Kinsale Capital Group (NYSE:KNSL) reported higher operating earnings in Q3, with diluted operating EPS up 9.4%, while diluted GAAP EPS fell 28.4% due to losses from selling fixed-maturity securities during a portfolio repositioning. Gross written premium dropped 4.8% amid intense competition in commercial property, particularly in larger accounts; excluding that division, it fell 0.5%. Submissions rose 6%, which management attributed to a shift toward smaller accounts rather than weaker activity. The combined ratio was 75.4%, and the company sold bonds yielding under 2% and reinvested about $130 million in bonds yielding above 5.5%. Net investment income rose 17.5% to $58.3 million, and float reached $3.5 billion as of Sept. 30.
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