Moelis Capital Partners and Virginia Capital Partners have backed Kinsale Capital Group and its launch of Kinsale Insurance Company Inc., a Richmond, Va.-based specialty insurance operation.
Kinsale Capital Group, Ltd. (“Kinsale”) today announced the formation of Kinsale Insurance Company, Inc. (“KIC”), a specialty insurance operation based in Richmond, VA. KIC carries a rating of A- (Excellent) VII from A.M. Best Company. KIC underwrites commercial property/casualty and professional liability lines within the excess and surplus lines segment in 31 states/District of Columbia and is applying for eligibility in the remaining states. Kinsale and its affiliates currently have 43 employees in Richmond, VA.
Kinsale recently raised $80 million of capital and has invested $66 million of this capital in its subsidiary KIC. Investment strength behind Kinsale includes Moelis Capital Partners, LLC and Virginia Capital Partners, LLC. Moelis Capital Partners, based in New York, NY, is a private equity firm that specializes in investments in the middle market and has significant insurance and financial services industry expertise. Virginia Capital Partners, based in Richmond, VA, has investments in more than 30 enterprises with significant experience investing in excess and surplus lines insurance companies.
Michael P. Kehoe, President and CEO of Kinsale, stated, “The quality investors and employees at Kinsale give us tremendous confidence in our ability to execute our business plan, serve our customers and build our business. We are establishing a great platform, built around people, technology and an entrepreneurial business culture, on which we will develop a great company. This is an exciting time for Kinsale!”
About Kinsale Capital Group, Ltd.
Kinsale Capital Group, Ltd. is the Bermudan holding company for Kinsale Insurance Company and other affiliated companies. Kinsale’s principal business is insurance underwriting and it has offices in Hamilton, Bermuda and Richmond, VA. For further information please contact Bob Neal at 804-289-1318 or email@example.com.