Kinsale Capital's Q2 net income rose 31% to $175.9m on stronger underwriting and investment income. The combined ratio improved to 75.5%, and the board authorised a new $250m share buyback.
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Kinsale Capital Group posted net income of $175.9 million for the second quarter of 2026, up 31% from $134.1 million a year earlier. After-tax catastrophe losses came in at $4.2 million, compared with $2.9 million in Q2 2025.
Gross written premiums fell 5% to $527.6 million from $555.5 million. Net written premiums slipped 1.4% to $452.5 million. Net earned premiums, however, rose 8.9% to $417.6 million.
Underwriting income hit $105.4 million, up 10.5% from $95.5 million. The combined ratio improved to 75.5% from 75.8%. Kinsale said the underwriting gain came from growth in net earned premiums and more favorable development of loss reserves from prior accident years. That was partly offset by lower ceding commissions tied to higher retention on the company's reinsurance treaties.
The loss ratio improved to 53.8% from 55.1%. The expense ratio ticked up to 21.7% from 20.7%.
Net investment income rose 19.9% to $55.7 million, driven by growth in the investment portfolio from strong operating cash flows.
“We delivered another quarter of exceptional financial results,” said Michael P. Kehoe, Chairman, President and Chief Executive Officer. “Our business continues to generate consistent and growing underwriting profits and investment income. We are generating significant operating cash flows resulting in excess capital and are pleased to report an additional share repurchase authorisation of $250 million.”
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