Kinsale Capital is a unique, best-in-class insurer because it has developed specialized underwriting expertise for hard-to-place risks, allowing for exceptional compounding.

“Kinsale Capital, this is a specialty insurer that focuses exclusively on the excess and surplus insurance market here in the United States. They sell insurance in all 50 states, primarily through a network of independent insurance brokers.”

Kinsale Capital is a superior business because it effectively combines a low-cost, technology-driven expense structure with a focus on niche, underserved insurance markets.

“So in order to make money in insurance, you either need to go very niche or have a cost advantage over your competitors. And to me, it seems that Kinsale actually does both.”