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Kinsale Capital Group, Inc. reports developments for a specialty insurance holding company focused on commercial excess and surplus lines property and casualty insurance. Recurring updates cover underwriting results, gross and net written premiums, underwriting income, combined ratio, catastrophe losses, net investment income and operating earnings within its Excess and Surplus Lines Insurance segment.
Company news also includes cash dividends, share repurchase authorizations, earnings-release and conference-call announcements, governance and leadership changes, and realignment of analytics, actuarial and technology functions. Kinsale also reports corporate real estate activity tied to Kinsale Center, including tenant leasing at the development owned through a subsidiary.
Kinsale Capital Group (Nasdaq: KNSL) reported a net income of $14.9 million (or $0.65 per diluted share) for Q3 2020, a 14.8% increase from Q3 2019's $13.0 million. Despite this growth, net operating earnings fell 23.9% to $9.6 million. The company experienced an impressive 47.8% growth in gross written premiums, totaling $144.8 million in Q3 2020. However, catastrophe losses of $13.2 million were incurred. Year-to-date net income reached $50.2 million, up from $45.5 million in 2019.
Kinsale Capital Group, Inc. (KNSL) will release its third-quarter financial results on October 29, 2020, after market close. A conference call to discuss the results will take place on October 30, 2020, at 9:00 a.m. ET. Investors can access the call by dialing (844) 239-5282 with conference ID# 3956358 or through the company’s website. A replay will be available until December 30, 2020. The company specializes in the excess and surplus lines market.
Kinsale Capital Group (Nasdaq: KNSL) has appointed Mark J. Beachy as Executive Vice President and Chief Claims Officer, effective October 5, 2020. He succeeds Ann Marie Marson, who will retire on September 30, 2020, after over a decade in the role. Michael Kehoe, CEO, expressed confidence in Beachy's leadership skills benefiting the claims operations. Beachy previously served at Travelers Indemnity, overseeing a large legal staff, and has extensive experience in claims management. He holds a B.S. in Journalism and a J.D. from Catholic University.
Kinsale Capital Group (KNSL) announced a cash dividend of $0.09 per share, set for payment on September 14, 2020. Stockholders must be on record by the close of business on August 31, 2020 to qualify. This move reflects the company's commitment to returning value to shareholders amidst its focus on the specialty insurance market in Virginia.
Kinsale Capital Group, Inc. (NASDAQ: KNSL) announced a public offering of 270,000 shares of common stock at $190.00 each, with a 30-day underwriter option for an additional 40,500 shares. The offering is set to close on August 7, 2020, expecting net proceeds of approximately $49.2 million for general corporate purposes, including funding organic growth. J.P. Morgan acts as the sole bookrunner, supported by several co-managers. The offering complies with SEC regulations under an effective registration statement.
Kinsale Capital Group (NASDAQ: KNSL) reported a significant increase in net income for Q2 2020, reaching $30.3 million ($1.33 per diluted share), up 119.8% from $13.8 million ($0.63 per diluted share) in Q2 2019. Year-to-date net income also rose to $35.3 million ($1.56 per diluted share). Gross written premiums surged by 41.2% to $134.1 million, driven by improved submission activity and underwriting performance, reflected in a combined ratio of 83.8%. Net investment income showed a robust 38.3% increase to $6.6 million. The company aims to sustain strong returns through disciplined underwriting.
Kinsale Capital Group announced it will release its Q2 2020 financial results after the market closes on July 30, 2020. A conference call for analysts and investors will take place on July 31, 2020, at 9:00 a.m. ET, where the results will be discussed. The financial release and conference call details will be accessible on the company’s website. Kinsale Capital specializes in the excess and surplus lines market, headquartered in Richmond, Virginia.
Kinsale Capital Group, Inc. (NASDAQ: KNSL) has declared a cash dividend of $0.09 per share for its common stock, scheduled for payment on June 12, 2020. Shareholders of record as of June 2, 2020 are eligible to receive this dividend. The company, based in Richmond, Virginia, operates in the specialty insurance sector, primarily focusing on excess and surplus lines.
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