Luke Juricic
2 min read
Investing.com — Kinsale Capital Group Inc (NYSE:KNSL) reported third-quarter adjusted earnings per share of $5.70, beating the analyst estimate of $5.11, though shares fell 7% in after-hours trading Thursday following the announcement of a CFO transition.
Revenue for the quarter reached $454.8 million, surpassing the consensus estimate of $404.61 million and up 3.0% YoY from net earned premiums of $410.9 million in the prior-year period. Net income was $98.1 million, or $4.36 per diluted share, compared to $141.6 million, or $6.09 per diluted share, in the third quarter of 2025. The company reported adjusted net operating earnings of $128.3 million, or $5.70 per diluted share, compared to $121.2 million, or $5.21 per diluted share, in the year-ago quarter.
The company announced that Bryan P. Petrucelli, Executive Vice President, Chief Financial Officer and Treasurer, will retire from his executive role on March 2, 2027, and will join the board of directors effective October 22, 2026. Christopher R. Tangard will succeed him as CFO upon Petrucelli’s retirement.
Gross written premiums decreased 4.8% to $462.9 million, primarily due to heightened competition in the company’s property divisions, where premiums declined 19.3%. The company’s casualty business gross written premiums increased 0.9% for the quarter.
“Our underwriting results this quarter demonstrate discipline in a competitive market,” said Chairman, President and Chief Executive Officer Michael P. Kehoe. “We continue to produce exceptional underwriting margins and strong investment income which allows us to return capital to stockholders.”
The company reported a combined ratio of 75.4% for the quarter, compared to 74.9% in the prior-year period. Net investment income increased 17.5% to $58.3 million. During the quarter, Kinsale repurchased 269,004 shares for $100.0 million and paid a dividend of $0.25 per share.
Original Article
Kinsale Capital falls on CFO transition despite Q3 beat
