Kinsale Capital Group (KNSL) IPO Opens Up 13%

Today's IPO for Kinsale Capital Group (NASDAQ: KNSL) opened for trading at $18 after pricing 6,600,000 shares of common stock at a price of $16.00 per share.

Kinsale is offering 5,000,000 shares of common stock and the selling stockholders named in the prospectus are offering 1,600,000 shares of common stock. The underwriters have a 30-day option to purchase up to an additional 990,000 shares of common stock from the selling stockholders. Kinsale will not receive any proceeds from the sale of shares by the selling stockholders.

J.P. Morgan Securities LLC and William Blair & Company, L.L.C. are acting as joint book-running managers for the offering. RBC Capital Markets, LLC is also acting as a joint book-running manager for the offering. SunTrust Robinson Humphrey, Inc., Dowling & Partners Securities LLC and Moelis & Company LLC are acting as co-managers.

Kinsale Capital Group, Inc. is the holding company for Kinsale Insurance Company and is headquartered in Richmond, VA. Kinsale Insurance is a domestic excess and surplus lines insurance company specializing in hard-to-place property, casualty and specialty risks.

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