Kinsale Capital (US:KNSL)2026-02-12 21:11Financial Performance - Net income for Q4 2025 was $138.6 million, or $5.99 per diluted share, up from $109.1 million, or $4.68 per diluted share in Q4 2024, representing a 27.0% increase[1] - For the full year 2025, net income reached $503.6 million, or $21.65 per diluted share, compared to $414.8 million, or $17.78 per diluted share in 2024, marking a 21.4% increase[1] - Net income for the year ended December 31, 2025, was $503.614 million, compared to $414.843 million in 2024, a 21% increase[18] - Basic earnings per share for Q4 2025 were $6.01, an increase of 27.7% from $4.71 in Q4 2024[26] - Diluted operating earnings per share increased to $19.51 for the year ended December 31, 2025, from $16.06 in 2024, a growth of 21%[18] Premiums and Revenues - Gross written premiums for Q4 2025 were $451.1 million, a 1.8% increase from $443.3 million in Q4 2024; for the full year, gross written premiums were $2.0 billion, up 5.7% from $1.9 billion in 2024[4] - Net written premiums increased by 7.1% to $370.6 million in Q4 2025, and by 9.4% to $1.6 billion for the full year 2025 compared to 2024[7] - Net earned premiums increased to $415.5 million in Q4 2025, up 15.5% from $359.7 million in Q4 2024[26] - Total revenues for the year ended December 31, 2025, were $1.87 billion, a 17.9% increase compared to $1.59 billion in 2024[26] Underwriting and Investment Income - Underwriting income for Q4 2025 was $120.6 million with a combined ratio of 71.7%, improving from $97.9 million and a combined ratio of 73.4% in Q4 2024[8] - Underwriting income for the year ended December 31, 2025, was $389.167 million, up from $325.881 million in 2024, reflecting a 19% increase[20] - Net investment income rose by 24.9% to $52.3 million in Q4 2025, and by 27.9% to $192.2 million for the full year 2025 compared to 2024[12] - The company reported net investment income of $52.3 million in Q4 2025, a 25% increase from $41.9 million in Q4 2024[26] Shareholder Returns and Equity - The company repurchased 119,752 shares at an average price of $417.52 per share for a total cost of $50.0 million in Q4 2025, completing the initial $100 million repurchase authorization[13] - A new share repurchase authorization of $250 million was announced in December 2025, reflecting the company's commitment to returning capital to shareholders[14] - A cash dividend of $0.25 per share was declared in February 2026, a 47.1% increase from the previous dividend, indicating confidence in the company's financial position[14] - Stockholders' equity increased to $2.0 billion as of December 31, 2025, up from $1.5 billion a year earlier[16] - Stockholders' equity grew to $1.96 billion as of December 31, 2025, up 32.1% from $1.48 billion in 2024[28] - Average stockholders' equity for 2025 was $1.721572 billion, compared to $1.285197 billion in 2024, indicating a significant growth in equity[18] Assets and Liabilities - Total assets as of December 31, 2025, amounted to $6.04 billion, up from $4.89 billion in 2024, reflecting a 23.6% growth[28] - Total liabilities increased to $4.08 billion in 2025, up from $3.40 billion in 2024, marking a 20.1% increase[28] - Reserves for unpaid losses and loss adjustment expenses increased to $2.89 billion, compared to $2.29 billion in the previous year, a rise of 26.5%[28] Tax and Financial Outlook - The effective tax rate for 2025 was 20.6%, up from 19.4% in 2024, primarily due to lower stock option exercises[15] - Operating return on equity for 2025 was 26.4%, down from 29.2% in 2024[16] - Forward-looking statements indicate potential risks including adverse economic factors and performance of the investment portfolio[22] Upcoming Events - The company plans to discuss its financial results in a conference call on February 13, 2026[21]