Kinsale Capital Group, Inc. 10-Q

Financial Statements (unaudited)

Item 1. Financial Statements KINSALE CAPITAL GROUP, INC. AND SUBSIDIARIES Consolidated Balance Sheets (Unaudited) June 30, December 31, 2026 2025 (in thousands, except share and per share data) Assets Investments: 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 — 3,864 Total investments 5,298,332 5,026,949 Cash and cash equivalents 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 of allowance for credit losses of $ 1,097 – 2026; $ 1,072 – 2025 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 asset, net 46,297 42,191 Other assets 104,382 94,386 Total assets $ 6,428,830 $ 6,043,561 Liabilities and Stockholders' Equity 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 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, at cost ( 721,759 shares – 2026, 234,662 – 2025) ( 264,324 ) ( 100,585 ) Total stockholders’ equity 2,035,114 1,959,583 Total liabilities and stockholders’ equity $ 6,428,830 $ 6,043,561 See accompanying notes to condensed consolidated financial statements. 4 Table of Contents KINSALE CAPITAL GROUP, INC. AND SUBSIDIARIES Consolidated Statements of Income and Comprehensive Income (Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 (in thousand