BMO Capital raised the firm’s price target on Kinsale Capital to $450 from $415 and keeps an Outperform rating on the shares. The recent data points to E&S growth potentially accelerating given social inflationary pressures coupled with persistent catastrophe losses, which means that Kinsale’s long-term trendline growth of over 30% will persist, the analyst tells investors in a research note. Kinsale offers “structural expense advantage and continued robust inflows” into the E&S marketplace, BMO added.
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