Kingstone Achieves Record Financial Growth in 2024

Kingstone ( (KINS) ) has released its Q4 earnings. Here is a breakdown of the information Kingstone presented to its investors.

Kingstone Companies, Inc., a regional property and casualty insurance holding company, primarily operates in the Northeast United States, focusing on personal lines and commercial auto insurance. The company has reported record financial results for the fourth quarter and full year of 2024, with significant growth in direct premiums written and a notable improvement in its combined ratio. Kingstone’s core business saw a 31% increase in direct premiums written for the year, while the net combined ratio improved from 105.3% in 2023 to 80.0% in 2024, indicating enhanced operational efficiency and profitability. The company achieved a net income of $18.4 million for the year, a substantial turnaround from a loss in the previous year, driven by disciplined underwriting and favorable market conditions. Looking ahead, Kingstone is optimistic about sustaining its growth trajectory and profitability, with a projected increase in net income per share and a stable combined ratio for 2025.