Company: KNSL
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0001669162-25-000043
Chunk: 20

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-07-24
Form: 10-Q
Item: Item 1
Chunk 20
---
30, 2025 and 2024 consist of the following:Three Months Ended June 30,Six Months Ended June 30,2025202420252024(in thousands)Underwriting, acquisition and insurance expenses incurred:Direct commissions$70,855 $62,764 $138,932 $121,130 Ceding commissions(31,128)(29,359)(63,525)(56,186)Other underwriting expenses41,870 38,663 81,102 72,877 Total$81,597 $72,068 $156,509 $137,821 Other underwriting expenses within underwriting, acquisition and insurance expenses include salaries, bonus and employee benefits expenses of $32.5 million and $26.0 million for the three months ended June 30, 2025 and 2024, respectively and $61.7 million and $50.7 million for the six months ended June 30, 2025 and 2024, respectively.

8.    Stock-based Compensation

The Kinsale Capital Group, Inc. 2016 Omnibus Incentive Plan (the "2016 Incentive Plan") was effective from 2016 to 2025. On May 22, 2025, the Company's stockholders approved the Kinsale Capital Group, Inc. 2025 Omnibus Incentive Plan (the "2025 Incentive Plan"), which replaced the 2016 Incentive Plan prior to its scheduled expiration in 2026. The 2025 Incentive Plan is administered by the Compensation, Nominating and Corporate Governance 

19

Table of Contents

Committee of the Company's Board of Directors and authorizes the grant of stock options, restricted stock, restricted stock units, and other stock-based awards to officers, employees, directors, independent contractors, and consultants.No additional awards will be issued under the 2016 Incentive Plan, and shares remaining available under that plan will not roll forward to the 2025 Incentive Plan. The maximum number of shares of the Company's common stock reserved and available for issuance under the 2025 Incentive Plan is 860,500 plus any shares subject to awards outstanding under the 2016 Incentive Plan as of May 22, 2025 that are subsequently forfeited or settled in cash. There were no shares granted under the 2025 Incentive Plan during the six months ended June