Company: KNSL
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001669162-25-000010
Chunk: 17

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1
Chunk 17
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.0 years and had an average rating of "AA-."

11

The following table sets forth the composition of our portfolio of fixed-maturity securities by rating as of December 31, 2024:

AAAAAABBBBelow BBBTotal($ in thousands)U.S. Treasury securities and obligations of U.S. government agencies$— $15,048 $— $— $— $15,048 Obligations of states, municipalities and political subdivisions20,625 91,453 28,545 4,959 722 146,304 Corporate and other securities180 155,136 1,127,396 644,325 62,453 1,989,490 Asset-backed securities714,287 4,126 10,982 3,347 — 732,742 Residential mortgage-backed securities102,131 346,484 — — 259 448,874 Commercial mortgage-backed securities196,802 8,303 — — — 205,105 Total fixed maturities$1,034,025 $620,550 $1,166,923 $652,631 $63,434 $3,537,563 

The fair value of our investments in fixed-maturity securities at December 31, 2024, summarized by stated maturities follows:

December 31, 2024Estimated% ofFair ValueFair Value($ in thousands)Due in one year or less$415,674 11.8 %Due after one year through five years1,058,729 29.9 %Due after five years through ten years496,044 14.0 %Due after ten years180,395 5.1 %Asset-backed securities732,742 20.7 %Residential mortgage-backed securities448,874 12.7 %Commercial mortgage-backed securities205,105 5.8 %Total fixed maturities$3,537,563 100.0 %

Actual maturities may differ for some securities because borrowers have the right to call or prepay obligations with or without penalties. As of December 31, 2024, our fixed-maturity security portfolio contained $448.9 million (12.7%) of residential mortgage-backed securities ("RMBS"). RMBS, including collateralized mortgage obligations, are subject to prepayment risks that vary with, among other things,