Kingstone Stock Price, News & Analysis

Kingstone Insurance Company (NASDAQ:KINS) has expanded its operations by launching personal property insurance policies in New York, utilizing WaterStreet's cloud-based policy administration platform. This strategic move follows successful implementations in Connecticut, Massachusetts, New Jersey, and Rhode Island. The initiative is part of Kingstone's Kingstone 2.0 modernization project aimed at consolidating multiple systems into a single management platform, enhancing customer experience and operational efficiency. WaterStreet's proven capabilities make it a fitting partner for Kingstone's growth.

Kingstone Companies (NASDAQ: KINS) announced an estimated net pre-tax catastrophe loss of $0.23 million for Q1 2021, translating to $0.18 million after tax, primarily due to three events. The company's Board of Directors declared a quarterly dividend of $0.04 per share, payable on June 15, 2021, to shareholders of record by May 28, 2021. Kingstone operates primarily in the Northeast, focusing on property and casualty insurance, with significant presence in New York, New Jersey, Rhode Island, Massachusetts, and Connecticut.

Kingstone Companies (NASDAQ: KINS) announced its 2021 Q1 financial results conference call set for May 14, 2021 at 8:30 a.m. ET. The earnings report will be released after market close on May 13, 2021. Domestic callers can access the call at 877-407-3105, while international callers should dial 201-493-6794. The conference will also be available via a live webcast, accessible here. Kingstone specializes in property and casualty insurance focused on personal lines in the Northeast.

Kingstone Insurance Company (KICO) has implemented the insured.io platform to enhance digital transformation and customer engagement. KICO, primarily offering personal lines property and casualty coverage in the Northeast, aims to modernize its operations amid increasing demands for technology. The new customer engagement platform streamlines payment capabilities, with nearly 50% of payments now processed via the system. This initiative not only improves customer interactions but also integrates various legacy systems, providing a unified experience for producers and policyholders.

Kingstone Companies (KINS) reported its Q4 2020 financial results, highlighting a net income of $3.04 million, up from $1.46 million year-over-year. The company's book value per share increased to $8.74, a 7% rise from 2019. Fourth-quarter net operating income per diluted share was $0.16, up from $0.14. Despite a 17.3% drop in net premiums earned to $26.98 million, the net written premiums surged by 152.1% due to the ending of a quota share treaty. A $10 million share repurchase program was approved, indicating confidence in the company’s valuation.

Kingstone Companies (NASDAQ:KINS) announced its financial results conference call for the 2020 Fourth Quarter on March 19, 2021, at 8:30 a.m. ET. The earnings announcement will be released after market close on March 18, 2021. The conference can be accessed by phone or webcast, allowing analysts and investors to engage directly with the management team. Kingstone is a regional property and casualty insurance company, primarily offering personal lines insurance in several Northeastern states.

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.