KINGSTONE COMPANIES (KINS) Company Report

Kingstone reported a 55.8% increase in Net Income to $10,872 thousand and Direct Premiums Written growth of 13.8% to $75,810 thousand for Q3 2025, with a Net Combined Ratio of 72.7%.
The company provided updated 2025 guidance including Direct Premiums Written growth of 12% to 17% and Net Income Per Share (Diluted) of $2.20 to $2.60.
For 2026, Kingstone projects Direct Premiums Written growth of 15% to 20% and Net Income Per Share (Diluted) of $2.10 to $2.80.
The "Select" product now represents 54% of policies in force as of September 30, 2025, contributing to a healthier portfolio, and the company secured a renewal rights transaction with AmGuard for an estimated $12 million in premiums starting September 1, 2025.
Kingstone aims for $500 million in Direct Premiums Written by 2029 through strategic state expansion in 2026 and 2027.

Nov 7, 2025, 1:30 PM

Presentation

Kingstone Companies Reports Strong Q3 2025 Results and Raises Full-Year Guidance

KINS

Earnings

Guidance Update

CFO Change

Kingstone Companies reported a strong Q3 2025 with net income of $10.9 million, diluted earnings per share of $0.74, a GAAP combined ratio of 72.7%, and an annualized return on equity of 43%, marking its eighth consecutive profitable quarter. Direct written premium grew 14% and net investment income increased 52%.
The company is raising its 2025 guidance, now expecting a GAAP net combined ratio between 78-82%, diluted EPS between $2.20-$2.60, and return on equity between 35-39%. Direct written premium growth is reaffirmed at 12% to 17%.
The Select homeowners program now accounts for 54% of policies in force, and new business from the renewal rights agreement with Guard is progressing as expected, contributing to growth. The company is also progressing with its state expansion initiative.
Randy Patton joined Kingstone Companies as Chief Financial Officer in late August 2025.

Nov 7, 2025, 1:30 PM

Transcript

Kingstone Companies Reports Strong Q3 2025 Results and Raises Full-Year Guidance

KINS

Earnings

Guidance Update

Dividends

Kingstone Companies reported net income of $10.9 million and diluted earnings per share of $0.74 for Q3 2025, achieving a GAAP combined ratio of 72.7% and an annualized return on equity of 43%, marking its eighth consecutive profitable quarter.
The company raised its 2025 guidance, now expecting a GAAP net combined ratio between 78-82%, diluted EPS between $2.20-$2.60, and return on equity between 35-39%.
Direct written premium grew 14% and net investment income increased 52% to $2.5 million in Q3 2025, while net earned premium growth exceeded 40% for the third consecutive quarter, primarily due to a reduced quota share.
Kingstone's capital position remains strong with shareholders' equity exceeding $107 million, an 80% increase year over year, and the company has maintained its quarterly dividend.

Nov 7, 2025, 1:30 PM

Transcript

Kingstone Companies Reports Strong Q3 2025 Results and Raises Full-Year Guidance

KINS

Earnings

Guidance Update

New Projects/Investments

Kingstone Companies reported Q3 2025 net income of $10.9 million, diluted earnings per share of $0.74, a GAAP combined ratio of 72.7%, and an annualized return on equity of 43%.
The company raised its 2025 guidance, anticipating a GAAP net combined ratio between 78%-82%, diluted earnings per share between $2.20-$2.60, and return on equity between 35%-39%.
Performance was driven by strong net earned premium growth from a reduced quota share, a 52% increase in net investment income, and lower expenses due to a sliding scale ceding commission adjustment.
Direct written premium grew 14%, and policies in force increased 4.2% year-over-year, with the Select homeowners program now comprising 54% of policies in force.
Strategic initiatives include progressing a state expansion initiative and writing policies under a renewal rights agreement with Guard, which is on track to add $25 million to $35 million of business over three years.

Nov 7, 2025, 1:30 PM

Transcript

Kingstone Companies Reports Strong Q3 2025 Results and Raises Full-Year 2025 Profitability Outlook

KINS

Earnings

Guidance Update

Revenue Acceleration/Inflection

Kingstone Companies, Inc. reported strong financial results for the third quarter ended September 30, 2025, with net income increasing 55.8% to $10.9 million and diluted earnings per share of $0.74.
Direct premiums written grew by 13.8% to $75.8 million in Q3 2025, contributing to a 43.5% increase in net premiums earned to $47.9 million.
The company achieved a GAAP net combined ratio of 72.7% and an annualized return on equity of 42.9% for Q3 2025.
Kingstone affirmed its growth guidance and raised its profitability outlook for fiscal year 2025, with revised diluted net income per share guidance of $2.20 to $2.60 and return on equity guidance of 35% to 39%.
The company's diluted book value per share increased to $7.28 as of September 30, 2025, up from $4.32 in the prior year period.

Nov 6, 2025, 9:50 PM

8-K

Kingstone Companies Reports Strong Q3 2025 Results and Raises 2025 Profitability Outlook

KINS

Earnings

Guidance Update

Revenue Acceleration/Inflection

Kingstone Companies reported strong third quarter 2025 financial results, with net income increasing 55.8% to $10.9 million and diluted earnings per share reaching $0.74.
Direct premiums written grew 13.8% to $75,810 thousand for the quarter, contributing to a net combined ratio of 72.7% and an annualized return on equity of 42.9%.
The company raised its profitability outlook for fiscal year 2025, with updated guidance for diluted net income per share ranging from $2.20 to $2.60 and return on equity from 35% to 39%.
Guidance for fiscal year 2026 was affirmed, projecting direct premiums written growth of 15% to 20% and diluted net income per share between $2.10 and $2.80.

Nov 6, 2025, 9:45 PM

Press Release

Kingstone Provides 2025 and 2026 Guidance and Reports Q3 2025 Performance

KINS

Guidance Update

Earnings

New Projects/Investments

Kingstone (KINS) provided 2025 guidance, projecting a Net Combined Ratio of 79% to 83% and diluted Net Income Per Share between $1.95 and $2.35.
For 2026, the company affirmed guidance including a Net Combined Ratio of 79% to 83% and diluted Net Income Per Share ranging from $2.10 to $2.80.
For the nine months ended September 30, 2025, KINS reported Net Income of $26,007 thousand and diluted Net Income per share of $1.82.
The company successfully completed its 2025/2026 Catastrophe Reinsurance Placement and plans state expansion, targeting $500 million in Direct Premiums Written by 2029.
KINS has implemented expense reduction initiatives, resulting in a 10-point decrease in the net expense ratio from 2021 to 2024.