Company: KNSL
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0001669162-25-000058
Chunk: 145

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-10-23
Form: 10-Q
Item: Item 2
Chunk 145
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-term investments, $170.2 million of cash and cash equivalents and $15.0 million of real estate investments.

Our fixed-maturity securities, including cash equivalents, had a weighted average duration of 3.6 years and 3.0 years at September 30, 2025 and December 31, 2024, respectively, and an average rating of "AA-" at both September 30, 2025 and December 31, 2024. 

At September 30, 2025 and December 31, 2024, the amortized cost and estimated fair value on fixed-maturity securities were as follows:

September 30, 2025December 31, 2024Amortized CostEstimated Fair Value% of Total Fair ValueAmortized CostEstimated Fair Value% of Total Fair Value($ in thousands)Fixed-maturity securities: U.S. Treasury securities and obligations of U.S. government agencies$7,846 $7,683 0.2 %$15,465 $15,048 0.4 %Obligations of states, municipalities and political subdivisions150,200 130,959 3.1 %168,894 146,304 4.1 %Corporate and other securities1,934,696 1,934,872 46.4 %2,037,372 1,989,490 56.3 %Asset-backed securities700,855 708,404 17.0 %729,658 732,742 20.7 %Residential mortgage-backed securities1,036,483 998,689 23.9 %502,121 448,874 12.7 %Commercial mortgage-backed securities389,465 390,631 9.4 %209,521 205,105 5.8 %Total fixed-maturity securities$4,219,545 $4,171,238 100.0 %$3,663,031 $3,537,563 100.0 %

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The table below summarizes the credit quality of our fixed-maturity securities at September 30, 2025 and December 31, 2024, as rated by Standard & Poor’s Financial Services, LLC ("Standard & Poor's"):

September 30, 2025December 31, 2024Standard & Poor’s or Equivalent DesignationEstimated Fair Value% of