Kinsale Capital Group (KNSL) Q2 2026 earnings summary

Executive summary

• Net income for Q2 2026 rose 31.1% year-over-year to $175.9 million, driven by strong underwriting and investment results, with diluted operating EPS up 15.9% and annualized operating ROE at 24.4%.

• Gross written premiums declined 5.0% due to a 32.7% drop in the Commercial Property Division, but net earned premiums increased 8.9% year-over-year.

• Combined ratio was 75.5% for Q2 2026, reflecting strong underwriting profitability.

• Excluding Commercial Property, gross written premium grew 3.7% for the quarter, with most divisions seeing double-digit submission growth.

• Company continues to prioritize profitability and disciplined growth amid competitive market conditions.

Financial highlights

• Net income for the first half of 2026 increased 29.1% to $288.4 million, with net operating earnings up 13.3% and net earned premiums rising 10.0%.

• Net investment income grew 19.9% year-over-year to $55.7 million in Q2 2026 and $111.2 million for the first half.

• Float reached $3.4 billion at June 30, up from $3.1 billion at year-end 2025.

• Diluted operating EPS was $5.54, up from $4.78 in Q2 2025.

• Book value per share increased to $89.34 at June 30, 2026.

Outlook and guidance

• Management expects sufficient liquidity and capital resources to meet obligations and support growth for the next 12 months.

• Year-over-year growth comparisons expected to ease in the next two quarters due to prior period Commercial Property premium timing.

• Management remains focused on maintaining a 20%+ ROE and disciplined underwriting across product lines.

• Growth will be opportunistic, with discipline on pricing and underwriting standards.

• Forward-looking statements highlight risks from competition, loss reserves, investment performance, and market conditions.