Company: KNSL
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001669162-25-000010
Chunk: 161

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 161
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,918 $8,686 Net investment income641 — 121 Net realized investment gains— — 8 Total revenues17,410 11,918 8,815 Expenses:Operating expenses17,193 13,007 9,765 Interest expense10,134 10,301 4,284 Other expenses615 — — Total expenses27,942 23,308 14,049 Loss before income taxes(10,532)(11,390)(5,234)Income tax benefit(12,346)(7,324)(5,387)Income (loss) before equity in net income of subsidiaries1,814 (4,066)153 Equity in undistributed earnings of subsidiaries413,029 312,159 158,961 Net income414,843 308,093 159,114 Other comprehensive income (loss):Equity in other comprehensive (losses) income of subsidiaries(2,589)40,301 (153,043)Total comprehensive income$412,254 $348,394 $6,071 See accompanying notes to condensed financial information.See accompanying Report of Independent Registered Public Accounting Firm. 

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Schedule IIKINSALE CAPITAL GROUP, INC. AND SUBSIDIARIESCondensed Financial Information of RegistrantStatements of Cash Flows (Parent Company Only)Years Ended December 31,202420232022(in thousands)Operating activitiesNet income$414,843 $308,093 $159,114 Adjustments to reconcile net income to net cash provided by (used in) operating activities:Deferred tax benefit(854)(372)(367)Stock compensation expense14,146 9,361 6,678 Equity in undistributed earnings of subsidiaries(413,029)(312,159)(158,961)Changes in operating assets and liabilities(25,795)55,893 (71,639)Current taxes payable(359)— — Change in accounts payable and accrued expenses(41)— — Dividends received from subsidiary47,000 — — Net cash provided by (used in) operating activities35,911 60,816 (65,175)Investing activitiesContributions to subsidiary(11,000)(50,000)(100,624)Net cash used in investing activities(11,000)(50,000)(100,624)Financing activitiesCommon stock issued, net of transaction