Kingstone Announces Estimated Prior Quarter Catastrophe Losses Kingstone Declares Quarterly Dividend of $0.04 per share

Rhea-AI Summary

Kingstone Companies (Nasdaq: KINS) announced estimated net pre-tax catastrophe losses for Q2 2021 of less than $100,000 from a single event. These estimates are based on initial reviews and may change. Additionally, the Board declared a common stock dividend of $0.04 per share, payable on September 15, 2021, to shareholders of record as of August 31, 2021. Kingstone primarily operates in personal lines insurance across several Northeastern states, providing stability and a return to its shareholders amid recent events.

Positive

• Dividend of $0.04 per share announced, enhancing shareholder returns.

Negative

• Estimated catastrophe losses could increase based on ongoing reviews.

KINGSTON, NY / ACCESSWIRE / August 2, 2021 / Kingstone Companies, Inc. (Nasdaq:KINS) (the "Company" or "Kingstone"), a Northeast regional property and casualty insurance holding company, today announced that Kingstone Insurance Company ("KICO"), its wholly-owned subsidiary, estimates net pre-tax catastrophe losses for the second quarter of 2021 of less than $100,000 from one event.

The estimated, unaudited net pre-tax catastrophe losses indicated above are based on information available as of August 2, 2021 and management's initial review of operations for the second quarter. They remain subject to change based on management's ongoing review of the Company's second quarter results and are forward-looking statements (see "Forward-Looking Statements" below). Kingstone assumes no obligation to update these statements. The actual losses may be materially different and are affected by the risk factors and uncertainties identified in this press release and in Kingstone's annual and quarterly fillings with the Securities and Exchange Commission.

Kingstone also announced today that its Board of Directors has declared a common stock dividend of $0.04 per share. The dividend is payable on September 15, 2021 to holders of record as of August 31, 2021.

Financial information, including material announcements about Kingstone Companies, is routinely posted on www.kingstonecompanies.com.

About Kingstone Companies, Inc.

Kingstone is a northeast regional property and casualty insurance holding company whose principal operating subsidiary is Kingstone Insurance Company ("KICO"). KICO is a New York domiciled carrier writing business through retail and wholesale agents and brokers. KICO offers primarily personal lines insurance products in New York, New Jersey, Rhode Island, Massachusetts, and Connecticut. Kingstone is also licensed in Pennsylvania, New Hampshire and Maine.

Forward-Looking Statements

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. These statements involve risks and uncertainties that could cause actual results to differ materially from those included in forward-looking statements due to a variety of factors. For more details on factors that could affect expectations, see Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2020 under "Factors That May Affect Future Results and Financial Condition" and Part II, Item 1A of our Quarterly Report on Form 10-Q for the period ended March 31, 2021 filed with the Securities and Exchange Commission. Kingstone undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

CONTACT:
Kingstone Companies, Inc.
Amanda M. Goldstein
Investor Relations Director
(516) 960-1319

SOURCE: Kingstone Companies, Inc

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https://www.accesswire.com/657641/Kingstone-Announces-Estimated-Prior-Quarter-Catastrophe-Losses-Kingstone-Declares-Quarterly-Dividend-of-004-per-share

FAQ

What is the estimated catastrophe loss for Kingstone in Q2 2021?

Kingstone estimates net pre-tax catastrophe losses of less than $100,000 from one event.

When is the dividend payment for Kingstone?

The dividend of $0.04 per share is payable on September 15, 2021.

What is the record date for Kingstone's dividend?

The record date for Kingstone's dividend is August 31, 2021.

What does Kingstone do?

Kingstone is a property and casualty insurance holding company focused on personal lines insurance in several Northeastern states.