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Sep 30
Kinsale Q3 2025 Earnings Report
Kinsale reported strong growth in earnings and premiums during the third quarter of 2025.
Key Takeaways
Kinsale Capital Group delivered record third-quarter results driven by higher underwriting income, improved combined ratio, and strong investment returns. Net income and operating earnings per share increased over 24% year-over-year, supported by disciplined underwriting and favorable loss reserve development.
Net income reached $141.6 million, up from $114.2 million in Q3 2024.
Diluted EPS rose 24.3% to $6.09, while operating EPS increased 24.0% to $5.21.
Underwriting income grew to $105.7 million with a combined ratio of 74.9%.
Net investment income climbed 25.1% year-over-year to $49.6 million.
Kinsale
Kinsale
Kinsale Revenue by Segment
Kinsale Revenue by Geographic Location
Revenue by Segment
Gross Written Premiums Revenue
CapyFin.comNet Investment Income Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.com Forward Guidance
Management remains confident in disciplined underwriting and technology-enabled expense management to sustain long-term value creation despite competitive market pressures.
Positive Outlook
- Strong underwriting discipline and consistent profitability.
- Continued growth across most business divisions excluding property.
- Solid investment income supported by higher portfolio yields.
- Favorable development from prior accident years.
- Technology-driven operational efficiencies.
Challenges Ahead
- Pressure on commercial property premiums due to competition.
- Slightly higher expense ratio compared to last year.
- Lower catastrophe losses this quarter may not persist.
- Market rate softening in some insurance segments.
- Potential volatility from equity investment valuations.