KNSL - Why Kinsale Capital Stock Is Plunging Today
2023-10-27 12:14:56 ET
Kinsale Capital Group (NYSE: KNSL) has been a spectacular investment over the years, with the stock up more than 1,800% since its 2016 initial public offering . But Kinsale's latest quarter, though solid, included at least some hint that growth could be slowing.
Investors are taking gains after the results, sending shares of Kinsale down 17% in Friday trading.
Kinsale is an insurance company focused on the obscure. The company writes policies for businesses that most insurers shy away from, things like ax-throwing venues and cannabis dispensaries. That kind of insurance, known as excess and surplus, or E&S, can be more complex to write but tends to be more lucrative than industry norms for those who do it well.
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Why Kinsale Capital Stock Is Plunging Today