Kinsale (KNSL) Q4 2025 Earnings Call Transcript | The Motley Fool
The Motley Fool
by newsfeedback@fool.com (Motley Fool Transcribing)February 13, 2026
AI-Generated Deep Dive Summary
Kinsale Capital Group (KNSL) delivered impressive financial results in its Q4 2025 earnings call, highlighting strong profitability and balance sheet growth. Diluted operating earnings per share (EPS) jumped 26% to $5.81, driven by improved underwriting efficiency and favorable prior-year loss reserve developments. Net written premium rose 7.1%, despite a modest 1.8% increase in gross written premium, reflecting strategic reinsurance retention strategies. The combined ratio improved to 71.7%, with significant contributions from net favorable prior-year loss reserves. Operating return on equity (ROE) reached 26%, showcasing the company’s capital efficiency and strong financial performance.
Key highlights included a 33% increase in book value per share since the end of 2024, signaling robust balance sheet growth, and a 23% rise in float to $3.1 billion. The expense ratio remained efficient at 20.8%, with operational underwriting expenses improving by 0.5 points year-over-year. Net investment income surged 24.9%, supported by portfolio expansion and strong cash flow generation. Excluding its struggling commercial property division, gross written premium grew 10.2% for the quarter and 13.3% annually, driven by strong performance in other lines of business.
Kinsale also demonstrated leadership in technology adoption, with all employees granted access to an enterprise AI license and dozens of bots and agents deployed to enhance productivity and risk segmentation. Management emphasized its expense ratio of under 21%, significantly outperforming competitors who often exceed 30%. However, the commercial property division remained a headwind, with premium contraction due to heightened competition
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Originally published on The Motley Fool on 2/13/2026