Kingstone Hires New Chief Actuary

Rhea-AI Summary

Kingstone Companies (NASDAQ:KINS) has appointed Sarah Chen as its new Chief Actuary, effective November 2, 2020. With over a decade of experience in the insurance sector, Sarah will oversee key functions including reserving, pricing, and reinsurance management. She comes from Homesite, managing a substantial homeowners and renters portfolio. Sarah succeeds Ben Walden, who is transitioning out of the company. Leadership believes Sarah's expertise will significantly enhance financial performance and contribute to the ongoing 'Kingstone 2.0' vision.

Positive

• Sarah Chen brings over a decade of experience in personal lines pricing and reserving.
• Leadership expresses confidence in Sarah's ability to enhance financial performance.

Negative

• Ben Walden's departure raises concerns about continuity in leadership.

KINGSTON, NY / ACCESSWIRE / November 2, 2020 / Kingstone Companies, Inc. (NASDAQ:KINS) (the "Company" or "Kingstone"), a Northeast regional property and casualty insurance holding company, announced that Sarah Chen has joined the company effective today as Chief Actuary. In this role, Sarah is a key member of the Company's senior leadership team, responsible for leading the reserving, pricing, financial planning, reporting and analysis, and reinsurance management functions of the company.

Sarah is a Fellow of the Casualty Actuarial Society, with more than a decade of experience in personal lines pricing, reserving and other actuarial responsibilities. Sarah is joining Kingstone from Homesite, a subsidiary of American Family, where she was Senior Pricing Manager responsible for ratemaking for their almost $2 billion homeowners, renters and condo book. Prior to Homesite, she was an Actuarial Manager at Plymouth Rock, a northeast regional insurer focused on auto and home. Sarah also worked at XL Insurance, the Hartford and Travelers in various actuarial roles. Sarah has a B.S., Mathematics form Tsinghua University in Beijing and a M.S., Applied Mathematics from Brown University.

Sarah assumes responsibility from Ben Walden, whose departure was announced earlier this year, enabling him to pursue other opportunities while consulting with Kingstone to allow for a smooth transition. "We thank Ben for his many contributions during his seven years at the company", said Barry Goldstein, Kingstone Chairman and CEO. "Ben leaves the company well positioned for the future."

"I am excited about the expertise that Sarah brings to Kingstone", said Meryl Golden, Chief Operating Officer. "I am confident that Sarah will make significant contributions to achieving our Kingstone 2.0 vision which is well underway. Sarah will help the Company reach an even greater level of financial performance."

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.

INVESTOR RELATIONS CONTACT:
Amanda M. Goldstein
Investor Relations Director
(516) 960-1319

SOURCE: Kingstone Companies, Inc

View source version on accesswire.com:
https://www.accesswire.com/613734/Kingstone-Hires-New-Chief-Actuary

FAQ

Who is the new Chief Actuary of Kingstone Companies?

Sarah Chen has been appointed as the new Chief Actuary of Kingstone Companies.

When did Sarah Chen join Kingstone Companies?

Sarah Chen joined Kingstone Companies on November 2, 2020.

What experience does Sarah Chen have in the insurance industry?

Sarah Chen has over a decade of experience in personal lines pricing and reserving, previously working at Homesite and Plymouth Rock.

Who did Sarah Chen replace as Chief Actuary at Kingstone?

Sarah Chen replaced Ben Walden as Chief Actuary.

What is the significance of Sarah Chen's appointment for Kingstone Companies?

Her experience is expected to enhance financial performance and support the company's 'Kingstone 2.0' vision.