earnings
confidence high
sentiment neutral
materiality 0.80
Kinsale Q3 net income down 9.9% to $1.43 EPS; gross premiums up 43.8% to $284.1M
Kinsale Capital Group, Inc.
2022-Q3 EPS reported
$3.98
revenue$576,236,000
- Net income $33.0M ($1.43 diluted EPS) vs $36.6M ($1.59) in Q3 2021; after-tax catastrophe losses $20.6M (mostly Hurricane Ian).
- Net operating earnings $37.9M ($1.64 diluted), up 3.3% YoY; gross written premiums surged 43.8% to $284.1M.
- Combined ratio 83.6% vs 75.7% in Q3 2021; loss ratio included 12.5 points from Hurricane Ian.
- Net investment income rose 71.2% to $13.9M; annualized operating ROE 24.3% for nine months.
- Underwriting income $34.3M vs $38.1M; favorable reserve development $11.0M in Q3.