Kingstone - KINS STOCK NEWS

Kingstone Companies (NASDAQ:KINS) has announced that its subsidiary, Kingstone Insurance Company, will offer replacement policies to selected Homeowners policyholders in Downstate New York as AmGUARD Insurance Company exits the admitted personal lines business. The transaction involves approximately $70 million in written premium and is pending approval from the New York Department of Financial Services.

The policy transitions are scheduled to begin in the third quarter of 2025. Kingstone will streamline the process by providing quotes for eligible policyholders directly to producers. The company, which was the 12th largest writer of homeowners insurance in New York in 2024, aims to ensure a smooth transition for brokers and policyholders.

Kingstone Companies (NASDAQ:KINS), a Northeast regional property and casualty insurance holding company, has announced a strategic partnership with Kyber Technologies to implement AI-enabled claims correspondence automation. The collaboration aims to enhance the efficiency of Kingstone's claims processing system.

Through Kyber's AI technology, Kingstone's Claims Specialists will be able to instantly draft, review, and send claims communications, streamlining administrative tasks and improving customer service delivery. The partnership focuses on managing complex state-specific templates and ensuring compliance across all lines of business.

Kingstone Companies (NASDAQ:KINS) announced the resignation of CFO Jennifer Gravelle, effective April 18, 2025. Victor Brodsky, current Chief Accounting Officer and former CFO (2009-2020), will temporarily assume CFO duties alongside CEO Meryl Golden while an executive search is conducted.

The company reaffirmed its 2025 financial guidance, projecting:

• Net premiums earned of approximately $184 million
• Core Business direct premiums written growth of 15% to 25%
• Combined ratio of 81% to 85%
• Basic net income per share of $1.90 to $2.30
• Return on equity of 27% to 35%

The company expects weighted average shares outstanding for 2025 to be 13.3 million basic and 14.2 million diluted, with total shares outstanding reaching 13.6 million basic and 14.7 million diluted by year-end.

Kingstone Companies (NASDAQ:KINS), a Northeast regional property and casualty insurance holding company, has announced a strategic partnership with Snapsheet to enhance its claims processing capabilities. The collaboration aims to modernize Kingstone's claims operations through Snapsheet's software implementation.

The partnership will introduce new digital communication capabilities, expanded payment options, and intelligent automation to streamline the claims resolution process. According to Dave Fernandez, Chief Claims Officer of Kingstone, this initiative will enable their team to deliver faster, more accurate, and compassionate claims service to policyholders.

Snapsheet's President Andy Cohen highlighted that their platform will enhance Kingstone's claims efficiency through automation and intelligent workflows while providing a seamless digital experience for customers.

Kingstone Companies (NASDAQ:KINS) reported exceptional results for Q4 and full year 2024, marking significant growth and profitability improvements. The company achieved a 31% growth in core direct premiums written for the full year, with Q4 showing a remarkable 49% increase due to market dislocation.

Key highlights include:

• Full-year combined ratio improved by 25.3 percentage points to 80.0%
• Q4 combined ratio of 78.5%, an 11-percentage point improvement year-over-year
• Fifth consecutive quarter of profitability in Q4 2024
• Expense ratio reduced by 1.6 points to 31.3%

The company's performance benefited from lower frequency and severity of claims, minimal impact from severe weather and catastrophe events, and improved operational efficiency. Despite holiday season-related increases in large losses, the overall results remained strong. For 2025, Kingstone anticipates net premiums earned of approximately $184 million.

Kingstone Companies (NASDAQ:KINS) has announced preliminary financial results for Q4 and full year 2024, showing significant improvements across key metrics. In Q4 2024, the company achieved 37% direct written premium growth, with core business growth of 49%. The consolidated GAAP combined ratio improved by 11 percentage points to 79%, while operating income per share more than tripled to $0.49 basic and $0.46 diluted.

For full year 2024, Kingstone reported 21% direct written premium growth, with core business growth of 31%. The consolidated GAAP combined ratio improved by 25 percentage points to 80%. Operating income per basic share significantly improved to $1.57 from a loss of $(0.73) in 2023. The net catastrophe loss ratio improved by 5 percentage points to 2%. The company will discontinue releasing preliminary quarterly results starting Q1 2025 unless material events occur.

Kingstone Companies (NASDAQ:KINS) has announced an agreement to sell its headquarters building and adjacent mixed-use property to Ulster County, NY. The transaction is expected to generate a pre-tax gain of $1.9 million ($1.5 million after-tax) in Q1 2025, subject to closing.

The sale aligns with Kingstone's transition to a remote workforce model and will reduce annual operating costs by $300,000. The company plans to maintain its presence in Kingston, NY by leasing a smaller space more suitable for its current needs.

Kingstone Companies (NASDAQ:KINS) reported its best year in company history in 2024, achieving record premium and profitability with four consecutive profitable quarters. The company experienced 31% growth in New York State direct written premiums, including 44% growth in the second half, acquiring over 6,000 policies and $23 million in premium from customers of two departing competitors.

Key developments include reducing non-core business outside New York by 58% to $10 million in direct written premium, with policies-in-force declining 65% to under 4,000. The company's subsidiary KICO reduced its personal lines quota share treaty to 16% from 27% effective January 2025, which is expected to increase 2025 EPS by $0.26 basic and $0.25 diluted. Additionally, Kingstone made $4 million in debt prepayments, reducing outstanding debt to $6 million, resulting in $0.55 million annual interest savings.

Kingstone Insurance, the 15th largest homeowners insurance writer in New York, has partnered with Earnix to enhance its pricing capabilities and support strategic growth. The collaboration will enable Kingstone to utilize Earnix's cloud-based intelligent solutions featuring data-science, analytical modeling, and AI capabilities for more accurate pricing strategies.

The partnership provides Kingstone with a unified platform offering built-in governance, version control, and explainability, facilitating quick product roll-out and improved market responsiveness. Kingstone operates primarily in the Northeast region through retail and wholesale agents, actively writing personal lines and commercial auto insurance across multiple states.