Kingstone Companies(NASDAQ) KINS

Kingstone helps New York residents protect their homes and belongings through various insurance policies. It also provides coverage for specialized needs like taxi damage and liability for dog owners. The company sells these products through a network of local agents and brokers.

What’s Under the Policy?

• Personal Property Insurance: Homeowners, dwelling fire, and renters policies for individuals; includes coverage for cooperative and condominium units.
• Liability Protection: Personal umbrella policies and canine legal liability insurance, which protects dog owners against lawsuits.
• Vehicle Damage: Physical damage policies specifically for for-hire vehicles like livery cars and taxicabs.
• Reinsurance Services: Products that help other insurance companies manage their own risks by sharing potential costs.

Mapping Out the Future

• Established Kingstone America Insurance Company as a Connecticut carrier, with plans to start writing business in the second half of 2026.
• Issued a $125 million catastrophe bond through 1886 Re Ltd. in July 2025 to protect against major named storms.
• Entered a new quota share treaty in January 2026, which is an agreement to share 5% of premiums and losses with other insurers.
• Partnered with Janney Montgomery Scott LLC in May 2024 to create a program for selling common stock directly into the market.

A New York Insurance Power

Kingstone is a significant regional player, ranking as the 11th largest writer of homeowners insurance in New York during 2025. The company manages its exposure to large disasters by using complex reinsurance agreements to share potential claim costs with other firms.

The Quarterly Scorecard

• Total revenues reached $59.8 million in Q1 2026, an 18.4% increase from $50.5 million in the prior year.
• The company reported a net loss of $5.8 million for Q1 2026, down from a net income of $3.9 million in Q1 2025 (turned negative — worsened).
• Loss and loss adjustment expenses, which represent the cost of paying claims, rose to $45.6 million in Q1 2026 from $27.2 million.
• Net cash provided by operating activities was $8.7 million for the quarter ended March 31, 2026, down from $17.9 million in 2025.
• Net premiums earned grew to $55.9 million in Q1 2026, up from $43.5 million for the same period in 2025.

Bottom Line

Kingstone is transitioning from a New York-focused insurer toward a broader regional strategy while managing higher claim expenses. Its heavy reliance on reinsurance structures provides a financial buffer against volatile weather events and large-scale property losses.