KNSL logo

Kinsale Capital Group, Inc. KNSL

Financial ServicesInsurance - Property & CasualtyNYSE📅 Scored June 15, 2026
Price at analysis: $313.59
Crucible Score
77.9
B+
Quality × Value Composite
KQI — Quality
75.6
B+
Fundamental Quality Index
KVI — Value
80.7
A-
Valuation Attractiveness Index
Crucible Verdict — KNSL

Kinsale Capital Group (KNSL) is one of the highest-quality franchises in U.S. property and casualty insurance. A 75.9% combined ratio, 29.3% ROE, and a technology platform 15 years in the making produce economics that peers cannot replicate. The stock trades ~21% below the model's base-case output after a deliberate growth slowdown — management pulled back from soft property pricing while growing casualty lines 13-39%. The framework scores KNSL at 77.9 (B+) with an A- value score, an unusual combination that flags the gap between business quality and current market pricing for further research.

— Kal, Kaladin Capital Intelligence

◆ KQI Quality Dimensions

Financial Quality
83.2
Growth Profile⚠
83.1
Moat Durability⚠
73.7
Management Effectiveness
80.8
Diversification & Resilience
31.0
Market Position
66.0
Weakest dimension: Diversification & Resilience (31.0)

◆ KVI Value Dimensions

DCF Margin of Safety
66.5
FCF Yield & Cash Returns
78.1
Relative Valuation
94.0
Growth-Adjusted Value
86.3
Historical Valuation
94.5
Macro Context
91.2

◆ DCF Valuation Scenarios

Bear Case
$248.70
Base Case
$396.20
Bull Case
$572.50
Price at Analysis
$313.59
ScenarioFair ValueRev CAGR (5yr)Terminal MarginWACC
🔴 Bear$248.708.0%30.0%9.6%
🟢 Base$396.2012.0%33.0%8.9%
🟢 Bull$572.5015.0%36.0%8.5%
Key Assumptions: KNSL has demonstrated exceptional revenue growth (~30% CAGR over 5 years) and expanding operating margins from 23% to 34%, driven by E&S market tailwinds and disciplined underwriting. Base case assumes growth moderates to 12% as the E&S cycle matures with margins stabilizing around 33%; bear case reflects potential competitive pressures and softer pricing compressing margins to 30% with 8% growth; bull case assumes continued market share gains and favorable loss trends sustaining 15% growth with margins expanding to 36%. FCF conversion remains very high given the asset-light insurance model with minimal capex needs.

◆ Financial Snapshot

Profitability

Combined Ratio75.9%
Operating Margin33.8%
Net Margin26.9%
ROIC23.0%
ROE29.3%

Balance Sheet

Expense Ratio20.5%
Cash ConversionFCF/EPS: 1.97x
Capital IntensityCapex/Rev: 2.5%
Piotroski F-Score7/9 (Good)
FCF Yield13.0%

Growth

GWP Growth (FY2025)+5.7%
Casualty Growth+13-39%
Revenue CAGR (5Y)30.1% CAGR
Earnings CAGR34.8% CAGR
Earnings CredibilityConsistent Beater
Casualty Mix70.7% (up from 61.3%)

◆ Analyst Consensus & Leadership

Analyst Price Targets

Avg Target (Last Quarter)$433.00
Analysts Covering (Quarter)1
Avg Target (Last Year)$433.00
Analysts (Year)1

Leadership & Governance

CEOMichael P. Kehoe · ~6 years (founder since 2009)
CEO Ownership5.5%
Compensation81% performance-based
Insider ActivityStrong Buying
Capital AllocationROIC 23.0% vs WACC ~9%
Earnings Beat Rate92% (19/22)

◆ Company Profile

Kinsale Capital Group, Inc. , a specialty insurance company, provides property and casualty insurance products in the United States.

CEO
Bryan Paul Petrucelli
Employees
660
Headquarters
Richmond, VA, US
IPO Date
July 28, 2016
Exchange
NYSE

◆ Related Companies in Our Universe

Other Financial Services companies scored by the Crucible:

ADBE81.8A-NICE80.7A-DECK79.9A-INTU79.9A-EXEL78.3A-MTCH78.2A-TTD78.0B+
MethodologyAll ScoresCrucible BriefsPerformance@KaladinCI

Analysis conducted June 15, 2026 based on most recent SEC filings. Updated quarterly, after new SEC filings.

Point-in-time fundamental analysis. Not investment advice. Scores reflect company quality and valuation at time of analysis and may not reflect current market conditions.

© 2026 Kaladin Capital Intelligence — Conviction Through Scrutiny