Kingstone Reports Solid First Quarter 2025 Results

Kingstone Companies, Inc., a property and casualty insurance holding firm, reported a notable first quarter performance ending March 31, 2025. The company witnessed its sixth consecutive quarter of profitability, reaffirming its full-year guidance for 2025. Key financial highlights include a 22.7% increase in direct premiums written, reaching $57,175,000, and a 172.1% rise in net income to $3,883,000. Meanwhile, net income per share surged by over 123% to $0.29, reflecting the company's successful strategy.

Meryl Golden, CEO of Kingstone, attributed these gains to a competitive landscape that fueled significant growth in high-quality business in Downstate New York. Despite a slight increase in the net combined ratio to 93.7%, the company benefited from lower catastrophe losses, attributed to a milder winter.

Looking ahead, Kingstone maintains its guidance, anticipating a growth in core business premiums between 15% and 25%, with net income per share expected to range from $1.90 to $2.30. This outlook underscores the firm's confidence in navigating the evolving market.