Business UpdateJul 1, 2026, 08:31 AM
Kingstone Secures Reinsurance, Increases Limit to $500M
AI Summary
Kingstone Companies, Inc. announced the successful finalization of its catastrophe reinsurance program for July 1, 2026, through June 30, 2027. The company increased its loss limit to $500 million, a 14% rise from the previous year, while reducing the cost of core catastrophe excess of loss coverage by over 15% on a risk-adjusted basis. Kingstone also maintained low first-event retentions and noted that the program cost is now approximately 11% of projected direct premiums earned, down from 13%.
Key Highlights
- Increased catastrophe loss limit to $500 million, a 14% increase from 2025-2026.
- Reduced cost of core catastrophe excess of loss coverage by over 15% on a risk-adjusted basis.
- Maintained low first-event retentions: $3.5 million for wildfire, $5 million for named storm, $6 million for winter storm.
- Catastrophe program cost is approximately 11% of projected direct premiums earned, down from 13%.
- Program includes $125 million multi-year protection from a catastrophe bond issued last year.
- Over 34 reinsurers are participating in the program, including six new reinsurers.
Price Impact
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