Kinsale Capital Group, Inc. (KNSL) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues	819.2	639.8	459.9	315.9	222.1	186.8	141.6	80.6
Revenue growth	28.0%	39.1%	45.6%	42.2%	18.9%	31.9%	75.7%	26.6%
Loss and loss adjustment expenses	457.9	324.4	263.8	169.6	128.0	103.7	71.0	42.2
Policy acquisition costs	101.0	78.6	57.9	39.4	29.4	24.1	10.0	7.4
Other underwriting costs	67.0	51.8	40.5	34.2	27.0	22.9	22.4	19.6
Investment expenses	2.8	2.1	1.8	1.4	1.1	1.0	0.9	0.8
Other operating expenses	-9.3	-6.9	-5.2	-4.8	-3.9	-3.5	-3.1	-24.1
Equity in earnings							0.5	0.1
EBITDA	198.2	188.1	99.9	74.8	39.1	38.0	41.3	35.9
EBITDA margin	24.2%	29.4%	21.7%	23.7%	17.6%	20.3%	29.2%	44.5%
Depreciation	2.7	2.3	1.6	0.7	0.6	0.5	0.6	0.6
EBIT	195.4	185.8	98.3	74.1	38.5	37.5	40.7	35.2
EBIT margin	23.9%	29.0%	21.4%	23.5%	17.3%	20.1%	28.7%	43.7%
Interest income, net [+]	4.3	4.0	1.9	1.9	2.0	1.0	-1.3	-1.1
Interest expense	4.3	1.0	0.6	0.1			1.0	1.1
Interest income	8.6	5.0	2.5	2.0	2.0	1.0	-0.3
Other income (expense), net							-0.1	-0.6
Pre-tax income	195.6	188.8	100.4	76.1	40.5	38.5	39.5	33.6
Income taxes	36.5	36.1	12.0	12.7	6.7	13.6	13.4	11.3
Tax rate	18.6%	19.1%	11.9%	16.7%	16.5%	35.4%	33.8%	33.6%
Net income	159.1	152.7	88.4	63.3	33.8	24.9	26.2	22.3
Net margin	19.4%	23.9%	19.2%	20.0%	15.2%	13.3%	18.5%	27.6%

Basic EPS	$6.97	$6.73	$3.96	$2.94	$1.60	$1.19	$0.72	$1.46
Diluted EPS	$6.88	$6.62	$3.87	$2.86	$1.56	$1.16	$0.72	$1.46

Shares outstanding (basic)	22.8	22.7	22.3	21.5	21.1	21.0	36.3	15.2
Shares outstanding (diluted)	23.1	23.1	22.9	22.1	21.7	21.5	36.6	15.2

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.