Kinsale Capital Stock Price, News & Analysis

Kinsale Capital Group reported a net income of $67.2 million for Q4 2022, an increase of 39.2% compared to Q4 2021. Full-year net income reached $159.1 million, growing by 4.2% year-over-year. Net operating earnings for Q4 were $60.3 million, a 48.1% rise, while for the year, they were $180.4 million, up 36.2%. Gross written premiums surged 45.0% to $295.5 million in Q4 and 44.2% to $1.1 billion for the year. Underwriting income for Q4 was $59.5 million, with a combined ratio of 72.4%.

Kinsale Capital Group, Inc. (NYSE: KNSL) has declared a cash dividend of $0.14 per share of common stock. This dividend will be payable on March 13, 2023, to all stockholders of record as of February 28, 2023. The company's focus is on the specialty insurance sector, particularly in the excess and surplus lines market. The announcement underscores Kinsale's commitment to returning value to shareholders.

Kinsale Capital Group, Inc. (NYSE: KNSL) will release its fourth quarter 2022 financial results after market close on February 16, 2023. A conference call discussing these results will take place on February 17, 2023, at 9:00 a.m. Eastern Time. Interested participants can access the call by dialing (888) 660-6493, with conference ID# 3573726, or through the company's website at www.kinsalecapitalgroup.com. A replay will be available on the website until March 17, 2023.

Kinsale Capital Group, Inc. (NYSE: KNSL) has acquired real estate adjacent to its Richmond, Virginia headquarters for $76.2 million through a wholly owned subsidiary. The property consists of two office buildings over 580,000 square feet on approximately 29 acres of land, mostly leased long-term. This acquisition aims to provide operational expansion flexibility and investment potential, funded mainly via the company's unsecured revolving credit facility.

Kinsale Capital Group announced a cash dividend of $0.13 per share, payable on December 13, 2022, to shareholders on record as of November 30, 2022. The company operates in the specialty insurance sector, specifically focusing on excess and surplus lines. This dividend signals the company's ongoing commitment to returning value to its shareholders, reflecting confidence in its financial position.

Kinsale Capital Group announced the pricing of an underwritten public offering of 155,000 shares of common stock, with an additional 23,250 shares available through the underwriter's option. The offering is expected to close on November 15, 2022, aiming for gross proceeds of approximately $48.4 million for general corporate purposes, including funding organic growth. J.P. Morgan is the acting underwriter, and the offering followed an automatically effective registration statement with the SEC.

Kinsale Capital Group (NYSE: KNSL) announced plans to offer 155,000 shares of common stock in an underwritten public offering under an effective SEC registration statement. The company may grant the underwriter a 30-day option to purchase an additional 23,250 shares. Proceeds from the offering will be used for general corporate purposes, including funding organic growth. J.P. Morgan is the acting underwriter. This press release does not constitute an offer to sell or a solicitation to buy securities.

Kinsale Capital Group reported third-quarter net income of $33 million ($1.43 per diluted share) for 2022, down from $36.6 million ($1.59 per diluted share) in 2021. The drop was primarily due to $20.6 million in after-tax catastrophe losses and a decline in equity investments. However, net operating earnings rose 3.3% to $37.9 million. Gross written premiums increased significantly by 43.8% to $284.1 million, and net investment income surged 71.2% to $13.9 million. The company maintained a combined ratio of 83.6%, despite higher catastrophe activity.

Kinsale Capital Group, Inc. (NYSE: KNSL) will announce its third-quarter financial results on October 27, 2022, after market closure. A conference call will be held on October 28, 2022, at 9:00 a.m. ET to discuss these results with analysts and investors. Participants can access the call via phone at (888) 660-6493 or through Kinsale's website. The results and the replay of the call will be available on their website until November 25, 2022.