Kingstone Companies (KINS) announced that its catastrophe reinsurance program for the period July 1, 2025 through June 30, 2026 has been finalized. Meryl Golden, CEO, stated, “I am pleased to announce the successful completion of our 2025/2026 catastrophe reinsurance placement with favorable economic terms. In response to the significant growth in premium and exposure experienced in the past year, we increased our catastrophe reinsurance limit by 57%, or $160 million, to $440 million. The limit includes multi-year protection of $125 million sourced through the issuance of our first catastrophe bond, 1886 Re Ltd., as announced in May. We achieved this enhanced protection with only a 10% increase to our overall cost. The catastrophe program cost is approximately 12% of projected direct premiums earned, down from 13% for the previous treaty period. Additionally, the total cost for catastrophe coverage was below our expectations and savings will positively impact our projected diluted EPS by $0.11 for the initial six months of the treaty. Comparable savings benefits will be seen for the remainder of the treaty as well.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.