RICHMOND, VIRGINIA — Kinsale Capital Group reported diluted operating earnings per share of $5.54 for the second quarter of 2026, representing an increase compared to the second quarter of 2025. The insurer also announced on July 24, 2026, that it expanded its stock-repurchase authorization by $250 million.

Net income increased year over year in the second quarter of 2026, while net operating earnings increased 13.3% year over year during the same period. The company reported an annualized operating return on equity of 24.4% for the quarter. "Diluted operating earnings per share rose 15.9% from the second quarter of 2025 to $5.54," said Michael Kehoe, Chairman, President and Chief Executive Officer.

The insurer reported a combined ratio for the second quarter of 2026. This metric included 4.5 percentage points of favorable prior-year loss reserve development. Catastrophe losses accounted for 1.3 points of the combined ratio in the second quarter of 2026.

"Losses came in below management's expectations during the quarter, consistent with recent quarters," said Salmaan Allibhai, Chief Analytics and Technology Officer. He added that reserves remain as conservative as they have been in the company's history. In contrast, net earned premium increased 8.9% year over year in the second quarter of 2026.

Excluding Commercial Property, gross written premium grew 3.7% in the second quarter of 2026. Excluding Commercial Property, new-business submissions increased 8% during the second quarter of 2026.

"The company is prioritizing underwriting profitability over top-line expansion as competition varies substantially by market segment," Kehoe said. "The company will not pursue growth that compromises returns," said Stuart Winston, Chief Underwriting Officer.

Kinsale Capital Group's combined pricing trend showed a 5.9% decrease in the second quarter of 2026, according to the MS Amlin pricing index. The expense ratio rose compared to the prior year in the second quarter of 2026. Other underwriting expenses declined to 10.3% from 10.6% in the second quarter of 2026.

Net investment income rose 19.9% from the prior-year quarter. Kinsale Capital Group's float reached $3.4 billion at June 30, 2026. The insurer reported an annualized gross investment return of 4.5% for the first half of 2026.

New-money yields averaged about 5.25% in the first half of 2026. The fixed-maturity portfolio had an average duration of roughly 4.25 years in the first half of 2026.

"Repurchases are the company's principal capital-allocation strategy while growth is more limited," Kehoe said. The company's total current stock-repurchase authorization is $337 million following the expansion.

Kinsale Capital Group introduced product offerings or enhancements in 2026 prior to the second quarter earnings call. The company appointed new wholesale brokers to its Aspera platform. It also appointed new retail brokers to its Aspera platform.

Kinsale Capital Group's financial results illustrate a strategy that emphasizes underwriting discipline and capital returns over rapid premium growth. The increase in diluted operating earnings per share and the rise in net income occurred alongside a decline in gross written premium, indicating that profitability improvements drove earnings rather than top-line expansion.

The expansion of the stock-repurchase authorization by $250 million reinforces the company's focus on returning capital to shareholders when organic growth opportunities are limited. With a combined ratio and an annualized operating return on equity of 24.4%, the insurer maintained strong underwriting performance despite a 5.9% decrease in combined pricing trends according to the MS Amlin pricing index.