Welcome to our dedicated page for Kingstone Companies news (Ticker: KINS), a resource for investors and traders seeking the latest updates and insights on Kingstone Companies stock.
Kingstone Companies, Inc. reports developments in property and casualty insurance, with recurring updates on premium growth, underwriting results, catastrophe losses, reinsurance, investment income and operating guidance. The company’s news frequently centers on its New York homeowners business, the Select product, claims performance, expense management and the effect of severe weather on combined ratios.
Other recurring items include quarterly dividends, earnings calls, shareholder communications, governance and executive compensation matters, and strategic updates tied to geographic diversification and underwriting analytics.
Kingstone Companies (KINS) reported a net loss per share of $(0.51) for Q2 2022, a significant decline from earnings of $0.12 per share a year prior. Direct written premiums grew by 11.6% to $49.8 million. However, net premiums earned decreased by 21.3% to $27.9 million, influenced by a 30% quota share treaty. The combined ratio rose to 103.3%, driven by a loss ratio of 66.9%. The Board declared a quarterly dividend of $0.04 per share, payable on September 15, 2022. Management expressed optimism about ongoing initiatives and potential future improvements.
Kingstone Companies (Nasdaq: KINS) will announce its Q2 2022 financial results on August 11, 2022, after market close. A conference call for analysts and investors is scheduled for August 12, 2022, at 8:30 a.m. ET. Domestic callers can dial 877-407-3105, while international callers can reach 201-493-6794. The call will also be available via a webcast. Kingstone operates mainly in personal lines insurance across several northeastern states, including New York and New Jersey.
Kingstone Companies (NASDAQ: KINS) reported a first-quarter 2022 operating loss per share of $(0.54), up from $(0.25) in Q1 2021. The net loss per share surged to $(0.87), compared to $(0.03) a year earlier, owing to significant catastrophe losses and unrealized investment declines. Direct written premiums grew by 12.7% to $43.0 million, but net premiums earned fell by 22.9% to $26.7 million due to a new quota share treaty. The net combined ratio worsened to 124.5%, revealing increased losses related to severe weather events.
Kingstone Companies (Nasdaq: KINS) announced its Board of Directors received a preliminary non-binding acquisition proposal from Griffin Highline Capital LLC. The Board will evaluate the proposal to determine the best course of action for the company and its shareholders. Kingstone operates primarily in the Northeast, providing property and casualty insurance through its subsidiary, Kingstone Insurance Company, focusing on personal lines in several states. The company cautioned that forward-looking statements involve risks, including potential losses from severe weather and regulatory challenges.
Kingstone Companies (NASDAQ: KINS) announced an estimated net pre-tax catastrophe loss of $2.59 million for Q1 2022, translating to $2.05 million after-tax, attributed to four separate events. The losses are based on preliminary data and remain subject to change, reflecting potential risks as noted in SEC filings. Additionally, the company declared a common stock dividend of $0.04 per share, payable on June 15, 2022, to shareholders of record as of May 31, 2022.
Kingstone Companies (NASDAQ:KINS) announced its 2022 First Quarter financial results conference call on May 13, 2022, at 8:30 a.m. ET. The earnings report will be disclosed after market close on May 12. Interested participants can access the call via a dedicated conference line or through a live webcast available here. Kingstone operates primarily in the Northeast, offering personal lines insurance across several states. This event is crucial for analysts and investors to gauge the company's performance.
Kingstone Companies announced its financial results for the fourth quarter and full year ended December 31, 2021. Q4 earnings per share were $0.21, down from $0.28. An operating loss per share of ($0.11) was reported. The full year saw a loss per share of ($0.70) compared to $0.09 earnings the prior year. Direct written premiums grew 13.2% in Q4 and 7.3% for the year. However, the net combined ratio increased to 111.5%. Management highlighted a strengthened reinsurance program to mitigate future large losses and record premium writings of $50 million in Q4.
Kingstone Companies (NASDAQ:KINS) has launched its new "Select" Homeowners and Dwelling Fire Products in New York, marking a key step in its "Kingstone 2.0" three-year plan. This modern suite aims to better align rates with risks, enhancing profitability through refined segmentation and analytics. The products are set to roll out in additional states, pending approval. Meryl Golden, President of Kingstone Insurance Company, expressed confidence in the initiative's potential to boost profitability, thanks to partnerships with various stakeholders.
Kingstone Companies (NASDAQ: KINS) reported estimated net pre-tax catastrophe losses of $1.75 million for Q4 2021, amounting to $1.40 million after tax, primarily from two events. Additionally, the Board of Directors declared a quarterly dividend of $0.04 per share, payable on March 15, 2022, to shareholders of record as of February 28, 2022. For more financial information, visit Kingstone's website.
Kingstone Companies (NASDAQ:KINS) announced a financial results conference call scheduled for March 11, 2022, to discuss its Q4 and Full Year 2021 results. The earnings announcement will be released after market close on March 10. Additionally, Kingstone Insurance Company finalized a new 30% personal lines quota share treaty effective until December 31, 2022, reducing its catastrophe retention from $10.0 million to $7.4 million. This move is expected to increase statutory surplus, benefiting written premium growth as the company enters 2022.