Company: KNSL
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001669162-25-000010
Chunk: 16

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1
Chunk 16
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,490 48.9 %1,387,693 44.9 %Asset-backed securities732,742 18.0 %641,760 20.7 %Residential mortgage-backed securities448,874 11.0 %417,106 13.5 %Commercial mortgage-backed securities205,105 5.0 %66,902 2.1 %Total fixed maturities3,537,563 86.9 %2,711,759 87.6 %Equity securities - at fair value:Exchange traded funds129,731 3.2 %106,300 3.4 %Non-redeemable preferred stock26,433 0.6 %33,173 1.1 %Common stock242,195 6.0 %95,340 3.1 %Total equity securities398,359 9.8 %234,813 7.6 %Short-term investments, at amortized cost3,714 0.1 %5,589 0.2 %Real estate investment, net15,045 0.4 %14,791 0.5 %Cash and cash equivalents113,213 2.8 %126,694 4.1 %Total $4,067,894 100.0 %$3,093,646 100.0 %

Our policy is to invest primarily in high-quality fixed-maturity securities with a primary focus on preservation of capital and a secondary focus on maximizing our risk-adjusted investment returns. Investment policy is set by the Investment Committee of the Board of Directors, subject to the limits of applicable regulations. Our investment policy is designed to comply with the regulatory investment requirements and restrictions to which our insurance subsidiary is subject. Our fixed-maturity portfolio and preferred stocks are managed by an outside investment advisory firm and our equity securities are managed in-house under guidelines approved by our Investment Committee. Our Investment Committee meets periodically and reports to our Board of Directors. 

Our investment policy also imposes strict requirements for credit quality, with a minimum average credit quality of the portfolio being rated "AA-" or higher by Standard & Poor's or the equivalent rating from another nationally recognized rating agency. Our investment policy also imposes restrictions on concentrations of securities by class and issuer. As of December 31, 2024, our fixed-maturity portfolio, including cash equivalents, had an average duration of 3