OLDWICK, N.J.--(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 affirmations reflect the stability in Kinsale’s risk-adjusted capital levels, its operating performance trends consistently comparing favorably with the industry and to peer surplus lines companies, the strength of its embedded underwriting fundamentals and an enterprise risk management program encompassing the risks specific to the surplus lines market.
The ratings may be considered for positive movement if balance sheet strength measurements maintain pace with premium and profile growth. Negative rating action could occur if deterioration in operating performance brings results in line with surplus lines composite trends.
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