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

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-10-23
Form: 10-Q
Item: Item 1
Chunk 25
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uts and Jobs Act and were set to expire at the end of 2025. The tax provisions in the OBBBA did not have a material impact on the Company's consolidated financial statements.

 11.     Reserves For Unpaid Losses and Loss Adjustment Expenses

The following table presents a reconciliation of consolidated beginning and ending reserves for unpaid losses and loss adjustment expenses:September 30,20252024(in thousands)Gross reserves for unpaid losses and loss adjustment expenses, beginning of year$2,285,668 $1,692,875 Less: reinsurance recoverable on unpaid losses323,060 241,357 Net reserves for unpaid losses and loss adjustment expenses, beginning of year1,962,608 1,451,518 Incurred losses and loss adjustment expenses:Current year723,350 608,423 Prior years(45,853)(28,072)Total net losses and loss adjustment expenses incurred677,497 580,351 Payments:Current year43,393 24,207 Prior years211,855 156,992 Total payments255,248 181,199 Net reserves for unpaid losses and loss adjustment expenses, end of period2,384,857 1,850,670 Reinsurance recoverable on unpaid losses380,330 310,093 Gross reserves for unpaid losses and loss adjustment expenses, end of period$2,765,187 $2,160,763 During the nine months ended September 30, 2025, the reserves for unpaid losses and loss adjustment expenses held at December 31, 2024 developed favorably by $45.9 million, of which $53.8 million was attributable to the 2020 through 2024 accident years due to lower emergence of reported losses than expected across most lines of business, 

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particularly in the property lines of business. This favorable development was offset in part by adverse development primarily in the construction liability business in the 2016 through 2019 accident years and adjustments to actuarial assumptions in the 2020 through 2024 accident years to reflect inflation uncertainty around construction defect exposures. Current accident year incurred losses and loss adjustment expenses for the nine months ended September 30, 2025 included $27.5 million of net catastrophe losses primarily related to the Palisades Fire.

During the nine months ended September 30, 2024, the reserves for unpaid losses and loss adjustment expenses held at December 31