Kinsale Capital Group, Inc. (KNSL) Earnings
Kinsale Capital Group, Inc. is expected to report next earnings on July 23, 2026 (in NaN days), with a consensus EPS estimate of $5.07. KNSL has beaten EPS estimates in 12 of its last 12 reported quarters (average surprise +8.9% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 24, 2026 | $4.70 | $5.11 | +8.7% | $403M | -0.6% |
| Feb 12, 2026 | $5.30 | $5.81 | +9.6% | $483M | +1.1% |
| Oct 23, 2025 | $4.79 | $5.21 | +8.8% | $498M | +6.4% |
| Jul 24, 2025 | $4.41 | $4.78 | +8.4% | $470M | +11.2% |
| Apr 24, 2025 | $3.15 | $3.71 | +17.8% | $423M | -0.4% |
| Feb 13, 2025 | $4.23 | $4.62 | +9.2% | $412M | -1.1% |
| Oct 24, 2024 | $3.60 | $4.20 | +16.7% | $418M | +0.1% |
| Jul 25, 2024 | $3.53 | $3.75 | +6.2% | $383M | +2.9% |
| Apr 25, 2024 | $3.34 | $3.50 | +4.8% | $373M | +5.4% |
| Feb 15, 2024 | $3.39 | $3.87 | +14.2% | $351M | +5.5% |
| Oct 26, 2023 | $2.84 | $3.31 | +16.5% | $314M | -2.5% |
| Jul 27, 2023 | $2.50 | $2.88 | +15.2% | $296M | +2.6% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 24, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Disciplined underwriting and low-cost business model is the investment thesis, with no outsourcing of underwriting operation. - 17-year commitment to technology and analytics as core competency, allowing smarter business and cost advantage. - In first quarter, new business submissions up 6%, quotes up 8%, bind orders up 9%. - Continued focus on smaller transactions due to intense competition in larger accounts. - Technology innovation, including use of AI models for automation in business processes. - Quarterly disclosure of gross written premium by underwriting division added, complementing annual disclosure in 10K.
Guidance
- Confidence in the Consale model to perform throughout market cycles. - Feel good about opportunities for profit and growth in the long-term, with adaptability as a competitive advantage.
Segment performance
In the first quarter of 2026, ConSales diluted operating earnings per share increased by 37.7% over the first quarter of 2025, generating an annualized operating return on equity of 24%. Gross written premium was down half of 1%, but net written premium grew by 5.6%. Sales combined ratio was 77.4%. Excluding the commercial property division, Kinsale's growth in gross written premium was 6% for the first quarter. Net investment income increased by 26.5% for the first quarter. Kinsale's float grew to $3.3 billion at March 31, 2017, from $3.1 billion at the end of 2025. Annual gross return was 4.5% for the quarter. Diluted earnings per share was $5.11 per share for the quarter. Within the E&S market, some divisions like small business property, inland marine, agribusiness property, personal insurance, agribusiness casualty, allied health, general casualty, healthcare, entertainment, and product liability had favorable underwriting conditions and growth, while large commercial property division faced competition and headwinds.
Risks & headwinds
- Competition in E&S market varying by segment, with large commercial property division facing intense competition and falling rates as a headwind to growth. - Risk factors listed in SEC filings, including those in 2025 Annual Report on Form 10-K, which could cause actual results to differ from forward-looking statements.
Analyst Q&A
Q: Dan Cohen with BMO Capital Markets asked about new business quotes and bind orders trend year over year and quarter over quarter, and if Consent is willing to deteriorate accident-year loss ratio for higher growth.
A: Mike said granular disclosure has volatile numbers, not to overthink, and they manage product lines to low 20s ROE or greater, with 24% ROE for the quarter, so no meaningful deterioration expected.
Q: Christian Getzolf with Wells Fargo asked about accident-year-loss ratio movement.
A: Solomon said nothing out of the ordinary, normal seasonality.
Q: Christian Getzolf asked about ENS homeowners decline.
A: Stuart said high value market has increased competition, lower limits, average premium dropping, but personal insurance division still growing.
Q: Christian Getzolf asked about reinsurance renewal.
A: Mike said they look at reinsurance retentions every year, renewal date is 6-1, but can't commit on treaties now.
Q: Andrew Anderson with Jefferies asked about casualty competitive behavior change.
A: Andrew said competitive market, more competition on long-tail lines like construction, but premises liabilities strong, auto has opportunities, focus on small to medium-sized accounts.
Q: Andrew Anderson asked about submission growth slowdown and broker relationships.
A: Mike said submission growth is a leading indicator, competitive market, steady, excited about growth prospects, shift from larger accounts, and new broker appointments are looked for.
Q: Pablo Singzon with JP Morgan asked about retention and delta between gross premium and submission.
A: Stuart said new business hit ratios and renewal hit ratios have been consistent.
Q: Pablo Singzon asked about technology enabling competitors to be more competitive with smaller customers.
A: Mike said technology is a core competency, they have an expense ratio advantage, can adapt new technologies quickly due to no legacy software.
Q: Mark Hughes with Truist asked about property competition and pricing, and ROE target.
A: Mark said easier comps in second half, they're confident in low 20s ROE, use expense advantage and underwriting advantage, subordinate growth to profitability.
Q: Roland Mayer with RBC Capital Markets asked about commercial property division and ROE target.
A: Stuart said commercial property division is for large shared and layered deals, average premium in that division is 30-40k per policy, they're confident in low 20s ROE.
Q: Pablo Singzon with JP Morgan asked about submission growth rate compared to market.
A: Mike said they don't have specific info on overall market, but brokers canvas market for best terms, assume some commonality in stats.
Q: Mark Hughes with Truist asked about construction volume and general casualty growth.
A: Stuart said no delay seen in construction, don't focus on large project-specific policies, general casualty growth stats not provided today.