PART I. FINANCIAL INFORMATION This section presents the unaudited condensed consolidated financial statements and management's discussion and analysis [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) This section presents unaudited condensed consolidated financial statements, covering balance sheets, income, equity, cash flows, and detailed notes [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets%20at%20September%2030,%202024%20(Unaudited)%20and%20December%2031,%202023) This section provides a comparative overview of the Company's financial position at September 30, 2024, and December 31, 2023 Consolidated Balance Sheet Highlights (September 30, 2024 vs. December 31, 2023) | Metric | Sep 30, 2024 (in thousands) | Dec 31, 2023 (in thousands) | Change (in thousands) | % Change | | :-------------------------------------- | :-------------------------- | :-------------------------- | :-------------------- | :--------- | | Total assets | $4,732,243 | $3,772,974 | $959,269 | 25.4% | | Total liabilities | $3,297,294 | $2,686,142 | $611,152 | 22.8% | | Total stockholders' equity | $1,434,949 | $1,086,832 | $348,117 | 32.0% | | Reserves for unpaid losses & LAE | $2,160,763 | $1,692,875 | $467,888 | 27.6% | | Unearned premiums | $844,701 | $701,351 | $143,350 | 20.4% | | Total investments | $3,847,709 | $2,966,952 | $880,757 | 29.7% | [Consolidated Statements of Income and Comprehensive Income](index=5&type=section&id=Consolidated%20Statements%20of%20Income%20and%20Comprehensive%20Income%20(Unaudited)%20for%20the%20Three%20and%20Nine%20Months%20Ended%20September%2030,%202024%20and%202023) This section details the Company's financial performance for the three and nine months ended September 30, 2024 and 2023 Consolidated Statements of Income and Comprehensive Income Highlights (Three Months Ended Sep 30) | Metric | 2024 (in thousands) | 2023 (in thousands) | Change (in thousands) | % Change | | :-------------------------------------- | :------------------ | :------------------ | :-------------------- | :--------- | | Gross written premiums | $448,646 | $377,789 | $70,857 | 18.8% | | Net earned premiums | $348,752 | $281,502 | $67,250 | 23.9% | | Net investment income | $39,644 | $27,086 | $12,558 | 46.4% | | Change in fair value of equity securities | $20,659 | $(5,533) | $26,192 | NM | | Total revenues | $418,058 | $314,367 | $103,691 | 33.0% | | Losses and loss adjustment expenses | $200,240 | $155,552 | $44,688 | 28.7% | | Total expenses | $273,660 | $218,874 | $54,786 | 25.0% | | Net income | $114,229 | $76,115 | $38,114 | 50.1% | | Basic EPS | $4.93 | $3.30 | $1.63 | 49.4% | | Diluted EPS | $4.90 | $3.26 | $1.64 | 50.3% | Consolidated Statements of Income and Comprehensive Income Highlights (Nine Months Ended Sep 30) | Metric | 2024 (in thousands) | 2023 (in thousands) | Change (in thousands) | % Change | | :-------------------------------------- | :------------------ | :------------------ | :-------------------- | :--------- | | Gross written premiums | $1,427,060 | $1,173,599 | $253,461 | 21.6% | | Net earned premiums | $990,731 | $775,706 | $215,025 | 27.7% | | Net investment income | $108,424 | $71,953 | $36,471 | 50.7% | | Change in fair value of equity securities | $41,871 | $3,796 | $38,075 | NM | | Total revenues | $1,175,402 | $873,278 | $302,124 | 34.6% | | Losses and loss adjustment expenses | $580,351 | $441,628 | $138,723 | 31.4% | | Total expenses | $799,337 | $619,282 | $180,055 | 29.1% | | Net income | $305,749 | $204,706 | $101,043 | 49.4% | | Basic EPS | $13.21 | $8.89 | $4.32 | 48.6% | | Diluted EPS | $13.10 | $8.79 | $4.31 | 49.0% | [Consolidated Statements of Changes in Stockholders' Equity](index=6&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Stockholders'%20Equity%20(Unaudited)%20for%20Each%20Quarter%20Within%20the%20Nine%20Months%20Ended%20September%2030,%202024%20and%202023) This section outlines the changes in stockholders' equity for each quarter within the nine months ended September 30, 2024 and 2023 Stockholders' Equity Changes (Nine Months Ended Sep 30, 2024) | Item | Balance at Dec 31, 2023 (in thousands) | Q1 2024 Activity (in thousands) | Q2 2024 Activity (in thousands) | Q3 2024 Activity (in thousands) | Balance at Sep 30, 2024 (in thousands) | | :-------------------------------------- | :------------------------------------- | :------------------------------ | :------------------------------ | :------------------------------ | :------------------------------------- | | Common Stock | $232 | $1 | $0 | $0 | $233 | | Additional Paid-in Capital | $352,970 | $932 + $3,524 - $5,842 = $(1,386) | $219 + $3,709 - $1,123 = $2,805 | $51 + $3,495 = $3,546 | $357,935 | | Retained Earnings | $828,247 | $(3,479) + $98,941 = $95,462 | $(3,492) + $92,579 = $89,087 | $(3,493) + $114,229 = $110,736 | $1,123,532 | | Accumulated Other Comprehensive Loss | $(94,617) | $(9,940) | $(5,658) | $63,464 | $(46,751) | | Total Stockholders' Equity | $1,086,832 | $98,941 | $92,579 | $114,229 | $1,434,949 | - Total stockholders' equity increased by **$348.1 million** from December 31, 2023, to September 30, 2024, primarily due to net income and an increase in accumulated other comprehensive income (loss)[12](index=12&type=chunk)[9](index=9&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows%20(Unaudited)%20for%20the%20Nine%20Months%20Ended%20September%2030,%202024%20and%202023) This section presents the Company's cash flow activities for the nine months ended September 30, 2024 and 2023 Condensed Consolidated Statements of Cash Flows Highlights (Nine Months Ended Sep 30) | Activity | 2024 (in thousands) | 2023 (in thousands) | Change (in thousands) | % Change | | :-------------------------------------- | :------------------ | :------------------ | :-------------------- | :--------- | | Net cash provided by operating activities | $763,324 | $648,308 | $115,016 | 17.7% | | Net cash used in investing activities | $(762,100) | $(616,364) | $(145,736) | 23.6% | | Net cash used in financing activities | $(16,227) | $(25,274) | $9,047 | (35.8)% | | Net change in cash and

[Kinsale Capital Group Third Quarter 2024 Results](index=1&type=section&id=Kinsale%20Capital%20Group%20Third%20Quarter%202024%20Results) Kinsale Capital Group reported strong Q3 2024 financial performance with significant growth in earnings, premiums, and investment income [Financial Highlights](index=1&type=section&id=Financial%20Highlights) Kinsale Capital Group achieved substantial Q3 2024 growth in diluted EPS, premiums, and investment income despite higher catastrophe losses Q3 2024 vs Q3 2023 Performance Summary | Metric | Q3 2024 | Q3 2023 | % Change | | :--- | :--- | :--- | :--- | | Diluted EPS | $4.90 | $3.26 | +50.3% | | Diluted Operating EPS | $4.20 | $3.31 | +26.9% | | Gross Written Premiums | $448.6 million | $377.8 million | +18.8% | | Net Investment Income | $39.6 million | $27.1 million | +46.4% | | Underwriting Income | $86.9 million | $72.4 million | +20.0% | | Combined Ratio | 75.7% | 74.8% | +0.9 pts | Net Income and Catastrophe Losses (After-Tax) | Period | Net Income | Catastrophe Losses | | :--- | :--- | :--- | | **Q3 2024** | $114.2 million | $10.8 million | | **Q3 2023** | $76.1 million | $0.9 million | | **Nine Months 2024** | $305.7 million | $13.9 million | | **Nine Months 2023** | $204.7 million | $3.3 million | - The company's strategy focuses on disciplined underwriting and technology-enabled low costs, contributing to a strong combined ratio of **75.7%** despite **3.8 points** of net catastrophe losses in the quarter[2](index=2&type=chunk) [Results of Operations](index=1&type=section&id=Results%20of%20Operations) Operational results demonstrated strong underwriting, significant investment income growth, and improved financial metrics [Underwriting Results](index=1&type=section&id=Underwriting%20Results) Underwriting results showed strong premium growth and an improved expense ratio, with a combined ratio of **75.7%** impacted by catastrophe losses Gross Written Premiums Growth | Period | 2024 | 2023 | % Change | | :--- | :--- | :--- | :--- | | **Third Quarter** | $448.6 million | $377.8 million | +18.8% | | **First Nine Months** | $1.4 billion | $1.2 billion | +21.6% | Underwriting Ratios (Q3) | Ratio | Q3 2024 | Q3 2023 | | :--- | :--- | :--- | | **Loss Ratio** | 56.1% | 53.9% | | **Expense Ratio** | 19.6% | 20.9% | | **Combined Ratio** | 75.7% | 74.8% | - The Q3 2024 loss ratio included **3.8 points** of net catastrophe losses, primarily from Hurricanes Helene, Francine, and Beryl, and Midwest tornadoes, compared to negligible catastrophe losses in Q3 2023[5](index=5&type=chunk) - Results for Q3 2024 included **$10.1 million (2.8 points)** of net favorable development of loss reserves from prior accident years, compared to **$9.1 million (3.2 points)** in Q3 2023[5](index=5&type=chunk)[10](index=10&type=chunk) [Investment Results](index=4&type=section&id=Investment%20Results) Investment results significantly improved in Q3 2024, with net investment income growing **46.4%** due to strong cash flows and higher rates Net Investment Income Growth | Period | 2024 | 2023 | % Change | | :--- | :--- | :--- | :--- | | **Third Quarter** | $39.6 million | $27.1 million | +46.4% | | **First Nine Months** | $108.4 million | $72.0 million | +50.7% | - The investment portfolio grew to **$4.0 billion** as of September 30, 2024, up from **$3.1 billion** at year-end 2023, fueled by a **17.7%** increase in net operating cash flows for the first nine months of 2024[13](index=13&type=chunk) - The annualized gross investment return for the first nine months of 2024 was **4.3%**, compared to **3.9%** for the same period in 2023[13](index=13&type=chunk) [Other Financial Information](index=4&type=section&id=Other%20Financial%20Information) The effective tax rate decreased, while stockholders' equity grew to **$1.4 billion** and book value per share increased to **$61.62** Stockholders' Equity and Book Value | Metric | Sept 30, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | **Stockholders' Equity** | $1.4 billion | $1.1 billion | | **Book Value Per Share** | $61.62 | $46.88 | - The annualized operating return on equity was **28.2%** for the first nine months of 2024, a decrease from **32.1%** in the prior year period, mainly due to higher average stockholders' equity[14](index=14&type=chunk) [Corporate Developments](index=4&type=section&id=Corporate%20Developments) The Board of Directors authorized a new share repurchase program of up to **$100.0 million** of common stock in October 2024 - The company's Board of Directors authorized a share repurchase program for up to **$100.0 million** of its common stock[15](index=15&type=chunk) [Non-GAAP Financial Measures](index=4&type=section&id=Non-GAAP%20Financial%20Measures) The company uses non-GAAP measures like Net Operating Earnings and Underwriting Income to clarify business performance, with detailed reconciliations Reconciliation of Net Income to Net Operating Earnings (Q3) | (in thousands) | Q3 2024 | Q3 2023 | | :--- | :--- | :--- | | **Net Income** | **$114,229** | **$76,115** | | Adjustments, after taxes | ($16,318) | $1,108 | | **Net Operating Earnings** | **$97,911** | **$77,223** | Reconciliation of Net Income to Underwriting Income (Q3) | (in thousands) | Q3 2024 | Q3 2023 | | :--- | :--- | :--- | | **Net Income** | **$114,229** | **$76,115** | | Less: Investment results, taxes, other | ($27,367) | ($3,672) | | **Underwriting Income** | **$86,862** | **$72,443** | [Financial Statements](index=8&type=section&id=Financial%20Statements) The financial statements provide detailed unaudited consolidated income statements and balance sheets, reflecting the company's financial position [Consolidated Statements of Income](index=8&type=section&id=Consolidated%20Statements%20of%20Income) The unaudited consolidated income statement details Q3 2024 revenues and expenses, showing total revenues of **$418.1 million** and net income of **$114.2 million** Q3 2024 Income Statement Highlights (in thousands) | Line Item | Q3 2024 | Q3 2023 | | :--- | :--- | :--- | | Net Earned Premiums | $348,752 | $281,502 | | Total Revenues | $418,058 | $314,367 | | Total Expenses | $273,660 | $218,874 | | Income Before Taxes | $144,398 | $95,493 | | **Net Income** | **$114,229** | **$76,115** | | **Diluted EPS** | **$4.90** | **$3.26** | [Consolidated Balance Sheets](index=9&type=section&id=Consolidated%20Balance%20Sheets) The unaudited consolidated balance sheet shows significant growth in total assets to **$4.73 billion** and stockholders' equity to **$1.43 billion** Balance Sheet Highlights (in thousands) | Line Item | Sept 30, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | Total Investments | $3,847,709 | $2,966,952 | | **Total Assets** | **$4,732,243** | **$3,772,974** | | Total Liabilities | $3,297,294 | $2,686,142 | | **Total Stockholders' Equity** | **$1,434,949** | **$1,086,832** |

Wall Street analysts expect Kinsale Capital Group, Inc. (KNSL) to post quarterly earnings of $3.70 per share in its upcoming report, which indicates a year-over-year increase of 11.8%. Revenues are expected to be $401.22 million, up 27.6% from the year-ago quarter.Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Before a company announces its earnings, it ...

In the latest trading session, Kinsale Capital Group, Inc. (KNSL) closed at $473.22, marking a -0.41% move from the previous day. This move lagged the S&P 500's daily gain of 0.4%. Meanwhile, the Dow gained 0.09%, and the Nasdaq, a tech-heavy index, added 0.63%. The company's stock has climbed by 4.71% in the past month, exceeding the Finance sector's loss of 3.26% and the S&P 500's gain of 3.76%. Market participants will be closely following the financial results of Kinsale Capital Group, Inc. in its upcom ...

The stock has returned more than 2,500% by insuring what others won't. Kinsale Capital Group (KNSL 1.18%) is a niche player in the multitrillion-dollar property and casualty (P&C) insurance industry. The company specializes in excess and surplus (E&S) lines, which insure against odd and hard-to-assess risks. Kinsale Capital has made money hand over fist, and so have shareholders. The stock has returned an astounding 2,500% despite only going public in 2016. An initial $10,000 investment is worth more than $ ...

Shares of Kinsale Capital Group, Inc. (KNSL) have rallied 41% year to date (YTD), outperforming the industry's 28.7% growth. The insurer also outperformed the Zacks S&P 500 composite and the Finance sector's return of 21.9% and 17.1%, respectively, YTD. With a market capitalization of $10.99 billion, the average volume of shares traded in the last three months was 0.1 million. KNSL Outperforms Industry, Sector, S&P YTD Image Source: Zacks Investment Research The rally was largely driven by a focus on the ex ...

The most recent trading session ended with Kinsale Capital Group, Inc. (KNSL) standing at $469.56, reflecting a +0.81% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily gain of 0.61%. On the other hand, the Dow registered a gain of 0.97%, and the technology-centric Nasdaq increased by 0.33%. The the stock of company has risen by 1.88% in the past month, leading the Finance sector's loss of 4.31% and undershooting the S&P 500's gain of 5.36%. The upcoming earnings release ...

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider Kinsale Capital Group, Inc. (KNSL) . This company, which is in the Zacks Insurance - Property and Casualty industry, shows potential for another earnings beat. This company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters w ...

Kinsale Capital Group, Inc. (KNSL) closed the most recent trading day at $486.93, moving +1.94% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.9%. On the other hand, the Dow registered a gain of 0.81%, and the technology-centric Nasdaq increased by 1.22%. The the stock of company has risen by 2.71% in the past month, leading the Finance sector's gain of 0.34% and undershooting the S&P 500's gain of 3.15%. The investment community will be paying close attention to the ear ...

Core Insights - BetterInvesting Magazine has selected Kinsale Capital Group Inc. as its "Stock to Study" and Yum China Holdings Inc. as its "Undervalued Stock" for the December 2024 issue [1] Investment Focus - The Securities Review Committee emphasizes that investors should concentrate on long-term investment strategies rather than attempting to predict political outcomes and their impact on specific companies [2][3] - Factors affecting a company's business fundamentals are deemed more critical for future performance than political events [3] Educational Resources - BetterInvesting provides resources for investors to study the investment potential of Kinsale Capital Group and Yum China, including access to fundamental data and analysis tools [4] - The organization encourages investors to educate themselves about the stock market to make informed decisions [5][6]