Kingstone Reports Record Profitability and Growth

Kingstone Companies, Inc. (NASDAQ:KINS), a regional property and casualty insurance holding firm, announced notable preliminary financial results for the third quarter and nine months ended September 30, 2024. The company plans its Q3 financial results conference call for November 13, 2024.

In Q3 2024, Kingstone experienced a 28% rise in direct written premiums and a 39% growth in core direct written premiums compared to Q3 2023. The consolidated GAAP combined ratio improved significantly to 72%, reflecting a 38 percentage point enhancement. The net loss ratio improved to 39%, despite $582,000 in catastrophe losses.

Across the first nine months of 2024, direct written premiums grew by 15%, with core premiums increasing by 25%. An overall improved GAAP combined ratio of 81% was reported, indicating a 30-point improvement compared to the previous year.