Kinsale profit climbs 19% but still misses expectations

US specialty insurer Kinsale Capital reported first-quarter net
income climbed about 19 percent to $6.3mn as investment gains
surged and underwriting profit rose.
But the $0.29 per share result fell just shy of the
$0.21consensus estimate of 5 analysts surveyed by MarketWatch.
The Richmond, Virginia-based group reported gross written
premiums jumped almost 23 percent to $52.9mn while underwriting
results rose almost 13 percent to $7mn.
But underwriting profitability slipped as the combined ratio