Kinsale posts adjusted earnings of $5.70 a share as written premiums fall
Key Facts
Kinsale Capital Group reported adjusted diluted operating earnings per share of $5.70 in the third quarter of 2026, alongside declining written premiums and competitive pressure in property insurance. GAAP diluted earnings per share were $4.36, according to the company's earnings release, while the adjusted figure is a non-GAAP operating measure. The company reported GAAP net income of $98.1 million for the quarter, with total revenue reaching $454,798 thousand. In its insurance business, gross written premiums fell 4.8% compared with the third quarter of 2025. Kinsale attributed the decline primarily to "increased competition" in its property insurance divisions, according to the wording in its earnings announcement. The company's combined ratio was 75.4% in the third quarter, alongside the earnings and premium results it reported for the period.
In its investment business, Kinsale's net investment income rose 17.5% in the third quarter of 2026 compared with the corresponding period of 2025, according to the company's statement. Kinsale attributed the growth in this income to the expansion of its investment portfolio during the period. It said portfolio growth came primarily from investing operating cash flows, which the company identified as the factor behind the increase in invested assets. Elsewhere in its investment results, portfolio repositioning reduced the company's pretax earnings by $37.6 million during the third quarter. Kinsale said the repositioning had no impact on book value, despite its recorded effect on pretax earnings.
Against the backdrop of insurers' results, Universal Insurance reported adjusted earnings per share of $1.36 in the third quarter of 2025, according to an earnings call transcript published on Investing.com. That compared with an adjusted loss per share of $0.73 in the third quarter of 2024, marking a return to profitability on this measure between the two periods. Universal's direct written premiums totaled $592.8 million in the third quarter of 2025. That represented a year-over-year increase of 3.2%, according to figures in the earnings call for that period. In underwriting, the company reported a net combined ratio of 96.4%, down 20.5 percentage points from the corresponding quarter a year earlier. The geographical breakdown of its business showed direct written premiums outside Florida grew 22.2% compared with the corresponding period, according to the earnings call transcript. Premiums within Florida, meanwhile, fell 2.6%, partially offsetting the growth the company achieved in other states during the third quarter of 2025.
On capital deployment, Kinsale spent $100.0 million repurchasing its shares during the third quarter of 2026, according to the earnings announcement. The company will discuss the quarter's results on a call scheduled for Friday, October 23, 2026. Kinsale set the call's start time at 09:00 a.m. U.S. Eastern Time. Universal Insurance's official website also announced the date of its quarterly earnings call. Universal's call to discuss its third-quarter 2026 results is scheduled for October 23, 2026.