Kinsale Capital (US:KNSL) The Motley Foolยท2024-10-25 18:10Core Insights - Kinsale Capital reported a 50% growth in earnings per share for Q3, but shares fell 8% due to slower gross written premium growth of 19% amid increasing competition [1][2] - The company maintained a strong combined ratio of 75.7%, indicating profitability, despite exposure to Hurricanes Francine and Helene [2] - CEO Michael Kehoe anticipates long-term growth rates of 10% to 20%, making the Q3 growth of 18% acceptable [2][3] Financial Performance - Q3 earnings per share increased by 50% [1] - Gross written premium growth slowed from 34% to 26%, then to 21%, and now to 19% over the last four quarters [2] - Kinsale's combined ratio of 75.7% is among the best in its peer group [2] Market Reaction - Shares of Kinsale Capital dropped 8% following the earnings report, reflecting market expectations for near-perfect results [1] - The market is tempering growth expectations due to the deceleration in gross written premium growth [2] Future Outlook - Losses from Hurricane Milton in Q4 are expected to be under $10 million, which is manageable for the company valued at $11 billion [3] - Despite temporary slowdowns in growth rates, Kinsale's profitability remains strong [3]