Davis Polk advised the sole book-running manager and representative of the underwriters in connection with the $70 million follow-on offering of 741,750 shares of common stock of Kinsale Capital Group, Inc., which included 96,750 shares from the full exercise of the underwriters’ option to purchase additional shares from the company. The common stock is listed on the Nasdaq Global Select Market under the symbol “KNSL.”
Founded in 2009, Kinsale focuses exclusively on the excess and surplus lines market in the United States, where it can use its underwriting expertise to write coverages for hard-to-place small business risks and personal lines risks. It markets and sells insurance products in all 50 states, the District of Columbia, the Commonwealth of Puerto Rico and the U.S. Virgin Islands primarily through a network of independent insurance brokers.
The Davis Polk corporate team included partner Richard D. Truesdell Jr., counsel Jeffrey S. Ramsay and associates Andrew J. Terjesen, Crystal Chi and Ariella R. Pultman. The intellectual property and technology team included partner Pritesh P. Shah and associate Tilak Koilvaram. The tax team included partner David H. Schnabel and associate Dao Fu. All members of the Davis Polk deal team are based in the New York office.