on Kingstone Companies, Inc (NASDAQ:KINS)
Kingstone Reports Record Operating Profit and Growth for 2024
Kingstone Companies, Inc., a regional property and casualty insurance holding company based in Kingston, NY, announced record preliminary financial results for the fourth quarter and full year 2024. The company plans a conference call on March 14, 2025, to discuss these results in detail.
In the fourth quarter of 2024, Kingstone achieved a 37% increase in direct written premiums and a significant improvement in the consolidated GAAP combined ratio to 79%. The company's net expense ratio improved by 3 percentage points. Operating income per basic share more than tripled.
For the full year 2024, Kingstone recorded a 21% growth in direct written premiums, while the consolidated GAAP combined ratio improved by 25 percentage points. Operating income per basic share rose dramatically from a loss to $1.57. The company will cease releasing preliminary quarterly results starting in 2025 unless significant events occur.
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