AM Best Revises Issuer Credit Rating Outlooks to Positive for Kinsale Insurance Company and Kinsale Capital Group, Inc.
02 Agosto 2024 - 2:16PM
Business Wire
AM Best has revised the outlook to positive from stable
for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed
the Financial Strength Rating (FSR) of A (Excellent) and the
Long-Term ICR of “a” (Excellent) of Kinsale Insurance Company
(Kinsale) (Little Rock, AR). The outlook of the FSR is stable.
Concurrently, AM Best has revised the outlook to positive from
stable for the Long-Term ICR and affirmed the Long-Term ICR of
“bbb” (Good) of Kinsale Capital Group, Inc. (Kinsale Capital)
(headquartered in Richmond, VA) [NYSE: KNSL].
These Credit Ratings (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, which consider recent capital
raises in support of planned premium growth, its sustained strong
operating performance trends that compare favorably with the
industry and peer surplus lines companies. These trends reflect
Kinsale’s focus on underwriting fundamentals, conservative
reserving, and an ERM program focused on the risks specific to the
surplus lines market.
The positive outlook on the Long-Term ICR of Kinsale reflects AM
Best’s expectation that it will maintain a balance sheet strength
assessment in the very strong range, its operating performance will
remain favorable when compared with the industry and peer
companies, its business profile will diversify organically through
ongoing profitable growth, and the ERM will remain appropriate for
the scale, scope and complexity of the organization.
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.
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Gordon McLean Senior Financial Analyst +1 908
882 2109 gordon.mclean@ambest.com Christopher Sharkey
Associate Director, Public Relations +1 908 882 2310
christopher.sharkey@ambest.com Greg Williams Senior
Director +1 908 882 2434 greg.williams@ambest.com Al
Slavin Senior Public Relations Specialist +1 908 882
2318 al.slavin@ambest.com