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Kinsale Capital Group Announces Pricing of Public Offering of Common Stock

RICHMOND, Va., Aug. 04, 2020 (GLOBE NEWSWIRE) -- Kinsale Capital Group, Inc. (NASDAQ: KNSL) (“Kinsale” or the “Company”) today announced the pricing of its underwritten public offering of 270,000 shares of common stock at a price of $190.00 per share. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 40,500 shares of common stock. Subject to customary conditions, the offering is expected to close on August 7, 2020.

The Company expects to use the net proceeds from the offering of the shares for general corporate purposes, including to fund organic growth. The net proceeds to the Company from the offering of the shares are expected to be approximately $49.2 million after deducting underwriting discounts and commissions and estimated offering expenses, assuming no exercise of the underwriters’ option to purchase additional shares.

J.P. Morgan is acting as sole bookrunner for the offering. Dowling & Partners Securities LLC, JMP Securities, RBC Capital Markets, Truist Securities and William Blair are acting as co-managers for the offering.

The public offering was made pursuant to an automatically effective registration statement on Form S-3 that has been filed with the Securities and Exchange Commission (the “SEC”). A final prospectus supplement and accompanying base prospectus relating to and describing the final terms of the offering will be available on the SEC’s website located at or may be obtained from J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by telephone at (866) 803-9204.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Kinsale Capital Group, Inc.

Kinsale Capital Group, Inc. is a specialty insurance group headquartered in Richmond, Virginia, focusing on the excess and surplus lines market.

Forward-Looking Statements

This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. In some cases, such forward-looking statements may be identified by terms such as “believe,” “expect,” “seek,” “may,” “will,” “intend,” “project,” “plan,” “estimate” or similar words. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Although it is not possible to identify all of these risks and factors, they include, among others, the following: the anticipated use of net proceeds from the offering; inadequate loss reserves to cover the Company’s actual losses; inherent uncertainty of models resulting in actual losses that are materially different than the Company’s estimates; adverse economic factors; a decline in the Company’s financial strength rating; loss of one or more key executives; loss of a group of brokers that generate significant portions of the Company’s business; failure of any of the loss limitations or exclusions the Company employs, or change in other claims or coverage issues; adverse performance of the Company’s investment portfolio; adverse market conditions that affect its excess and surplus lines insurance operations; and other risks described in the Company’s filings with the SEC. These forward-looking statements speak only as of the date of this release and the Company does not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.


Kinsale Capital Group, Inc.
Bryan Petrucelli
Executive Vice President, Chief Financial Officer and Treasurer

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