Company: KNSL
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001669162-25-000010
Chunk: 127

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 127
---
 identified as the CODM and an explanation of how the CODM uses the reported measures of a segment's profit or loss in assessing segment performance and deciding how to allocate resources. Additionally, ASU 2023-07 requires all segment profit or loss and assets disclosures to be provided on an annual and interim basis. ASU 2023-07 became effective for the Company for the year ended December 31, 2024 and will be effective for interim periods beginning in 2025. Refer to Note 15 for the Company's segment reporting disclosures. Prospective accounting pronouncementsASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation DisclosuresIn November 2024, the FASB issued ASU 2024-03, "Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses," requiring public entities to disclose additional information about specific expense categories in the notes to the financial statements on an interim and annual basis. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and for interim periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the effect the guidance will have on its disclosures.

2.     Investments

Available-for-sale investmentsThe following tables summarize the Company’s available-for-sale investments at December 31, 2024 and 2023:December 31, 2024Amortized CostGross Unrealized GainsGross Unrealized LossesAllowance for Credit LossesEstimated Fair Value(in thousands)Fixed maturities:U.S. Treasury securities and obligations of U.S. government agencies$15,465 $— $(417)$— $15,048 Obligations of states, municipalities and political subdivisions168,894 46 (22,633)(3)146,304 Corporate and other securities2,037,372 5,779 (53,638)(23)1,989,490 Asset-backed securities729,658 4,606 (1,522)— 732,742 Residential mortgage-backed securities502,121 747 (53,994)— 448,874 Commercial mortgage-backed securities209,521 423 (4,838)(1)205,105 Total fixed-maturity investments$3,663,031 $11,601 $(137