Kinsale Capital Group (Kinsale) has formed Kinsale Insurance Company (KIC), which will underwrite commercial property/casualty and professional liability lines within excess and surplus lines segment in 31 states/district of Columbia and is applying for eligibility in the remaining states.
The company said that it has invested $66m in its KIC subsidiary, which based in Richmond, VA. Investment strength behind Kinsale includes Moelis Capital Partners, and Virginia Capital Partners.
Michael Kehoe, president and CEO of Kinsale, said: “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!”
Reportedly, Moelis Capital Partners, based in New York, is a private equity firm that specializes in investments in the middle market. Virginia Capital Partners, based in Richmond, has investments in more than 30 enterprises with experience investing in excess and surplus lines insurance companies.