Kingstone Reports Preliminary Record Fourth Quarter and Full Year 2025 Results

Core Insights - Kingstone Companies, Inc. reported the strongest quarterly and annual results in its history for Q4 and FY 2025, with significant growth in direct premiums written and improved profitability metrics [1][4]. Financial Performance - Fourth Quarter Results: - Direct Premiums Written: $83 million, up 14% from $73 million in Q4 2024 [2]. - GAAP Net Combined Ratio: 64%-66%, a decrease of 15-13 percentage points from 79% [2]. - Net Income per Diluted Share: $0.98-$1.03, an increase of 145%-158% from $0.40 [2]. - Operating Net Income per Diluted Share: $1.03-$1.08, up 124%-135% from $0.46 [2]. - Return on Equity (ROE): 49%-51%, an increase of 15-17 percentage points from 34% [2]. - Full Year Results: - Direct Premiums Written: $278 million, up 15% from $242 million in FY 2024 [2]. - GAAP Net Combined Ratio: 75%-77%, a decrease of 5-3 percentage points from 80% [2]. - Net Income per Diluted Share: $2.80-$2.88, an increase of 89%-95% from $1.48 [2]. - Operating Net Income per Diluted Share: $2.71-$2.79, up 87%-92% from $1.45 [2]. - Return on Equity (ROE): 41%-43%, an increase of 5-7 percentage points from 36% [2]. Management Commentary - The President and CEO highlighted that the company achieved its most profitable quarter and year, exceeding the 2025 guidance [4]. - The growth in direct written premiums and exceptional underwriting profit reflects the strength of the company's operational platform [4][5]. Strategic Positioning - Kingstone has maintained its service in Downstate New York, even as competitors have exited the market, benefiting from low catastrophe losses and improved claims operations [5]. - The company aims for continued profitable growth in New York and plans to expand into new markets, targeting $500 million in premium by 2029 [6].