Turtle Creek Endorses Kinsale in Q3 Investor Letter, Citing Tech Edge and Discipline

The firm points to tech-driven underwriting that delivers a durable cost advantage.

Overview

Kinsale was added to Turtle Creek’s portfolio last year, and the firm expects to stay invested for the long term subject to valuation.
Kinsale operates in the U.S. excess and surplus insurance market with roughly a 2% share, compared with Lloyd’s of London at over 17%, and it is described as growing quickly.
Turtle Creek highlights founder-led leadership and an underwriting approach it says confers significant advantages.
Kinsale shares closed at $396.94 on November 12, giving a $9.234 billion market cap, after a one-month decline of 9.48% and a 52-week drop of 16.22%.
Insider Monkey reports hedge-fund holders fell to 31 portfolios at the end of Q2 from 33 the prior quarter, and Kinsale does not appear on its 30 most popular stocks list.