Kinsale Capital rises after BofA starts coverage with 'buy' rating

Shares of specialty insurance company Kinsale Capital Group KNSL.N rise 3.3% to $476.13

BofA Global Research initiates KNSL coverage with a "buy" rating and PT of $543

BofA thinks recent acceleration in flows into the excess and surplus lines (E&S) market is more structural than in past years; believes KNSL is among the best positioned to take advantage

Despite near-term headwinds to growth, BofA remains constructive on long-term growth trends of KNSL

Among KNSL's advantages vs competition is a proprietary technology platform that quickens risk assessment and allows brokers to quickly bind policies — BofA

Up to Wednesday's close, KNSL had fallen 1%