JUNE 10, 2021 08:58 AM (EDT)
AM Best Affirms Credit Ratings of Kinsale Insurance Company and Kinsale Capital Group, Inc.
|Robert Raber |
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+1 908 439 2200, ext. 5815
Manager, Public Relations
+1 908 439 2200, ext. 5159
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FOR IMMEDIATE RELEASE
OLDWICK - JUNE 10, 2021 08:58 AM (EDT)
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.
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 media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
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.