The company has successfully scaled its total assets from $3.8 billion in 2023Q4 to $6.2 billion by 2026Q1, while maintaining a conservative capital structure with a debt-to-equity ratio of 0.11 as of 2025Q4.
| Total Assets | 6.22B | 5.67B | 4.89B | 3.77B | 2.75B | 2.03B | 1.55B | 1.09B | 773.06M | 667.85M | 614.39M | 545.28M | 437.6M |
| Asset Growth % | 84.82% | 15.95% | 29.52% | 37.34% | 35.62% | 30.95% | 41.85% | 41.07% | 15.75% | 8.7% | 12.67% | 24.61% | - |
| Total Investment Assets | 4M | 5.03B | 3.95B | 2.97B | 2.03B | 1.56B | 1.21B | 807.83M | 1.08B | 958.65M | 429.6M | 688.28M | 268.33M |
| Long-Term Investments | 12.08B | 5.03B | 3.94B | 249.6M | 228.86M | 172.61M | 1.21B | 807.83M | 567.96M | 479.32M | 429.6M | 344.14M | 268.33M |
| Short-Term Investments | 4.4B | 3.86M | 1.81B | 2.72B | 1.8B | 1.39B | 1.08B | 729.53M | 510.25M | 479.32M | 429.6M | 344.14M | 268.33M |
| Total Current Assets | 4.75B | 287.95M | 0 | 517.74M | 0 | 1.75B | 0 | 0 | 667.3M | 580.86M | 67.74M | 491.83M | 382.77M |
| Cash & Equivalents | 223.26M | 163.36M | 113.21M | 126.69M | 156.27M | 121.04M | 77.09M | 100.41M | 75.09M | 81.75M | 50.75M | 24.54M | 23.96M |
| Receivables | 1.32B | 124.59M | 477.92M | 391.05M | 326.21M | 193.97M | 141.86M | 107.06M | 81.04M | 19.79M | 16.98M | 123.15M | 90.48M |
| Other Current Assets | 0 | -3.86M | -2.45B | -52.52M | -2.33B | 7.66M | -1.33B | -953.12M | 923K | 0 | 0 | 0 | 0 |
| Goodwill & Intangibles | 138.57M | 3.54M | 112.8M | 3.54M | 65.13M | 45.51M | 3.54M | 3.54M | 3.54M | 3.54M | 3.54M | 3.54M | 3.54M |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 3.54M | 3.54M | 112.8M | 3.54M | 65.13M | 45.51M | 0 | 0 | 3.54M | 3.54M | 3.54M | 3.54M | 3.54M |
| PP&E (Net) | 0 | 0 | 82.92M | 63.4M | 53.48M | 49.3M | 46.19M | 22.63M | -7.18M | -2.49M | -6.61M | 340.86M | 0 |
| Other Assets | 0 | 305.26M | -4.14B | 3.33B | -347.46M | 9.83M | -1.26B | -834M | -465.74M | -395.87M | 113.52M | -347.68M | -271.87M |
| Total Liabilities | 4.25B | 3.71B | 3.4B | 2.69B | 2B | 1.33B | 970.66M | 684.67M | 509.08M | 429.66M | 404.18M | 431.83M | 345.02M |
| Total Debt | 0 | 224.4M | 184.12M | 183.85M | 195.75M | 85.39M | 42.57M | 16.74M | 0 | 0 | 0 | 29.6M | 27.48M |
| Net Debt | -223.26M | 61.04M | 70.91M | 57.15M | 39.47M | -35.65M | -34.52M | -83.66M | -75.09M | -81.75M | -50.75M | 5.06M | 3.53M |
| Long-Term Debt | 0 | 224.4M | 184.12M | 183.85M | 195.75M | 42.7M | 0 | 0 | 0 | 0 | 0 | 29.6M | 27.48M |
| Short-Term Debt | 0 | 51M | 11M | 0 | 0 | 42.7M | 42.57M | 16.74M | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 0 | 815.89M | 0 | 1.49B | 0 | 1.31B | 0 | 0 | 11.65M | 9.74M | 12.84M | 11.24M | 10.13M |
| Accounts Payable | 0 | 100.69M | 99.12M | 92.5M | 63.38M | 39.36M | 26.32M | 19.52M | 11.65M | 9.74M | 12.84M | 11.24M | 10.13M |
| Deferred Revenue | 0 | 815.89M | 0 | 701.35M | 0 | 347.73M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 0 | -151.69M | -110.12M | 698.77M | -63.38M | 881.34M | -68.89M | -36.26M | -11.65M | -9.74M | -12.84M | -11.24M | -10.13M |
| Deferred Taxes | 61.17M | 1000K | 1000K | 0 | 1000K | 1000K | 1000K | 0 | 1000K | 1000K | 1000K | 0 | 0 |
| Other Liabilities | 0 | 2.6B | 2.83B | 737.94M | 1.54B | 1.11B | -4.65M | 0 | 0 | 0 | 0 | -29.6M | -27.48M |
| Total Equity | 1.97B | 1.96B | 1.48B | 1.09B | 745.45M | 699.34M | 576.24M | 405.88M | 263.99M | 238.19M | 210.21M | 113.45M | 92.59M |
| Equity Growth % | 123.37% | 32.09% | 36.5% | 45.8% | 6.59% | 21.36% | 41.97% | 53.75% | 10.83% | 13.31% | 85.29% | 22.54% | - |
| Shareholders Equity | 1.97B | 1.96B | 1.48B | 1.09B | 745.45M | 699.34M | 576.24M | 405.88M | 263.99M | 238.19M | 210.21M | 113.45M | 92.59M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | 1.82B | 1.72B | 1.23B | 828.25M | 533.12M | 385.94M | 243.31M | 162.91M | 106.55M | 73.5M | 53.64M | 29.57M | 7.3M |
| Common Stock | 235K | 234K | 233K | 232K | 231K | 228K | 228K | 222K | 212K | 210K | 210K | 1K | 1K |
| Accumulated OCI | -65.61M | -30.69M | -97.21M | -94.62M | -134.92M | 18.13M | 41.38M | 13.52M | -1.26M | 9.39M | 3.01M | 3.65M | 5.21M |
| Return on Equity (ROE) | 28.05% | 29.25% | 32.28% | 33.63% | 22.03% | 23.94% | 18.01% | 18.9% | 13.46% | 11.11% | 16.17% | 21.62% | 14.01% |
| Return on Assets (ROA) | 9.06% | 9.54% | 9.58% | 9.45% | 6.67% | 8.55% | 6.7% | 6.79% | 4.69% | 3.88% | 4.51% | 4.53% | 2.96% |
| Equity / Assets | 31.65% | 34.59% | 30.36% | 28.81% | 27.14% | 34.52% | 37.25% | 37.22% | 34.15% | 35.67% | 34.22% | 20.81% | 21.16% |
| Debt / Equity | 0.00x | 0.11x | 0.12x | 0.17x | 0.26x | 0.12x | 0.07x | 0.04x | - | - | - | 0.26x | 0.30x |
| Book Value per Share | - | 84.25 | 63.58 | 46.63 | 32.24 | 30.32 | 25.22 | 18.34 | 12.17 | 11.08 | 9.98 | 5.41 | 4.42 |
| Tangible BV per Share | - | 84.10 | 58.75 | 46.48 | 29.42 | 28.35 | 25.22 | 18.34 | 12.01 | 10.92 | 9.81 | 5.24 | 4.25 |
Social inflation reserve volatility
As reported in recent financial statements, Kinsale's total assets grew from $3.8 billion in 2023Q4 to $6.2 billion by 2026Q1, a trajectory that suggests the company is successfully scaling its balance sheet to support the rapid expansion of its specialty excess and surplus lines insurance portfolio.
The consistent increase in total assets relative to liabilities indicates that the company is effectively managing its capital base while scaling operations. This growth appears to be driven by the accumulation of premiums that have not yet been paid out as claims, providing a larger asset base for investment.
Based on the provided quarterly data, the company's claims and loss obligations have trended upward, reaching $272.4 million in 2025Q3, which suggests that management is proactively adjusting reserves to account for the increasing volume of long-tail casualty risks inherent in their specialty business model.
The rise in loss-related liabilities is a natural consequence of the company's top-line growth, but investors should monitor whether these reserves remain sufficient if social inflation continues to pressure settlement costs. The relationship between these reserves and the company's equity base warrants ongoing scrutiny to ensure long-term solvency.
According to the company's balance sheet filings, total equity has steadily increased from $1.1 billion in 2023Q4 to $2.0 billion in 2026Q1, demonstrating that Kinsale is successfully retaining earnings to bolster its capital buffer against potential underwriting volatility and future catastrophic loss events.
This strengthening of the equity position provides a solid foundation for the company to maintain its underwriting appetite without over-leveraging its balance sheet. The growth in equity appears to be a deliberate strategy to support higher premium volumes while maintaining a conservative capital-to-liability ratio.
As indicated by the historical fluctuation in loss ratios, which peaked at 63.5% in 2025Q1, the company's balance sheet may be more sensitive to social inflation than the headline growth figures suggest, potentially necessitating future reserve strengthening that could impact the company's overall capital adequacy.
While the current balance sheet appears healthy, the reliance on management's estimates for IBNR claims introduces a layer of subjectivity that could mask underlying volatility. Investors should remain cautious, as any adverse development in long-tail casualty lines could quickly erode the capital buffers built during the current hard market.
Quick answers to the most common questions about buying KNSL stock.
As of 2025, Kinsale Capital Group, Inc. (KNSL) had total assets of $5.67B including $288.0M in current assets.
Kinsale Capital Group, Inc. (KNSL) carries total debt of $224.4M, offset by $167.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Kinsale Capital Group, Inc. (KNSL) has total shareholders' equity (book value) of $1.96B ($84.25 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Kinsale Capital Group, Inc. (KNSL) reported a current ratio of 0.35x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.