Company: KNSL
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0001669162-25-000043
Chunk: 24

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-07-24
Form: 10-Q
Item: Item 1
Chunk 24
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Incurred losses and loss adjustment expenses:Current year480,430 398,058 Prior years(30,095)(17,947)Total net losses and loss adjustment expenses incurred450,335 380,111 Payments:Current year28,574 8,114 Prior years142,674 102,829 Total payments171,248 110,943 Net reserves for unpaid losses and loss adjustment expenses, end of period2,241,695 1,720,686 Reinsurance recoverable on unpaid losses381,958 292,369 Gross reserves for unpaid losses and loss adjustment expenses, end of period$2,623,653 $2,013,055 During the six months ended June 30, 2025, the reserves for unpaid losses and loss adjustment expenses held at December 31, 2024 developed favorably by $30.1 million, of which $35.8 million was attributable to the 2020 through 2024 accident years due to lower emergence of reported losses than expected across most lines of business, particularly in the property lines of business. This favorable development was offset in part by adverse development 

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primarily in the construction liability business in the 2016 through 2019 accident years and adjustments to actuarial assumptions in the 2020 through 2024 accident years to reflect inflation uncertainty around construction defect exposures. Current accident year incurred losses and loss adjustment expenses for the six months ended June 30, 2025 included $26.3 million of net catastrophe losses primarily related to the Palisades Fire.During the six months ended June 30, 2024, the reserves for unpaid losses and loss adjustment expenses held at December 31, 2023 developed favorably by $17.9 million, of which $30.7 million was attributable to the 2021 through 2023 accident years due to lower emergence of reported losses than expected across most lines of business. This favorable development was offset in part by adverse development primarily from the 2017 through 2019 accident years due to construction defect claims that are more exposed to inflation and from the 2020 accident year due to a large property claim.

12.     Reinsurance

The following table summarizes the effect of reinsurance on premiums written and earned for the three and six months ended June 30, 2025 and 2024:Three Months Ended June 30,Six Months Ended June 30,202520242025