Kinsale Capital Group, Inc. (KNSL) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Before we get started, let me remind everyone that through the course of the teleconference, Kentel's management may make comments that reflect their intentions, beliefs, and expectations for the future. As always, these forward-looking statements are subject to certain risk factors, which could cause actual results to differ materially. These risk factors are listed in the company's various SEC filings, including the 2025 Annual Report on Form 10-K. which should be reviewed carefully. The company has furnished a Form 8K with the Securities and Exchange Commission that contains the press release announcing its first quarter results. Kinsel's management may also reference certain non-GAAP financial measures in the call today. A reconciliation of GAAP to these measures can be found in the press release, which is available at the company's website at www.kinsel.com. I will now turn the conference over to Kinsel's chairman, president, and CEO, Mr. Michael Keough. Please go ahead, sir. Thank you, operator, and good morning, everyone. Today I'm joined by Brian Petrucelli, our chief financial officer, Stuart Winston, our chief underwriting officer, and Salman Alibey, our chief actuary and head of our data and analytics team. In the first quarter of 2026, ConSales diluted operating earnings per share increased by 37.7% over the first quarter of 2025, generating an annualized operating return on equity of 24%. Gross written premium was down half of 1%, but net written premium grew by 5.6% for the quarter, as our business lines with the least reinsurance participation continued to show positive top-line growth. Sales combined ratio was 77.4%. E&S market conditions in the first quarter continued to be competitive, with the level of competition and our growth rate varying from o...