Q2 2026 Kinsale Capital Group Inc Earnings Call Transcript
Key Points
- Kinsale Capital Group Inc (KNSL) reported a 15.9% increase in diluted operating earnings per share over the second quarter of 2025, with an annualized operating return on equity of 24.4%.
- The company achieved a combined ratio of 75.5% for the quarter, indicating strong underwriting performance.
- Net investment income increased by 19.9% year-over-year, driven by growth in the investment portfolio from strong operating cash flows.
- Kinsale Capital Group Inc (KNSL) continues to leverage technology and analytics to enhance underwriting and pricing models, contributing to exceptional loss ratios.
- The company expanded its stock buyback authorization by an additional $250 million, reflecting confidence in its business model and share value.
- Gross written premium decreased by 5%, and net written premium was down 1.4% for the quarter, indicating challenges in premium growth.
- The Commercial Property division faced intense competition, leading to material rate declines and a shrinking volume of business.
- The expense ratio increased to 21.7% from 20.7% last year, attributed to higher net commission ratios due to increased reinsurance retentions.
- The E&S market conditions remain competitive, with varying growth rates across different market segments.
- Kinsale Capital Group Inc (KNSL) is experiencing pricing pressure in certain lines, such as commercial property, which could impact future profitability.
Hello, everyone. Thank you for joining us and welcome to the second-quarter 2026 Kinsale Capital Group Inc., earnings conference call. After today's prepared remarks, we will host a question-and-answer session.
(Operator Instructions)
Before we get started, let me remind everyone that through the course of the teleconference, Kinsale's management may make comments that reflect their intentions, beliefs, and expectations for the future.
As always, these forward-looking statements are subject to certain risk factors, which could cause actual results to differ materially. These risk factors are listed in the company's various SEC filings, including the 2025 annual report on Form 10-K, which should be reviewed carefully.
The company has furnished a Form 8-K with the Securities and Exchange Commission that contains the press release announcing its second quarter results.
Kinsale's management may also reference certain non-GAAP financial measures in the call today. A reconciliation of GAAP to these can be found in the press release, which is available at the
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