Quarterly ResultMay 7, 2026, 04:18 PM
Kingstone Q1 Net Premiums Earned +28%; Diluted Net Loss $0.40
AI Summary
Kingstone Companies, Inc. announced Q1 2026 financial results, reporting a 28.4% increase in Net Premiums Earned to $55.87 million and a 19.6% rise in Direct Premiums Written. Despite strong growth, the company posted a diluted net loss per share of $0.40 and a GAAP Net Combined Ratio of 112.0%, primarily due to eleven severe winter catastrophe events in the Northeast U.S. However, the underlying combined ratio improved by 5.1 points to 88.3%, and management reaffirmed its full-year 2026 guidance, citing underlying business strength and strategic expansion plans into California and Connecticut.
Key Highlights
- Kingstone Q1 2026 Net Premiums Earned grew 28.4% to $55.87 million.
- Direct Premiums Written increased 19.6% to $69.60 million.
- GAAP Net Combined Ratio was 112.0%, up from 93.7% in Q1 2025.
- Underlying Combined Ratio improved 5.1 points to 88.3%.
- Diluted Net Loss Per Share was $0.40, compared to $0.27 diluted net income per share in Q1 2025.
- Operating Net Loss Per Share was $0.35, compared to $0.17 operating net income per share in Q1 2025.
- Company reaffirms 2026 full-year guidance for Direct Premiums Written growth of 16% to 20%.
- Reaffirms 2026 full-year guidance for Net Combined Ratio of 81% to 86% and Net Income Per Share of $2.20 to $2.90.