Earnings ·
Reports Q3 diluted EPS of $1.19; raises full-year guidance to $2.70-$2.90
KINSKingstone Companies, Inc.
Kingstone Companies reported third-quarter net income of $17.6 million, or $1.19 per diluted share, up 61% from the prior year period. Net premiums earned grew 30% to $62.4 million as reduced quota share cessions increased retained premium. The GAAP net combined ratio improved 7.1 points to 65.6%, driven by a 6.1-point favorable prior-year reserve development offsetting 7.5 points of catastrophe losses. Management updated the full-year direct premiums written growth outlook to approximately 16% and raised diluted EPS guidance to $2.70–$2.90 from the previous range of $2.20–$2.90. The company operates as a regional property and casualty insurance holding company specializing in homeowners insurance.