This Best’s Ranking report presents the top property and casualty writers as ranked by 6-month 2020 net premiums written as of June 30, 2020. Got it. I think everybody understands that, that market's been in shambles for a number of years now, which obviously creates opportunities. So when they cancel that program at renewal, their agent is going to be scrambling to find somewhere to place them.

The last year or two, I think our excess casualty unit has grown at a pretty brisk pace. But obviously, at some point, it will abate as new capital comes into the industry and the like. But they're still going to have to buy insurance next year. Just as a reminder, Matt -- I was just going to say, just as a reminder, thi is Mike. Separate and apart from that, you've got other competitors restructuring. Brian Haney will provide some additional commentary on this topic here in a moment. The accident year loss ratio has been quite stable. Stock Advisor launched in February of 2002. There's a standard company that used to put up $10 million excess policies, and they've reduced that to $2 million. Great. And likewise, how long that will take to -- the tail will develop like, etc.? Kinsale's management may also reference certain non-GAAP financial measures in the call today. This web site needs javascript enabled to work properly.

And then beyond that, we're hiring, continuing to hire folks in our underwriting claims and IT areas primarily.

Some competitors are reacting to substandard results by restructuring books of business, canceling programs and withdrawing capacity. And so I think the -- where the accident year ratio is for the quarter, I think it was pretty spot on with the second quarter of 2020. Mark, the reinstatement premium for the quarter is $1.9 million. 2018 Best’s Rankings: U.S. Property/Casualty – 2017 Financial Results. But I would just say that, hey, we've been writing commercial auto for all the 11 years we've been in business. I would say, again, our goal is to post reserves that were -- you can never say 100% sure, but very confident that those reserves are going to develop favorably over time. These are incremental expansions to our product line. ET.

The typical commercial insurance buyer goes to a retail agent, and they want to go to a preferred admitted company and the admitted company wants a preferred risk.

This statistical study presents the top 100 medical professional liability writers as ranked by 2016 direct premiums written. Yes. I think Irma and Harvey, a couple of years ago in Florida and Texas, those storms hit in the same quarter. Some of those accounts will go to other admitted carriers, but many will end up in the circles lines market, which creates more opportunity for us. As it sounds, an admitted insurance company is “admitted” to do business as an insurance company in the state. Drilling down on one of the previous questions from the other analysts. We target small-to-medium sized accounts and have the flexibility to offer terms for businesses with poor loss histories, high risk venues, and new or high hazard operations. In this hardening market, we are seeing competitors become more restrictive with coverage. I mean, I imagine there's -- obviously, you're growing quickly, you're getting some scale, maybe that's a big piece of it, but also with everything going on, pandemic and otherwise, I'd imagine there's some travel and those sorts of savings as well. The Policy's exclusion for assault and battery is most relevant here. I would say it's about half and half between those two buckets. Okay. Admitted Insurance Companies.

I mean, obviously, it's still mostly casualty, but just within any of the classes, anything that would contribute to any different way of thinking about accessing your reserves? And specifically, kind of if you can comment a little bit how you're seeing rate versus trend? Sometimes carriers just cut capacity. So that implied increase in margin doesn't immediately show up. I think our approach works really well, and it's probably less volatile. Last night, Kinsale reported operating earnings of $0.42 per diluted share for the third quarter of 2020, down 26.3% compared to the third quarter 2019. As for rates, we are still pushing them up in response to market conditions. Our position on the COVID-19 virus hasn't changed from earlier in the year because of the mix of business and the coverage limitations in our book, we don't expect the virus to materially impact Kinsale's profitability or growth. And I think the -- thing you're seeing, Casey, going on across the industry, carriers are reunderwriting books of business. this structure. Net operating earnings, which excludes the volatility from equity investment gains and losses, were $9.6 million, down from $12.6 million in the third quarter of last year and lower primarily due to the cat losses. This behavior is causing Kinsale's new business submissions and premium to grow at strong double-digit rates, and we continue to expect this extraordinary growth to continue through 2021. And then I wanted to touch on the cats real quick. They are required to submit all applications, policy forms, endorsements, and rates to the Office of Insurance Regulation (OIR) for review and approval.

Sure. Now it's pronounced across the whole portfolio, which kind of speaks to the fact that, hey, this is a pretty favorable market. As a reminder, we have a very heterogeneous book of business, which complicates reducing all the rate movement to one single number. And then final question. As mentioned earlier, premium grew 48% in the quarter. Co., 611 F.3d 339, 347 (7th Cir. This Best’s Rankings presents the top property and casualty writers as ranked by 6-month 2018 net premiums written as of June 30, 2018. Although the margins on property cat can be compelling, we are also mindful of the volatility associated with that business, and we limit that volatility in a conservative fashion, but obviously can't eliminate it completely.

Kinsale Insurance Company. Mark, we're quite conservative on the investment side. Important to note and to give some perspective on the performance of the company's underlying business and adjusting for the impact of the cat activity, including the losses themselves, reinstatement premiums paid to reinsurers and adjustments related to variable compensation, the company's quarterly combined ratio would have been approximately 84%. The discussion that you gave about the admitted carrier that is shutting down a particular part of their business and creating opportunity. So we don't really have a considerable exposure out there. We're reserving as there is no slowdown because I don't think it's -- it's too early to tell whether these claims that haven't come in are going to come -- there's going to be a quick catch up period in the future, or is this a permanent advantage for the company and that, hey, a certain number of accidents just didn't take place.So we're reserving -- we're taking the more conservative path in terms of reserving and kind of wait and see what the future holds in terms of frequency.



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