Specialty insurer Kinsale Capital Group, Inc. (KNSL, Financial) contributed after reporting quarterly results that beat consensus. Gross written premiums grew 45% and EPS grew 47%. Market conditions remain favorable with rate increases above loss cost trends, leading to faster premium growth, better margins, and favorable reserve development. We continue to own the stock because we believe Kinsale is well managed and has a long runway for growth in an attractive segment of the insurance market.
From Ron Baron (Trades, Portfolio)'s Baron Growth Fund second-quarter 2022 letter.
