Company: KNSL
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0001669162-25-000043
Chunk: 27

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-07-24
Form: 10-Q
Item: Item 1
Chunk 27
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/22/20227/22/2034125,000 125,000 6.21% Series B Note9/18/20237/22/203450,000 50,000 Less: Unamortized debt issuance costs(1,740)(1,878)Total debt$184,260 $184,122 Both the Note Purchase Agreement and the Amended and Restated Credit Agreement contain representations and affirmative and negative covenants, including financial covenants customary for agreements of this type, as well as customary events of default provisions. As of June 30, 2025, the Company was in compliance with all of its financial covenants under both the Note Purchase Agreement and the Credit Facility. In October 2024, the covenants limiting restricted payments under the Note Purchase Agreement and Amended and Restated Credit Agreement were amended. The amendments allow the Company to make restricted payments so long as the aggregate amount of all such restricted payments does not exceed the greater of $300.0 million and 6.5% of the total assets of the Company and its subsidiaries at the end of the most recently completed fiscal quarter.

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Table of Contents

14.     Other Comprehensive Income (Loss)

The following table summarizes the components of other comprehensive income (loss) for the three and six months ended June 30, 2025 and 2024: Three Months Ended June 30,Six Months Ended June 30,2025202420252024(in thousands)Unrealized gains (losses) on fixed-maturity securities arising during the period, before income taxes$18,357 $(6,892)$51,714 $(19,476)Income tax (expense) benefit (3,855)1,447 (10,860)4,090 Unrealized gains (losses) arising during the period, net of income taxes14,502 (5,445)40,854 (15,386)Less reclassification adjustment:Net realized gains (losses) on fixed-maturity securities, before income taxes57 (207)39 (218)Income tax (expense) benefit (12)44 (8)46 Reclassification adjustment included in net income45 (163)31 (172)Change in allowance for credit losses on investments, before income taxes5 476 (15)486 Income tax benefit (expense) (1)(100)3 (102)Reclassification adjustment