Company: KNSL
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001669162-25-000010
Chunk: 162

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 162
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 costs— — 47,498 Proceeds from credit facility— — 73,000 Proceeds from notes payable— 50,000 125,000 Repayment of credit facility— (62,000)(43,000)Debt issuance costs— (164)(2,381)Payroll taxes withheld and remitted on share-based payments(7,047)(4,282)(3,288)Common stock issued, stock options exercised1,330 877 1,090 Dividends paid(13,940)(12,954)(11,927)Treasury stock acquired — share repurchases(10,000)— — Net cash (used in) provided by financing activities(29,657)(28,523)185,992 Net change in cash and cash equivalents(4,746)(17,707)20,193 Cash and cash equivalents at beginning of year17,082 34,789 14,596 Cash and cash equivalents at end of year$12,336 $17,082 $34,789 See accompanying notes to condensed financial information.See accompanying Report of Independent Registered Public Accounting Firm. 

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KINSALE CAPITAL GROUP, INC.Condensed Financial Information of RegistrantNotes to Condensed Financial Information (Parent Company Only)1. Accounting policiesOrganizationKinsale Capital Group, Inc. (the "Company"), a Delaware domiciled insurance holding company, was formed on June 3, 2009 for the purpose of acquiring and managing insurance entities. Basis of presentationThe accompanying condensed financial statements have been prepared using the equity method. Under the equity method, the investment in consolidated subsidiaries is stated at cost plus equity in undistributed earnings of consolidated subsidiaries since the date of acquisition. These condensed financial statements should be read in conjunction with the Company’s consolidated financial statements. Estimates and assumptionsPreparation of the condensed financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed financial statements and accompanying disclosures. Those estimates are inherently subject to change, and actual results may ultimately differ from those estimates.DebtNote Purchase and Private Shelf AgreementOn July 22, 2022, the Company entered into a Note Purchase and Private Shelf Agreement (as subsequently amended, the "Note Purchase Agreement") with PGIM, Inc. ("Prudential") and the purchasers of the Series A and Series B Senior Notes (as defined below). The Note Purchase Agreement provides