Kinsale operating EPS rises 9% even as property premiums shrink

Kinsale Capital Group squeezed out higher operating earnings even as its premium volume fell, with a sharp pullback in property business weighing on growth.

Net operating earnings rose to $5.70 per diluted share in the third quarter from $5.21 a year earlier, according to its earnings release filed with an 8-K on Thursday. Net income fell to $98.1 million, or $4.36 a share, from $141.6 million, or $6.09, reflecting a $37.6 million pre-tax realized loss from repositioning its securities portfolio.

Property pullback

Gross written premiums declined 4.8% to $462.9 million. Premiums in the property divisions fell 19.3%, including a 26.8% drop in commercial property, while casualty premiums edged up 0.9%.

Net earned premiums still rose 3.0% to $423.5 million, and net investment income climbed 17.5% to $58.3 million. The combined ratio was 75.4%.

In a separate filing the same day, Kinsale said CFO Bryan Petrucelli will retire in March 2027, with Chief Accounting Officer Christopher Tangard named as his successor.

By the numbers

• Operating EPS: $5.70, vs. $5.21
• Net EPS: $4.36, vs. $6.09
• Gross written premiums: $462.9 million, down 4.8%
• Net investment income: $58.3 million, up 17.5%
• Combined ratio: 75.4%

Sources

1. Kinsale Capital Group, Inc., Form 8-K (Item 2.02) with Exhibit 99.1 earnings release dated Oct. 22, 2026, accession 0001669162-26-000049

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