Kinsale Capital Group (KNSL) Investor presentation summary

Business overview and strategy

• Focuses exclusively on the U.S. excess and surplus (E&S) insurance market, targeting small accounts and hard-to-place risks.

• Maintains strict control over underwriting and claims, with no delegated authority to third parties.

• Leverages proprietary technology and analytics to drive operational efficiency and profitability.

• Employs a highly experienced management team with decades of industry expertise.

• Aims to deliver long-term value through exceptional profit and growth.

Market position and performance

• Only publicly traded pure-play E&S insurer, with 100% of premiums from surplus lines.

• Achieved a compounded annual gain of 40.8% and an overall gain of 2,421.4% since its 2016 IPO, outperforming the S&P 500.

• Holds a strong balance sheet, with $5.2 billion in cash and invested assets and a book value of $84.66 per share as of December 2025.

• Maintains one of the lowest combined ratios among specialty insurer peers while achieving leading growth.

Financial highlights

• Gross written premiums grew to $1.98 billion in 2025, with an 11.9% CAGR in commercial lines from 2023 to 2025.

• Net operating earnings reached $453.7 million in 2025, with a 26.4% annualized operating return on equity.

• Combined ratio improved to 75.9% in 2025, reflecting disciplined underwriting and cost control.

• Float increased to $3.1 billion, and net investment income rose to $192.2 million in 2025.