Company: KNSL
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0001669162-25-000058
Chunk: 141

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-10-23
Form: 10-Q
Item: Item 2
Chunk 141
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Net cash used in investing activities of $762.1 million during the nine months of 2024 included purchases of fixed-maturity securities of $1.3 billion, which included primarily corporate bonds, asset- and mortgage-backed securities, and to a lesser extent, U.S. Treasuries and municipal securities. During the first nine months of 2024, we received proceeds of $274.2 million from sales of fixed-maturity securities, largely corporate bonds, mortgage- and asset-backed securities, municipal securities, U.S. Treasuries and government agency bonds and $317.4 million from redemptions and maturities of asset- and mortgage-backed securities and corporate bonds. For the nine months 

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ended September 30, 2024, purchases of equity securities of $115.1 million consisted of common stocks and ETFs. During the first nine months of 2024, we received proceeds of $34.2 million primarily from sales of ETFs and common stocks.

During the first nine months of 2025, cash used in financing activities reflected dividends paid of $0.51 per common share, or $11.9 million in aggregate, share repurchases of $40.0 million and payroll taxes withheld and remitted on restricted stock awards of $6.3 million, offset in part by proceeds received from our equity compensation plans of $0.6 million. In addition, in September 2025, we drew down $15.0 million from the Credit Facility to fund the construction of our new corporate headquarters.

During the first nine months of 2024, cash used in financing reflected dividends paid of $0.45 per common share, or $10.5 million in aggregate. In addition, for the nine months ended September 30, 2024, payroll taxes withheld and remitted on restricted stock awards were $7.0 million, offset in part by proceeds received from our equity compensation plans of $1.2 million. 

Reinsurance

We enter into reinsurance contracts primarily to limit our exposure to potential large losses. Reinsurance involves an insurance company transferring ("ceding") a portion of its exposure on a risk to another insurer, the reinsurer. The reinsurer assumes the exposure in return for a portion of the premium. Our reinsurance is primarily contracted under quota share reinsurance treaties and excess of loss treaties. In quota share reinsurance, the reinsurer agrees to assume a specified percentage of the ceding company's losses arising out of a