Kingstone Q1 net premiums earned rise 28%, reaffirms 2026 guidance

Kingstone Companies

07/05/2026 21:33

Overview

US property and casualty insurer's Q1 net premiums earned rose 28% yr/yr

Posts Q1 diluted loss per share of -$0.40, reflecting heavy winter catastrophe losses

GAAP combined ratio rose to 112% due to eleven winter catastrophe events in Northeast US

Outlook

Kingstone reaffirms 2026 direct premiums written growth guidance of 16% to 20%

Company expects 2026 net combined ratio of 81% to 86%

Kingstone sees 2026 diluted net income per share of $2.20 to $2.90

Result Drivers

WINTER CATASTROPHE LOSSES - Eleven winter catastrophe events in the Northeast US drove a higher combined ratio and net loss, per CEO Meryl Golden

IMPROVED UNDERLYING PERFORMANCE - Excluding catastrophes, underlying combined ratio improved due to low non-catastrophe loss frequency, higher average premium, and continued underwriting and expense discipline, per CEO Meryl Golden

STRONG PREMIUM GROWTH - Direct premiums written rose 20%, driven by momentum in New York homeowners business, higher average premiums, and solid retention, per CEO Meryl Golden

Company press release: ID:nGNX1hT30Q

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
-$0.40
Q1 Combined Ratio
112.00%
Q1 Gain on Investments
-$1.02 mln
Q1 Underwriting Expense Ratio
30.40%


Analyst Coverage

The one available analyst rating on the shares is "buy"

The average consensus recommendation for the property & casualty insurance peer group is "buy"

Wall Street's median 12-month price target for Kingstone Companies Inc is $21.50, about 30.7% above its May 6 closing price of $16.45

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)