Why Kinsale Capital Stock Is Plunging Today
Kinsale Capital Group (NYSE: KNSL) has been a spectacular investment over the years, with the stock up more than 1,800% since its 2016 initial public offering. But Kinsale's latest quarter, though solid, included at least some hint that growth could be slowing.
Investors are taking gains after the results, sending shares of Kinsale down 17% in Friday trading.
Kinsale is an insurance company focused on the obscure. The company writes policies for businesses that most insurers shy away from, things like ax-throwing venues and cannabis dispensaries. That kind of insurance, known as excess and surplus, or E, can be more complex to write but tends to be more lucrative than industry norms for those who do it well.
Source Fool.com
