Company: KNSL
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0001669162-25-000058
Chunk: 74

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-10-23
Form: 10-Q
Item: Item 8
Chunk 74
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 call or prepayment penalties, and the lenders may have the right to put the securities back to the borrower.

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Real estate investmentsReal estate investments represents directly owned property held for investment purposes and consisted of land with a carrying value of $15.0 million at September 30, 2025 and December 31, 2024. There was no accumulated depreciation on real estate investments at September 30, 2025 and December 31, 2024.Net investment incomeThe following table presents the components of net investment income for the three and nine months ended September 30, 2025 and 2024:Three Months Ended September 30,Nine Months Ended September 30,2025202420252024(in thousands)Interest:Taxable bonds$46,697 $38,009 $131,676 $103,871 Tax exempt municipal bonds346 391 1,057 1,225 Cash equivalents and short-term investments1,774 615 4,800 1,726 Dividends on equity securities2,019 1,494 5,983 4,331 Real estate investment income— — — 153 Gross investment income50,836 40,509 143,516 111,306 Investment expenses(1,232)(865)(3,620)(2,882)Net investment income$49,604 $39,644 $139,896 $108,424 There was no depreciation expense related to real estate investments for the three and nine months ended September 30, 2025 or 2024 as the Company sold the related assets during 2023.

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Realized investment gains and lossesThe following table presents realized investment gains and losses for the three and nine months ended September 30, 2025 and 2024:Three Months Ended September 30,Nine Months Ended September 30,2025202420252024(in thousands)Fixed-maturity securities:Realized gains$2,372 $114 $3,677 $1,055 Realized losses(216)(90)(1,403)(1,129)Net realized gains (losses) from fixed-maturity securities2,156 24 2,274 (74)Equity securities:Realized gains— — 2,465 7,271 Realized losses— (31)(1,910)(455