AM Best Affirms Credit Ratings of Kinsale Insurance Company and Kinsale Capital Group, Inc.

Rhea-AI Summary

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” (Excellent) of Kinsale Insurance Company. The Long-Term ICR of Kinsale Capital Group, Inc. has also been affirmed as 'bbb' (Good). The ratings reflect Kinsale’s very strong balance sheet strength, strong operating performance, neutral business profile, and appropriate enterprise risk management. The stability in Kinsale’s risk-adjusted capitalization levels and sustained strong operating performance trends are key factors in the rating affirmations.

OLDWICK, N.J.--(BUSINESS WIRE)-- AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” (Excellent) of Kinsale Insurance Company (Kinsale) (Little Rock, AR). Concurrently, AM Best has affirmed the Long-Term ICR of “bbb” (Good) of Kinsale Capital Group, Inc. (Kinsale Capital) (headquartered in Richmond, VA) [NYSE: KNSL]. The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect Kinsale’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management (ERM).

The rating affirmations reflect the stability in Kinsale’s risk-adjusted capitalization levels, which considers recent capital raises in support of planned premium growth, its sustained strong operating performance trends that compare favorably with the industry and peer surplus lines companies. These trends reflect Kinsale’s focus on underwriting fundamentals, conservative reserving, and an ERM program focused on the risks specific to the surplus lines market.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230721912331/en/

Gordon McLean

Senior Financial Analyst

+1 908 882 2109

gordon.mclean@ambest.com

Christopher Sharkey

Associate Director, Public Relations

+1 908 882 2310

christopher.sharkey@ambest.com

Greg Williams

Senior Director

+1 908 882 2434

greg.williams@ambest.com

Al Slavin

Senior Public Relations Specialist

+1 908 882 2318

al.slavin@ambest.com

Source: AM Best

FAQ

What are the ratings of Kinsale Insurance Company?

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” (Excellent) of Kinsale Insurance Company.

What are the ratings of Kinsale Capital Group, Inc.?

AM Best has affirmed the Long-Term ICR of 'bbb' (Good) of Kinsale Capital Group, Inc.

What factors contributed to the rating affirmations?

The rating affirmations reflect Kinsale’s very strong balance sheet strength, strong operating performance, neutral business profile, and appropriate enterprise risk management. The stability in Kinsale’s risk-adjusted capitalization levels and sustained strong operating performance trends are key factors.