Key Takeaways Kinsale Capital sees E&S market growth boosting premiums, submissions, and pricing power. KNSL drives margins through better pricing, lower loss ratios, and tech-driven efficiency. Kinsale Capital supports returns with strong cash flow, dividend growth, and buybacks. Shares of Kinsale Capital Group, Inc. (KNSL) have lost 17.1% in the past year, underperforming its industry’s growth of 6.8%.  The insurer has a market capitalization of $9.07 billion. The average volume of shares traded in the la ...

While Rubrik grew sales by 55% in the last quarter, it trades at 79 times free cash flow (FCF), and is still distributing an immense volume of stock-based compensation, so interested investors should build their stakes in it over time in small batches.The company has become the No. 1 player in this niche, holding a "leader" designation from research firm Gartner. It also has earned an incredible +80 Net Promoter Score from its customers, which ranks it among the top 1% of enterprise software companies.Integ ...

Investors with an interest in Insurance - Property and Casualty stocks have likely encountered both Axis Capital (AXS) and Kinsale Capital Group, Inc. (KNSL) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank is a ...

Turtle Creek Asset Management, an investment management company, has released its third-quarter 2025 investor letter. A copy of the letter can be downloaded here. The firm believes that the portfolio offered a compelling opportunity in a highly valued market environment. The net asset value of the Turtle Creek Equity Fund increased by 0.4% in the third quarter, lagging behind the S&P MidCap 400 index’s 7.7% increase and the S&P/TSX Completion index’s 16.3% gain. Turtle Creek Synthetic PE Fund increased 1.4% ...

Core Insights - Pelican Bay Capital Management's Concentrated Value Strategy achieved a return of 7.8% in Q3 2025, outperforming the Russell 1000 Value Index which returned 5.3% during the same period [1] - Year-to-date, the fund's return stands at 11.2%, slightly below the index's return of 11.6% [1] Company Analysis: Kinsale Capital Group, Inc. (NYSE:KNSL) - Kinsale Capital Group, Inc. experienced a one-month return of -17.48% and a 52-week decline of 12.31%, with its stock closing at $393.10 and a market capitalization of $9.145 billion on November 6, 2025 [2] - The decline in Kinsale Capital Group's shares by 10% in Q3 2025 was attributed to challenges in the Excess and Surplus (E&S) insurance market, characterized by increased competition and lower insurance premiums [3] - The rapid policy growth that Kinsale Capital Group has experienced over the past four years is expected to slow down in the upcoming quarters due to these market challenges [3] Hedge Fund Interest - Kinsale Capital Group, Inc. was held by 31 hedge fund portfolios at the end of Q2 2025, a decrease from 33 in the previous quarter, indicating a slight decline in hedge fund interest [4] - Despite acknowledging Kinsale Capital Group's potential, there is a belief that certain AI stocks present greater upside potential with less downside risk [4]

Core Insights - The logistics sector has seen significant engagement from investors, particularly in the ASEAN and US markets, highlighting its growth potential and diversification opportunities [1] - The popularity of insurance companies in the Philippines since 2014 indicates a shift in investment strategies among local investors, moving towards a more diversified portfolio [1] - The entry into the US market has provided additional avenues for investment, particularly in banks, hotels, and logistics companies, reflecting a broader trend of globalization in investment strategies [1] Investment Strategies - Initial investments were focused on blue-chip companies, but there has been a diversification into various industries and market cap sizes, indicating a more balanced investment approach [1] - The strategy includes holding certain stocks for retirement while engaging in trading for profit, showcasing a dual approach to investment [1] - The use of platforms like Seeking Alpha has facilitated knowledge sharing and comparative analysis between different markets, enhancing investment decision-making [1]

Core Insights - The logistics sector has seen significant engagement from investors, particularly in the ASEAN and US markets, highlighting its growth potential and diversification opportunities [1] - The popularity of insurance companies in the Philippines since 2014 indicates a shift in investment strategies among local investors, moving towards a more diversified portfolio [1] - The trend of investing in blue-chip companies has evolved, with investors now holding a mix of stocks for retirement and trading profits, reflecting a more strategic approach to investment [1] Industry Focus - The banking, telecommunications, logistics, and hotel sectors are identified as key areas of investment interest, particularly in the ASEAN and US markets [1] - The entry into the US market has been facilitated by platforms like Seeking Alpha, which provide valuable analyses for comparison with local markets [1] - The logistics and shipping industries are highlighted as sectors with significant investment potential, aligning with global trends in e-commerce and supply chain management [1]

Core Insights - DHL Group anticipates a typical increase in e-commerce deliveries during the fourth quarter, aligning with the year-end peak season [1] Company Summary - DHL Group is preparing for the expected surge in e-commerce deliveries as the year-end peak season approaches [1]

Core Viewpoint - Porsche reported a wider-than-expected operating loss in the third quarter, indicating a deeper crisis as the company shifts its strategy on electric vehicles and other areas [1] Financial Performance - The operating loss for Porsche in the third quarter was larger than anticipated, reflecting ongoing challenges in the market [1] Strategic Shift - The company is undergoing a significant change in its approach to electric vehicles, which is contributing to its current financial difficulties [1]

Financial Data and Key Metrics Changes - Kinsale's operating earnings per share increased by 24% year-over-year, reaching $5.21 per share for the third quarter of 2025 compared to $4.20 in the same quarter of 2024 [5][10] - Gross written premium grew by 8.4% over the third quarter of 2024, while net earned premium increased by 17.8% due to higher retention levels upon renewal of the reinsurance program [6][8] - The combined ratio for the quarter was 74.9%, benefiting from 3.7 points from net favorable prior year loss reserve development [8] - Book value per share increased by 25.8% since year-end 2024, and float grew to $3 billion from $2.5 billion [6][9] Business Line Data and Key Metrics Changes - The commercial property division premium dropped by 8% in the third quarter compared to a 17% drop in the second quarter, while overall growth excluding this division was 12.3% [6][8] - Submission growth was 6% for the quarter, down from 9% in the first quarter, primarily driven by the commercial property division [14] Market Data and Key Metrics Changes - E&S market conditions were steady and competitive, with overall growth rate at 8.4% [6] - The pricing trends in the commercial property market are stabilizing, with a reported overall decrease of 0.4% according to the Amwins index [15] Company Strategy and Development Direction - Kinsale's disciplined underwriting and low-cost business model provide a competitive advantage, allowing the company to deliver competitive policy terms without compromising margins [6][7] - The company is focused on maintaining efficiency and leveraging technology to enhance productivity and reduce costs [24][85] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in future growth opportunities across various segments, including transportation, agribusiness, and high-value homeowners [19][20] - The company anticipates that the competitive landscape will continue to evolve, with expectations of moderate pricing in the commercial property market [15][36] Other Important Information - Management announced significant changes, including Brian Haney's election to the Board of Directors and his transition to a Senior Advisor role [4][5] - The company is actively enhancing its technology capabilities, including the implementation of AI tools to drive automation [22][24] Q&A Session Summary Question: Future opportunities outside of commercial property - Management sees opportunities across the entire book, particularly in transportation, agribusiness, and high-value homeowners [19] Question: Technology innovations and implementation - Kinsale has made technology a core competency, with ongoing enhancements to its enterprise system and the use of AI tools [22][24] Question: Changes in assumptions for construction liability - Management indicated that there were no specific changes in assumptions affecting the current year loss pick [27] Question: Growth opportunities in excess casualty segment - The excess casualty segment continues to show good opportunities, with rates holding strong [29] Question: State E&S data and growth perceptions - Management advised against reading too much into state-specific growth data, suggesting a broader view over time [47][48] Question: Changes in underwriting expenses with slowed premium growth - Management expects gradual declines in underwriting expenses as productivity gains are realized through technology [83] Question: Share repurchase strategy - The increase in share repurchases is attributed to generating excess capital and maintaining efficient capital management [78] Question: Impact of alternative capital on property market - Management acknowledged the potential for alternative capital to enter the market but emphasized their focus on maintaining competitive pricing [97]