Shefi Ben-Hutta
Editor at Coverager
Kinsale Capital Group

Kinsale Capital reports Q4’24 results

Kinsale Capital Group hosted its Q4 2024 earnings call on February 14. Highlights include:

  • Revenue: $412.1M (-1% YoY); full-year revenue at $1.59B.
  • Net Income: $4.62 per share in Q4 (+7% YoY); full-year EPS at $16.06 (+2% YoY).
  • Combined Ratio: 73.4% for Q4; full-year operating ROE at 29%.
  • Premium Growth: Gross written premiums grew 12.2% in Q4, with casualty underwriting up 15% and property up 6%.
  • Investment Income: Increased by 37.8% YoY due to portfolio growth and higher interest rates.
  • Wildfire Losses: Estimated $25M in pre-tax losses from Southern California wildfires.
  • Share Buybacks: $10M repurchased in Q4; similar levels expected going forward.
  • Market Position: Kinsale continues leveraging its low-cost model and technology investments to maintain competitive underwriting margins.
  • Expansion: Introduced a new agribusiness underwriting unit and is increasing its focus on personal insurance opportunities. “This is part of our ongoing effort to gradually expand our product line so that we can offer solutions for all tough-to-place E&S accounts across the U.S., no matter what coverage or sector of the economy.”
  • Outlook: Expects 10%-20% annual premium growth, balancing profitability with expansion in high-margin specialty lines.