Company: KNSL
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001669162-25-000010
Chunk: 159

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 159
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 RBC results, as determined by the formula. Companies that do not maintain statutory capital and surplus at a level in excess of the company action level RBC are required to take specified actions. At December 31, 2024 and 2023, actual statutory capital and surplus for Kinsale Insurance substantially exceeded the regulatory requirements. Dividend payments to Kinsale from Kinsale Insurance are restricted by state insurance laws as to the amount that may be paid without prior approval of the regulatory authorities of Arkansas. The maximum dividend distribution is limited by Arkansas law to the greater of 10% of policyholder surplus as of December 31 of the previous year or statutory net income, not including realized capital gains, for the previous calendar year. Dividend payments are further limited to that part of available policyholder surplus which is derived from net profits on its business. The maximum dividend distribution that can be paid by Kinsale Insurance during 2025 without prior approval is $351.9 million.

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17.     Subsequent event

In January 2025, a series of wildfires began in Southern California. The Company is evaluating the impact of such wildfires and currently estimates pre-tax catastrophe losses of approximately $25.0 million, net of reinsurance, to be reflected in the first quarter of 2025. These estimates are subject to change due to the ongoing nature of these events and the complexity of the claims.

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Schedule IKINSALE CAPITAL GROUP, INC. AND SUBSIDIARIESSummary of Investments—Other than Investments in Related PartiesType of Investment Cost or Amortized CostFair Value(if applicable)Amount at which shown on Balance Sheet(in thousands)Fixed maturities:U.S. Treasury securities and obligations of U.S. government agencies$15,465 $15,048 $15,048 Obligations of states, municipalities and political subdivisions168,894 146,304 146,304 Corporate and other securities2,037,372 1,989,490 1,989,490 Asset-backed securities729,658 732,742 732,742 Residential mortgage-backed securities502,121 448,874 448,874 Commercial mortgage-backed securities209,521 205,105 205,105 Total fixed maturities3,663,031 3,537,563 3,537,563 Equity securities:Common stocks:ETFs (industrial, miscellaneous and all other)