Added to YB: 2026-03-03
Pitch date: 2026-03-01
KNSL [neutral]
Kinsale Capital Group, Inc.
+2.1%
current return
Author Info
Slow Compounding is an ex buy-side analyst looking for high-quality companies that create high shareholder returns. Investing for the long-term. Sign up for the newsletter.
Company Info
Kinsale Capital Group, Inc. engages in the provision of property and casualty insurance products in the United States.
Market Cap
$9.0B
Pitch Price
$384.90
Price Target
N/A
Dividend
0.26%
EV/EBITDA
13.96
P/E
18.00
EV/Sales
4.85
Sector
Insurance
Category
growth
Kinsale Q4 2025 & Full Year 2025
KNSL (earnings): Q4 EPS $5.99 (+28% YoY) despite GWP +1.8% as growth decel concentrated in Commercial Property (-28% Q4) from soft pricing. Ex-Property, GWP +10.2% Q4, +13.3% FY25. Policy count +19% signals pricing headwind, not demand issue. 71.7% Q4 combined ratio (lowest ever), 75.9% FY25; 21.6% expense ratio vs peers' mid-30s+ = structural moat. Conservative reserving w/ favorable PYD every year. Investment income +27.9% FY25 on higher yields; equity allocation growing (BRK, AAPL, MSFT, V). ROE 29%, raised dividend to $0.25, new $250M buyback. AI driving automation & better risk segmentation to compress combined ratio further. Mgmt expects Property to stabilize in couple quarters; non-Property holding low-double-digit growth. 15-pt cost edge = weapon in soft market; positioned to accelerate when cycle turns.
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