Kinsale Capital : March 2024 Kinsale IR Presentation

March 2024

Disclaimer

This presentation contains or incorporates by reference forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include any statement that does not directly relate to historical or current facts. These statements may discuss, among other things, Kinsale's future financial performance, business prospects and strategy, anticipated financial position, liquidity and capital, dividends and general market and industry conditions. You can identify forward-looking statements by words such as "anticipates," "estimates," "expects," "intends," "plans," "predicts," "projects," "believes," "seeks," "outlook," "future," "will," "would," "should," "could," "may," "can have" and similar terms. Forward-looking statements are based on management's current expectations and assumptions about future events, which are subject to uncertainties, risks and changes in circumstances that are difficult to predict. These statements are only predictions and are not guarantees of future performance. Forward-looking statements speak only as of the date on which they are made. Except as expressly required under federal securities laws or the rules and regulations of the SEC, Kinsale does not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. You should not place undue reliance on forward-looking statements. All forward-looking statements attributable to Kinsale are expressly qualified by these cautionary statements.

To supplement Kinsale's consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States (GAAP) and to better reflect period-over- period comparisons, Kinsale uses non-GAAP financial measures of performance and financial position that either exclude or include amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. Non-GAAP financial measures do not replace and are not superior to the presentation of GAAP financial results but are provided to improve overall understanding of Kinsale's current financial performance and its prospects for the future. Kinsale believes the non-GAAP financial results provide useful information to both management and investors regarding certain additional financial and business trends relating to financial condition and operating results. In addition, management uses these measures, along with GAAP information, for reviewing financial results and evaluating its historical operating performance. The non-GAAP adjustments for all periods presented are based upon information and assumptions available as of the date of this presentation. The non-GAAP information is not prepared in accordance with GAAP and may not be comparable to non- GAAP information used by other companies. For further discussion of the limitations of these non-GAAP financial measures and the reconciliations to the most directly comparable GAAP financial measures, see the Appendix to this presentation.

2

INTRODUCTION TO KINSALE

3

Overview

Kinsale Capital Group, Inc., founded in 2009, is a specialty insurance company focused exclusively on the excess and surplus lines market in the United States.

Disciplined	Maintain	Leverage our	Employ a	Well-positioned
underwriting	absolute control	proprietary	quantitative	to generate
focused on	over	technology to	approach-	strong returns
small-account	underwriting	operate with a	using analytics	and robust
E&S market	and claims	substantial cost	to drive	growth as we
	management	advantage over	profitability and	expand our 2%
	processes	competitors	operational	market share
			efficiency

Our goal is to provide long-term value to our stockholders by generating exceptional profit and growth.

4

Highly-Experienced Management Team

	Name	Experience	Prior experience
	Michael Kehoe	30+ years	President and Chief Executive Officer at James River Insurance from 2002 to 2008
	Founder, Chairman and
	Chief Executive Officer
	Brian Haney	30+ years	Chief Actuary of James River Insurance from 2002 to 2009
	President and
	Chief Operating Officer
	Bryan Petrucelli	30+ years	Senior Manager in Ernst & Young's audit practice for over 13 years
	Executive Vice President,
	Chief Financial Officer
	Diane Schnupp	30+ years	Principal Consultant Impact Makers, Inc. from 2016 to 2019; Chief Information
	Executive Vice President,		Officer Capital Center, LLC from 2012 to 2016
	Chief Information Officer
	Mark Beachy	30+ years	Group General Counsel at The Travelers Indemnity Company from 2018 to 2020;
	Executive Vice President,		Managing Counsel at Travelers from 2006 to 2018

Chief Claims Officer

5

Kinsale's Stock Performance vs. the S&P 500

	Annual Percentage Change (1)
Year	Kinsale (2)	S&P 500
2016	113.5	4.2
2017	33.2	21.8
2018	24.1	(4.4)
2019	83.7	31.5
2020	97.3	18.4
2021	19.2	28.7
2022	10.2	(18.1)
2023	28.3	26.3
Compounded Annual Gain ─ 2016-2023	51.2%	13.2%
Overall Gain ─ 2016-2023	2,052.6%	151.4%

1. Data for 2016 begins with Kinsale's initial public offering date of July 28, 2016 and assumes reinvestment of dividends.
2. Returns are calculated from the initial public offering price of $16.00 per share.

6

Select Market Information

As of December 31, 2023
Ticker	KNSL
Exchange	New York Stock Exchange
Stock Price	$334.91
Market Capitalization	$7.8 billion
Book Value	$46.88 per share
Debt to Total Capitalization Ratio	14.6%
Full-time Employees	561

7

Our Approach

• Exclusive focus on the small-account E&S market
• Disciplined underwriting expertise across a broad spectrum of hard-to-place risks; no delegated underwriting authority
• Technology is a core competency, driving best-in-class expense ratio
• Use analytics to drive profitability and operational efficiency
• Entrepreneurial business culture with a close alignment of owners and employees
• Best combination of high growth and low combined ratio among peers¹
• Well-positionedfor continued profitable growth

¹ Public companies comprising the peer group are set forth on Page 15

8

Kinsale is the only publicly-traded,pure-play E&S investment opportunity

Leading public E&S players

2022 Surplus lines DWP as % of

total direct and assumed written premiums¹

Our differentiating factors

No delegated underwriting

JRVR

53%

39%

33%

29%

27%

19%

12%

9%

100%

66%

Low-cost business model

Contrarian underwriting

Quantitative decision making

Rewarding the doers

One location, in person

Source: S&P Capital IQ

¹ Statutory surplus lines direct and assumed premiums written as defined by S&P Capital IQ

9

E&S Market

The E&S market has seen significant growth and generated better underwriting results than the broader P&C industry

U.S. surplus lines direct written premiums ($bn)

																				$82.7	$98.5
																		$56.3	$66.1
														$41.3	$42.4	$44.9	$49.9
					$38.7	$36.6	$34.4				$34.8	$37.7	$40.2
	$25.6	$32.8	$33.0	$33.3	$33.0	$31.7	$31.1
$15.8
2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022

Net loss and LAE ratio - U.S. domestic professional surplus lines vs. P&C industry

88.4%										P&C Industry				Surplus lines	1				Surplus lines average: 69.3%
81.5%																P&C industry average: 73.6%
										79.4%	80.4%											76.4%
81.2%		75.0%	73.5%	75.3%			77.1%	72.7%	73.6%					76.2%	76.3%	73.3%			72.5%
		67.8%						69.0%	70.2%	71.0%	70.1%
				65.4%				75.9%				67.4%		76.0%
									74.3%
	72.3%	72.1%	71.3%				71.0%			72.2%	71.4%
	69.6%								69.3%			70.0%
			68.3%									68.5%	67.7%
						65.4%							62.5%						64.1%
					57.8%	52.4%								57.7%
2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012		2013	2014	2015	2016	2017	2018	2019	2020	2021	2022

Source: A.M. Best

¹ Represents domestic professional surplus lines (DPSL) as defined by A.M. Best

10