Kinsale Capital Group Inc., (Nasdaq: KNSL) expects to raise $110.4 million in its upcoming IPO. Based in Richmond, Virginia, Kinsale Capital Group is a company that offers property and casualty insurance products.
We previewed the deal on our IPO Insights platform last week.
Kinsale Capital Group will offer 6.0 million shares at an expected price range of $14 to $16.
KNSL filed for the IPO on July 1, 2016.
Lead Underwriters: J.P. Morgan Securities and William Blair & Co.
Underwriters: Dowling and Partners Securities, Moelis & Company, RBC Capital Markets, and SunTrust Robinson Humphrey
Business Summary: Company that Provides Property and Casualty Insurance Products
Kinsale Capital Group was founded in 2009 and offers excess and surplus insurance (E&S). E&S is a segment of the insurance market that provides property and casualty insurance for consumers with either poor loss history or unique risks. KNSL is eligible in all states in the US and markets its products through a network of independent insurance brokers. The company provides property, casualty, and specialty lines across fourteen underwriting divisions.
KNSL markets itself as being highly efficient, due to its proprietary technology platform. In its filing with the SEC, the company states that their systems and technology allow them to quickly collect and analyze data on hard-to-place small business risks. This improves their response times with customers, processes, and controls expenses, and enables them to maintain control over underwriting and claims operations.
Use of Proceeds: Towards Insurance Subsidiary
KNSL intends to use the net proceeds of the IPO to make contributions their insurance subsidiary and for other general corporate purposes.
Executive Management Overview
According to company filings, CEO and President Michael Kehoe founded Kinsale Capital Group in 2009. His previous experience includes positions at Colony Management Services and James River Group. He holds a J.D. from the University of Richmond School of Law and a B.A. in Economics from Hampden Sydney College.
