Kingstone Companies raises FY25 EPS view to $1.75-$2.15 from $1.45-$1.85

One estimate $1.80. Affirms FY25 premium written growth at 15%-25%. Meryl Golden, CEO, stated, “We ended the year with outstanding profitability and unprecedented growth in both the fourth quarter and full year 2024. Core business direct premiums written grew by 49% in the final three months due to market dislocation, leading to record annual growth of 31% for the full year. We remain committed to profitable growth by adhering to disciplined underwriting while delivering exceptional service to our producers and policyholders. From a profitability standpoint, we achieved our fifth consecutive quarter of profitability during the fourth quarter of 2024, with a combined ratio of 78.5%, an 11-percentage point improvement from the same period last year. While we experienced a moderate increase in large losses, as expected during the holiday season, our improvement was driven by lower frequency overall, no catastrophe losses, and a lower expense ratio. For the full year, our combined ratio improved remarkably by 25.3-percentage points to 80.0%. The loss ratio improvement was driven by lower frequency and severity, along with minimal impact from severe weather and catastrophe events. Even with bonuses to employees and profit sharing to producers due to our record profitability, we were able to lower our expense ratio by another 1.6 points to 31.3%.”