Kinsale Capital Q3 adjusted EPS beats estimates despite competition hitting premiums
KNSL•Kinsale Capital reported Q3 adjusted EPS of $5.70, above the $5.13 analyst consensus, while gross written premiums fell 4.8% year over year to $462.87 million. The company repurchased $100 million of shares during the quarter.
1. Q3 results
Kinsale Capital’s adjusted EPS was $5.70, beating the $5.13 consensus estimate. Gross written premiums fell 4.8% year over year to $462.87 million, mainly because of increased competition in property divisions, especially commercial property.
2. Other results and outlook
The company reported EPS of $4.36, a combined ratio of 75.4% and a return on equity of 19.9%. Higher net investment income, driven by portfolio growth and strong operating cash flows, and more favorable development of prior-year loss reserves benefited results. Kinsale said property market competition remains heightened and expects disciplined underwriting, low technology-enabled costs and strong investment income to support long-term value creation and shareholder returns.
