AM Best Affirms Credit Ratings of Kinsale Insurance Company and Kinsale Capital Group, Inc.
June 23 2022 - 1:03PM
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) [NASDAQ: 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, its strong operating
performance trends that compare favorably with the industry and
peer surplus lines companies, driven by the demonstrated strength
of embedded underwriting fundamentals and an ERM program focused on
the risks specific to the surplus lines market.
The ratings may be considered for positive movement if balance
sheet strength measures maintain pace with premium and profile
growth. Alternatively, negative rating action could occur should
deterioration in operating performance bring results in line with
the composite trends of surplus lines.
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 © 2022 by A.M. Best Rating
Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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Gordon McLean Senior Financial Analyst +1 908
439 2200, ext. 5304 gordon.mclean@ambest.com Greg
Williams Senior Director +1 908 439 2200, ext.
5815 greg.williams@ambest.com Christopher Sharkey
Manager, Public Relations +1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com Jeff Mango Managing
Director, Strategy & Communications +1 908 439
2200, ext. 5204 jeffrey.mango@ambest.com
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