Baron Generational Growth Fund noted in its Q2 2026 investor letter that the "softening" property and casualty insurance market, leading to flat or declining premium prices, has impacted the valuation of Kinsale Capital Group (KNSL). Despite this, the fund remains confident in KNSL's prospects, believing it will continue to achieve growth in underwriting premiums and book value per share through high return on equity, market share expansion, and underwriting discipline. As of September 8, KNSL's stock price was $367.29.