Welcome to our dedicated page for Kingstone news (Ticker: KINS), a resource for investors and traders seeking the latest updates and insights on Kingstone stock.
Kingstone Companies, Inc. (NASDAQ: KINS) is a Northeast regional property and casualty insurance holding company whose principal operating subsidiary is Kingstone Insurance Company ("KICO"), a New York-domiciled carrier. News about Kingstone frequently centers on its homeowners insurance focus in New York and other licensed Northeast states, as well as its financial performance and capital management decisions.
Visitors to this news page can review press releases covering quarterly and year-to-date results, including disclosures on direct premiums written, net premiums earned, net combined ratio, underwriting performance and net income. Kingstone also reports on non-GAAP measures such as adjusted EBITDA and operating net income, providing definitions and reconciliations in its releases.
The company regularly announces financial guidance for upcoming fiscal years, outlining expectations for direct premiums written growth, net combined ratio, net income per share and return on equity, together with forward-looking statements and risk factor references. Other recurring topics include dividend declarations, such as the reinstatement and continuation of quarterly cash dividends on common stock, and reinsurance program updates, including catastrophe reinsurance arrangements for specified treaty periods.
Corporate governance and capital markets developments also feature in Kingstone’s news flow. Items may include index inclusions such as membership in the Russell 3000 and Russell 2000 indices, scheduling of annual meetings of stockholders, results of shareholder votes, and changes in board or executive leadership. Earnings conference call announcements and related investor presentations are typically referenced, with details on how investors can access webcasts and materials.
For investors and observers following KINS, this page provides a centralized view of the company’s official communications on operating trends, strategic priorities, risk considerations and shareholder-related actions as disclosed in its press releases.
Kingstone Companies (Nasdaq: KINS) announced a partnership with Flyreel, Inc., leveraging AI technology for property inspections. This collaboration allows homeowners to conduct self-inspections using their smartphones, significantly improving customer satisfaction—with over 94% expressing positive feedback. The use of AI has streamlined the inspection process for underwriters, enhancing data quality and revealing potential hazards. This innovative approach aims to elevate customer experience while optimizing underwriting efficiency, marking a progressive step in the insurance industry.
Kingstone Companies (KINS) announced the termination of its personal lines quota share treaty effective December 31, 2020, signaling a shift in strategy. CEO Barry Goldstein stated the company has improved profitability since Q3 2019, removing the need for surplus support from reinsurers. COO Meryl Golden highlighted that KICO will retain approximately $16.7 million in ceded premiums, contributing to an expected earned premium of $135-145 million for 2021. The company anticipates organic growth of 5-7% in 2021.
Kingstone Companies (KINS) announced its Q3 2020 financial results, reporting a net loss of $1.2 million, down from $1.7 million a year prior. Direct written premiums decreased by 0.6%, totaling $45.7 million, while personal lines grew 6.4% to $43.6 million. The net combined ratio hit 111.9%, primarily due to catastrophic losses from Tropical Storm Isaias, which added 31.5 points to the net loss ratio. Despite challenges, the underlying net loss ratio improved to 42.0%. The board declared a quarterly dividend of $0.04 per share, payable December 15, 2020.
Kingstone Companies (NASDAQ:KINS) has appointed Sarah Chen as its new Chief Actuary, effective November 2, 2020. With over a decade of experience in the insurance sector, Sarah will oversee key functions including reserving, pricing, and reinsurance management. She comes from Homesite, managing a substantial homeowners and renters portfolio. Sarah succeeds Ben Walden, who is transitioning out of the company. Leadership believes Sarah's expertise will significantly enhance financial performance and contribute to the ongoing 'Kingstone 2.0' vision.
Kingstone Companies, Inc. (Nasdaq: KINS) has reported an estimated pre-tax loss of $8.5-9.0 million due to Hurricane Isaias and three additional smaller events in Q3 2020. These losses are net of reinsurance and based on initial assessments as of October 7, 2020. Management indicates that these figures are subject to change as further reviews of the quarter's operations continue. Kingstone operates primarily in the Northeast U.S., offering personal lines insurance through its subsidiary, Kingstone Insurance Company.
Kingstone Companies, Inc. (Nasdaq: KINS) announced it will release its Q3 2020 financial results on November 6, 2020, after market close. A conference call for analysts and investors is scheduled for November 9, 2020, at 8:30 a.m. ET. The call will be accessible via phone and a webcast, which will be archived for 30 days. Kingstone is a property and casualty insurance holding company primarily serving the Northeast region through its subsidiary, Kingstone Insurance Company.