Kingstone Companies Reports Robust 2024 Financial Results

Kingstone Companies, Inc. announced record financial results for the fourth quarter and full year 2024. The company saw a 31.4% increase in direct premiums written for its core business, with a combined ratio improving significantly to 80.0%. Net income for the year was $18.4 million, reversing a loss from 2023. The company attributes growth to disciplined underwriting and reduced loss frequency and severity.

Meryl Golden, CEO, noted the company's fifth consecutive profitable quarter, highlighting a combined ratio of 78.5%. Despite increased large losses during the holiday season, improvements were attained through lower overall frequency and no catastrophe losses.

Guidance for 2025 forecasts a net income per share increase and expected continued growth in direct premiums by 15%-25%.