Kinsale Capital Group, Inc. (KNSL) Q2 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to the Q2 2023 Kinsale Capital Group, Inc. Earnings Conference Call. Before we get started, let me remind everyone that through the course of this teleconference, Kinsale'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 2022 annual report on Form 10-K, which should be reviewed carefully. The company has furnished a Form 8-K with the Securities and Exchange Commission that contains the press release announcing its second quarter results. Kinsale'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.kinsalecapitalgroup.com. I'll now turn the conference over to Kinsale's president and CEO, Mr. Michael Kehoe. Please go ahead, sir. Thank you, operator, and good morning, everyone. Brian Petrucelli, our CFO, and Brian Haney, our COO, are both on the call this morning as well. Each of us will make a few comments, and then we'll move on to any questions you may have. In the second quarter, 2023, Kinsale's operating earnings per share increased by 50%. and gross written premium grew by 58.2% over the second quarter of 2022. For the quarter, the company posted a combined ratio of 76.7% and an operating ROE return on equity of 30.6% for the six months. These results follow from the company's strategy of both disciplined E&S underwriting and technology-enabled low costs. which allows us to generate attractive returns and to take ...