Kingstone Companies(NASDAQ) KINS

Kingstone Companies, Inc. helps New York residents protect their homes and apartments from unexpected damage. The company sells insurance policies that cover losses for individuals and for-hire vehicle owners. It works through a network of local agents to provide essential financial safety for policyholders.

Protecting Homes and Hired Rides

• Personal Lines: Insurance for homeowners, renters, and condominiums; accounts for 93.8% of net premiums earned for the six months ended June 30, 2026.
• Livery Physical Damage: Policies covering damage to for-hire vehicles like taxis and car services; represents 6.1% of net premiums earned for the six-month period ended June 30, 2026.
• Other Policies: Specialized products including canine legal liability; accounts for $29,593 in net premiums earned for the six months ended June 30, 2026.

Where the Company Is Heading

• Launched homeowners coverage in California on a non-admitted basis in June 2026.
• Secured a Connecticut insurance license in May 2026 with plans to start writing policies by year end.
• Introduced a five-year plan in 2025 aiming for $500 million in direct written premium by 2029.
• Entered an agreement in April 2025 to offer replacement quotes to customers of a departing competitor.

Specializing in Coastal Risks

The firm focuses its underwriting expertise on properties exposed to catastrophes in the New York market. It uses reinsurance—which involves sharing risk with other insurance companies—to manage its total exposure to large loss events.

Performance by the Numbers

• Direct premiums written rose 19.2% year over year to $142.1 million for the six months ended June 30, 2026.
• Net income was $9.7 million in the first half of 2026, a 36.2% decrease year over year.
• The net loss ratio was 59.7% for the six-month period ended June 30, 2026, up 9.4 percentage points.
• Net investment income reached $6.8 million during the six months ended June 30, 2026, up 55.6% year over year.
• Cash and invested assets totaled $351.0 million as of June 30, 2026, compared to $273.6 million one year prior.

Bottom Line

Kingstone has transformed into a specialized provider focused on residential property and livery insurance. The firm is now executing a geographic expansion strategy to move beyond its core New York market.