Kinsale Capital Group Inc 2025年季度报告

Commission File Number:001-37848 (Address of principal executive offices, including zip code) such files).Yes☒No☐Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an company" in Rule 12b-2 of the Exchange Act.Large accelerated filer☒Accelerated filer☐Non-accelerated filer☐Smaller reporting company☐Emerging growth If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with anynew or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Number of shares of the registrant's common stock outstanding at April 18, 2025:23,311,435 Consolidated Balance Sheets atMarch 31, 2025(Unaudited) and December 31, 2024 Forward-Looking StatementsThis Quarterly Report on Form 10-Q contains forward-looking statements, within the meaning of the Private Securities Litigation statements may discuss, among others, our future financial performance, our business prospects and strategy, our anticipated financialposition, liquidity and capital, dividends and general market and industry conditions. You can identify forward-looking statements bywords such as "anticipates," "estimates," "expects," "intends," "plans," "predicts," "projects," "believes," "seeks," "outlook," "future," "will," "would," "should," "could," "may," "can have," "prospects" or similar terms. Forward-looking statements are based on management’s current expectations and assumptions about future events, which are subject to uncertainties, risks and changes incircumstances that are difficult to predict. These statements are only predictions and are not guarantees of future performance. Actual results may differ materially from those contemplated by a forward-looking statement. Factors that may cause such differencesinclude, without limitation: •the possibility that our loss reserves may be inadequate to cover our actual losses, which could have a material adverse effecton our financial condition, results of operations and cash flows; •the inherent uncertainty of models resulting in actual losses that are materially different than our estimates; material adverse effect on our financial condition or results of operations; •the inability to obtain reinsurance coverage at reasonable prices and on terms that adequately protect us;•the possibility that severe weather conditions and catastrophes, including due to climate change, pandemics and similar events adversely affecting our business, results of operations and financial condition; •adverse economic factors, including recession, inflation, periods of high unemployment or lower economic activity resultingin the sale of fewer policies than expected or an increase in frequency or severity of claims and premium defaults or both, affecting our growth and profitability; •a decline in our financial strength rating adversely affecting the amount of business we write; •the potential loss of one or more key executives or an inability to attract and retain qualified personnel adversely affecting ourresults of operations; •our reliance on a select group of brokers; •the changing market conditions of our excess and surplus lines ("E&S") insurance operations, as well as the cyclical nature of our business, affecting our financial performance; •the effects of litigation having an adverse effect on our business; •the performance of our investment portfolio adversely affecting our financial results; •the ability to pay dividends being dependent on our ability to obtain cash dividends or other permitted payments from ourinsurance subsidiary; •being forced to sell investments to meet our liquidity requirements; Investing activities:Purchase of property and equipment Purchase of real estate investment—Change in short-term investments, net(34,999)Purchases – fixed-maturity securities(369,457)Purchases – equity securities(42,710)Sales – fixed-maturity securities106,974Sales – equity securities11,585 Financing activities: Payroll taxes withheld and remitted on share-based payments(6,248)Proceeds from stock options exercised235Dividends paid(3,993)Treasury stock acquired–share repurchases(9,999) Net change in cash and cash equivalentsCash and cash equivalents at beginning of year Cash and cash equivalents at end of period$ See accompanying notes to condensed consolidated financial statements. KINSALE CAPITAL GROUP, INC. AND SUBSIDIARIESNotes to Condensed Consolidated Financial Statements (Unaudited) 1.Summary of Significant Accounting Policies Basis of presentation Prospective accounting pronouncementsASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures In November 2024, the FASB issued ASU 2024-03, "Income Statement-Reporting Comprehensive Income-Expense DisaggregationDisclosures (Subtopic 220-40): Disaggregation of Income Statement E