Published: March 09, 2010
Kinsale Capital Group, Ltd. Launches New U.S. Excess and Surplus Lines Insurance Company
HAMILTON, Bermuda & RICHMOND, Va. - (BUSINESS WIRE) - Kinsale Capital Group, Ltd. ("Kinsale" ) today announced the formation of
Kinsale Insurance Company, Inc. ("KIC" ), a specialty insurance operation
based in Richmond, VA. KIC carries a rating of A- (Excellent) VII from
A.M. Best Company. KIC underwrites commercial property/casualty and
professional liability lines within the excess and surplus lines segment
in 31 states/District of Columbia and is applying for eligibility in the
remaining states. Kinsale and its affiliates currently have 43 employees
in Richmond, VA.
Kinsale recently raised $80 million of capital and has invested $66
million of this capital in its subsidiary KIC. Investment strength
behind Kinsale includes Moelis Capital Partners, LLC and Virginia
Capital Partners, LLC. Moelis Capital Partners, based in New York, NY,
is a private equity firm that specializes in investments in the middle
market and has significant insurance and financial services industry
expertise. Virginia Capital Partners, based in Richmond, VA, has
investments in more than 30 enterprises with significant experience
investing in excess and surplus lines insurance companies.
Michael P. Kehoe, President and CEO of Kinsale, stated, "The quality
investors and employees at Kinsale give us tremendous confidence in our
ability to execute our business plan, serve our customers and build our
business. We are establishing a great platform, built around people,
technology and an entrepreneurial business culture, on which we will
develop a great company. This is an exciting time for Kinsale!"
About Kinsale Capital Group, Ltd.
Kinsale Capital Group, Ltd. is the Bermudan holding company for Kinsale
Insurance Company and other affiliated companies. Kinsale's principal
business is insurance underwriting and it has offices in Hamilton,
Bermuda and Richmond, VA. For further information please contact Bob
Neal at 804-289-1318 or bob.neal@kinsaleins.com.
Kinsale Insurance Company
Robert Neal, Senior Vice President
804-289-1318
bob.neal@kinsaleins.com
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