Company: KNSL
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001669162-25-000010
Chunk: 117

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 117
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,142 ContingenciesStockholders’ equity:Common stock, $0.01 par value, 400,000,000 shares authorized, 23,294,783 shares issued and 23,272,157 shares outstanding at December 31, 2024; 23,181,919 shares issued and outstanding at December 31, 2023233 232 Additional paid-in capital361,398 352,970 Retained earnings1,229,136 828,247 Accumulated other comprehensive loss(97,206)(94,617)Treasury stock, at cost (22,626 shares in 2024;  — in 2023)(10,000)— Stockholders’ equity1,483,561 1,086,832 Total liabilities and stockholders’ equity$4,886,704 $3,772,974 

See accompanying notes to consolidated financial statements.

72

KINSALE CAPITAL GROUP, INC. AND SUBSIDIARIES

Consolidated Statements of Income and Comprehensive Income

Year Ended December 31,202420232022(in thousands, except per share data)Revenues:Gross written premiums$1,870,341 $1,568,815 $1,102,092 Ceded written premiums(392,993)(304,185)(165,282)Net written premiums1,477,348 1,264,630 936,810 Change in unearned premiums(126,878)(192,093)(142,691)Net earned premiums1,350,470 1,072,537 794,119 Fee income34,118 27,026 19,604 Net investment income150,287 102,335 51,282 Change in fair value of equity securities43,367 15,277 (27,723)Net realized investment gains6,831 6,040 1,191 Change in allowance for credit losses on investments526 (187)(366)Other income1,926 1,421 697 Total revenues1,587,525 1,224,449 838,804 Expenses:Losses and loss adjustment expenses772,899 600,219 457,913 Underwriting, acquisition and insurance expenses285,808 228,970 180,322 Interest expense10,134 10,301 4,284 Other expenses3,968 942 721