Kinsale Capital reports 24.4% annualized operating ROE and a 75.5% combined ratio despite premium declines in a competitive E&S market.
Kinsale Capital Group posted a 15.9% year-over-year increase in second-quarter diluted operating earnings per share to $5.54. The insurer achieved an annualized operating return on equity of 24.4% and a combined ratio of 75.5%, reflecting continued underwriting profitability.
Gross written premium fell 5% year over year, while net written premium declined 1.4%. Net earned premium rose 8.9%, driven by prior-period policies. Management cited a competitive excess-and-surplus insurance market, particularly in commercial property, where rate declines and broader coverage terms pressured premiums.
Excluding commercial property, gross written premium grew 3.7% in the quarter and 4.8% in the first half of 2026. The company emphasized prioritizing underwriting profitability over volume expansion amid varying competition across segments.