$KNSL

Kinsale Capital Group, Inc.

CIK:0001669162|SEC Filings

Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues:
Gross written premiums	$ 527,608	$ 555,522	$ 1,009,626	$ 1,039,797
Ceded written premiums	(75,125)	(96,822)	(153,881)	(199,392)
Net written premiums	452,483	458,700	855,745	840,405
Change in unearned premiums	(34,886)	(75,087)	(31,289)	(91,002)
Net earned premiums	417,597	383,613	824,456	749,403
Fee income	11,941	10,796	22,936	20,355
Net investment income	55,740	46,473	111,163	90,292
Change in the fair value of equity securities	56,196	28,621	47,840	31,659
Net realized investment gains	6,729	136	8,448	673
Debt Securities, Available-for-Sale, Excluding Accrued Interest, Allowance for Credit Loss, Period Increase (Decrease)	0	5	(27)	(15)
Other income	316	170	412	844
Total revenues	548,519	469,814	1,015,228	893,211
Expenses:
Losses and loss adjustment expenses	230,922	217,359	466,041	450,335
Underwriting, acquisition and insurance expenses	93,171	81,597	181,405	156,509
Interest Expense	3,323	2,557	6,490	5,095
Other expenses	1,299	12	1,828	672
Total expenses	328,715	301,525	655,764	612,611
Income before income taxes	219,804	168,289	359,464	280,600
Total income tax expense	43,930	34,168	71,036	57,252
Net income	175,874	134,121	288,428	223,348
Other comprehensive income (loss):
Change in net unrealized losses on available-for-sale investments, net of taxes	(8,611)	14,453	(43,524)	40,835
Total comprehensive income	$ 167,263	$ 148,574	$ 244,904	$ 264,183
Earnings per share:
Basic	$ 7.73	$ 5.79	$ 12.61	$ 9.64
Diluted	$ 7.72	$ 5.76	$ 12.58	$ 9.59
Weighted average shares outstanding:
Basic	22,758	23,175	22,867	23,172
Diluted	22,785	23,291	22,921	23,301

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities
Net cash provided by operating activities	$ 490,776	$ 498,870
Investing Activities
Purchase of property and equipment	(10,340)	(29,152)
Change in short-term investments, net	3,874	(30,000)
Purchases – fixed-maturity securities	(729,472)	(939,534)
Purchases - equity securities	(148,868)	(94,894)
Sales – fixed-maturity securities	367,088	282,740
Sales – equity securities	58,512	11,585
Maturities and calls – fixed-maturity securities	195,708	359,007
Net cash used in investing activities	(263,498)	(440,248)
Financing Activities
Proceeds from Lines of Credit	(30,000)	0
Repayments of Lines of Credit	(30,000)	0
Payroll taxes withheld and remitted on share-based payments	(6,757)	(6,282)
Proceeds from stock options exercised	1,177	479
Dividends paid	(11,470)	(7,932)
Payments for Repurchase of Common Stock	(163,078)	(19,999)
Net cash used in financing activities	(180,128)	(33,734)
Net change in cash and cash equivalents	47,150	24,888
Cash and cash equivalents at beginning of year	163,361	113,213
Cash and cash equivalents at end of period	$ 210,511	$ 138,101

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets
Fixed-maturity securities, available for sale, at fair value (amortized cost: $4,566,942, allowance for credit losses: $56 – 2026; $4,382,725 and $29 – 2025)	$ 4,470,546	$ 4,341,450
Equity securities, at fair value (cost: $581,805 – 2026; $482,926 – 2025)	773,118	626,399
Real Estate Investments, Net	54,668	55,236
Short-term investments	0	3,864
Total investments	5,298,332	5,026,949
Cash and Cash Equivalent	210,511	163,361
Investment income due and accrued	33,486	30,971
Premiums and fees receivable, net of allowance for credit losses of $29,922 – 2026; $27,328 – 2025	148,047	124,593
Reinsurance recoverables, net	415,096	394,329
Ceded unearned premiums	44,398	44,506
Deferred policy acquisition costs, net of ceding commissions	124,743	118,737
Intangible assets	3,538	3,538
Deferred Income Tax Assets, Net	46,297	42,191
Other assets	104,382	94,386
Total assets	6,428,830	6,043,561
Liabilities
Reserves for unpaid losses and loss adjustment expenses	3,192,552	2,890,870
Unearned premiums	891,575	860,394
Payable to reinsurers	32,437	34,385
Accounts payable and accrued expenses	36,526	66,301
Debt	224,535	224,397
Other liabilities	16,091	7,631
Total liabilities	$ 4,393,716	$ 4,083,978
Common stock, shares outstanding (in shares)	22,778,425	23,145,751
Stockholders' Equity
Common stock, $0.01 par value, 400,000,000 shares authorized, 23,500,184 and 22,778,425 shares issued and outstanding at June 30, 2026; 23,380,413 and 23,145,751 shares issued and outstanding at December 31, 2025	$ 235	$ 234
Additional paid-in capital	379,502	373,681
Retained earnings	1,993,917	1,716,945
Accumulated other comprehensive loss	$ (74,216)	$ (30,692)
Treasury Stock, Common, Shares	721,759	234,662
Treasury Stock, Value	$ (264,324)	$ (100,585)
Total stockholders’ equity	2,035,114	1,959,583
Total liabilities and stockholders’ equity	$ 6,428,830	$ 6,043,561