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Mar 31, 2025
Kinsale Q1 2025 Earnings Report
Kinsale Capital Group reported strong earnings performance despite higher catastrophe losses in Q1 2025.
Key Takeaways
Kinsale Capital Group generated $89,227,000 in net income and $423,397,000 in revenue for Q1 2025. The company posted a solid underwriting income and maintained profitability with a combined ratio of 82.1%. Net investment income surged 33% year-over-year, driven by strong operating cash flows.
Net income reached $89,227,000 with EPS of $3.83.
Net operating earnings were $86,419,000 with adjusted EPS of $3.71.
Underwriting income totaled $67,461,000 with a combined ratio of 82.1%.
Net investment income rose to $43,819,000, up 33% from last year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
No formal forward guidance was issued in the report, but the company reaffirmed confidence in its long-term profitability strategy despite catastrophe-related challenges.
Positive Outlook
- Continued confidence in disciplined underwriting strategy.
- Strong operating cash flow supports investment income growth.
- Favorable prior accident year reserve development.
- Conservative investment portfolio with AA- average credit quality.
- Book value per share increased to $67.92.
Challenges Ahead
- Catastrophe losses of $17,800,000 impacted Q1 results.
- Commercial Property Division saw an 18.4% decline in gross written premiums.
- Loss ratio rose due to higher catastrophe events.
- Expense ratio remained elevated due to competitive conditions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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