Kinsale Capital Group (Nasdaq:Â KNSL) – Buy Recommendation -Â $21.65
The 25-day quiet period on underwriter analyses of Kinsale Capital Group will come to an end on August 22, allowing the firm’s IPO underwriters to publish reports and recommendations on August 23 for the first time since the company went public on July 28.
Kinsale Capital Group provides casualty and property insurance products.
Kinsale Capital’s share price will likely see a temporary increase as a result of the release of underwriter reports, opening a new buying opportunity ahead of the event.
Strong Early Market Performance Keeps Us Optimistic
Kinsale Capital Group was priced at $16, at the high end of its expected price range of $14 to $16. The stock opened at $18.30 on its first day of trading. It reached a high of $19.99 on August 15. Currently, the stock trades at $19.82 (pre-mkt 8.16).
(Nasdaq.com)
Business Overview: Provider of Property and Casualty Insurance Products
Kinsale Capital Group is a provider of excess and surplus insurance products (generally hard to place for small to medium sized businesses). The company is eligible in all 50 states and the District of Columbia. It writes a variety of casualty, property and specialty polices through its 14 underwriting divisions. The company considers a wide range of risks, including companies with new or high hazard operations, and clients that may have a poor loss history or are located in high risk environments.
Kinsale’s commercial lines include offerings in small business, energy, construction, general casualty, excess casualty, life sciences, professional liability, allied health, product liability, health care, environmental, management liability, commercial property, inland marine, and homeowner’s insurance. The company markets and sells its products through a network of independent insurance brokers.
Kinsale uses a proprietary technology platform that it believes is at the vanguard for the insurance industry. The platform allows Kinsale to collect and analyze data quickly and improve response times for clients. The company notes in its SEC filings that it believes this proprietary platform is a key differentiator between Kinsale and its competitors, allowing more capabilities to control expenses.
