Clay is joined by Daniel Mahncke to break down Kinsale Capital. Kinsale is a specialty insurer that has quietly become one of the most exceptional businesses in the financial sector by dominating the Excess & Surplus insurance market and insuring the risks no one else will touch. What you'll learn here: 00:00:00 - Intro 00:03:02 - Insurance market overview 00:11:25 - Buffett’s take on insurance 00:20:06 - The advantage of in-house underwriting 00:30:57 - Setting reserves 00:33:31 - Kinsale’s expense structure 00:38:07 - Runway for growth 00:41:46 - Commissions to brokers 00:44:45 - Hard and soft market environment 00:50:20 - Management incentives 01:02:43 - Kinsale’s Valuation 01:07:20 - Risks 01:12:34 - Final comments Transcript & Guest Info: https://www.theinvestorspodcast.com/episodes/kinsale-capital-stock-deep-dive-w-clay-finck-daniel-mahncke/ 🤝 Network with like-minded value investors and get new stock ideas by joining the TIP Mastermind Community. https://www.theinvestorspodcast.com/mastermind/ 💎 Explore a new business weekly and decide if it deserves a spot in your portfolio. https://www.theinvestorspodcast.com/intrinsic-value-podcast/ ▶️ Related Episodes: - Top Stocks for 2026 w/ Shawn O'Malley, Daniel Mahncke, & Clay Finck: https://youtu.be/5GRcFTDsdKc - Berkshire Hathaway, Moody's, & BellRing Brands | Stock Analysis & Valuation: https://youtu.be/aSD_spMNpQs Listen to our episodes here: https://open.spotify.com/show/28RHOkXkuHuotUrkCdvlOP Visit our website: https://www.theinvestorspodcast.com/we-study-billionaires/ Free PDF: Investing for Beginners: 4 Principles of Stock-Picking: https://www.theinvestorspodcast.com/subscribe-youtube/ ⚠️ Disclaimer: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting. #KinsaleCapital #InsuranceInvesting #ValueInvesting #StockMarketAnalysis #FinancialStocks