Company: KNSL
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0001669162-25-000027
Chunk: 17

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-04-24
Form: 10-Q
Item: Item 1
Chunk 17
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 — 448,874 Commercial mortgage-backed securities— 205,105 — 205,105 Total fixed-maturity securities15,048 3,522,515 — 3,537,563 Equity securities:Exchange traded funds129,731 — — 129,731 Non-redeemable preferred stock— 26,433 — 26,433 Common stocks242,195 — — 242,195 Total equity securities371,926 26,433 — 398,359 Short-term investments3,714 — — 3,714 Total$390,688 $3,548,948 $— $3,939,636 There were no assets or liabilities measured at fair value on a nonrecurring basis as of March 31, 2025 or December 31, 2024.The carrying amount of the Company's fixed-rate senior notes was $175.0 million, less debt issuance costs, and the corresponding estimated fair value was $170.4 million and $168.6 million at March 31, 2025 and December 31, 2024, respectively. The fair value measurement was determined using a discounted cash flow analysis that factors in current market yields for comparable borrowing arrangements under the Company's credit profile. Since this methodology is based upon market yields for comparable arrangements, the measurement is categorized as Level 2. The estimated fair value of outstanding borrowings under the Company's revolving Credit Facility approximated its carrying value at March 31, 2025 and December 31, 2024. See Note 13 for further information regarding the Company's debt arrangements.

The Company holds cash equivalents that are managed as part of its investment portfolio and, due to the short-term maturities of these assets, the carrying value of these investments approximates fair value. The Company held cash equivalents of $56.1 million and $16.1 million at March 31, 2025 and December 31, 2024, respectively. 

4.     Allowance for Credit Losses

Premiums receivablePremiums receivable balances are carried at face value, net of any allowance for credit losses. The allowance for credit losses represents an estimate of amounts considered uncollectible based on the Company’s assessment of the collectability of receivables that are past due. The estimate considers historical loss data, current and future economic conditions and specific identification of collect