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.
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Kingstone Companies, Inc. (NASDAQ: KINS) will announce its First Quarter 2023 financial results on May 11, 2023, after market close. A conference call for analysts and investors is scheduled for May 12, 2023, at 8:30 a.m. Eastern Time. Domestic callers can access the call at 877-407-3105 while international callers can dial 201-493-6794. The call will also be available via a webcast, accessible through a provided link. The archived webcast will be available for approximately 30 days. Kingstone operates primarily through its subsidiary, Kingstone Insurance Company, which offers personal lines insurance in several states including New York and New Jersey.
Kingstone Companies (KINS) reported financial results for Q4 and fiscal year 2022, revealing a loss per share of $(0.37) compared to a profit of $0.21 in Q4 2021. The net operating loss per share was $(0.36), driven by $0.13 losses from Winter Storm Elliot. Total direct written premiums increased by 7.7% to $53.9 million, while net premiums earned fell 17.8% to $30.4 million. For the year, the loss per share was $(2.12), and book value dropped 53.2% to $3.38. Despite these challenges, management highlights a strategic plan aimed at improving profitability in 2023.
Kingstone Companies, Inc. (Nasdaq: KINS) has announced significant governance changes to its Board of Directors aimed at enhancing shareholder value. Effective March 8, 2023, Timothy McFadden has been appointed as Lead Independent Director, bringing over 30 years of insurance experience. The Board established a new Corporate Sustainability and Risk Management Committee to address critical issues like cybersecurity and talent development, chaired by McFadden. Additionally, the Compensation and Finance Committees were merged to form a new committee. These changes reflect Kingstone's commitment to strong governance practices to support long-term growth.
Kingstone Companies, Inc. (NASDAQ: KINS) has entered into an Agreement with its largest individual shareholder, Gregory Fortunoff, who will join the Board of Directors as an Observer starting March 6, 2023. Fortunoff, who owns over 9% of the company's shares, will participate in Board meetings without voting rights. This move aims to enhance shareholder value amidst ongoing economic challenges. Tim McFadden, a Board member, expressed optimism about Fortunoff's contribution, emphasizing the Board's commitment to sustainable growth. The full Agreement will be submitted on Form 8-K to the SEC.