Kingstone Schedules 2021 Fourth Quarter and Full Year Financial Results Conference Call

Rhea-AI Summary

Kingstone Companies (NASDAQ:KINS) announced a financial results conference call scheduled for March 11, 2022, to discuss its Q4 and Full Year 2021 results. The earnings announcement will be released after market close on March 10. Additionally, Kingstone Insurance Company finalized a new 30% personal lines quota share treaty effective until December 31, 2022, reducing its catastrophe retention from $10.0 million to $7.4 million. This move is expected to increase statutory surplus, benefiting written premium growth as the company enters 2022.

Positive

• New 30% personal lines quota share treaty enhances statutory surplus.
• Reduction in catastrophe retention from $10.0 million to $7.4 million boosts financial stability.
• Expected growth in written premiums as a result of the new treaties.

Negative

• None.

Kingstone Enters into New Reinsurance Treaties

KINGSTON, NY / ACCESSWIRE / January 12, 2022 / Kingstone Companies, Inc. (NASDAQ:KINS) (the "Company" or "Kingstone"), a Northeast regional property and casualty insurance holding company, announced today that it will hold its 2021 Fourth Quarter and Full Year 2021 financial results conference call for analysts and investors on Friday, March 11, 2022 at 8:30 a.m. Eastern Time. The earnings announcement is scheduled for release shortly after the stock markets close on Thursday, March 10th.

The Company also announced that Kingstone Insurance Company ("KICO"), its wholly owned subsidiary, finalized a new 30% personal lines quota share treaty for the period December 31, 2021 through December 31, 2022. Further, an additional layer was added to the existing Single Risk Excess of Loss treaty. "The new treaties, when taken together, result in reductions to our catastrophe and single-risk retentions through June 30, 2022 to $7.4 million and $0.5 million from $10.0 million and $1.0 million, respectively. The quota share benefits us further by increasing our statutory surplus leading to a reduction in premium leverage going into 2022 and allowing for continued written premium growth," said Meryl Golden, President of KICO.

The details of the conference call and webcast are as follows:

Date: Friday, March 11, 2022
Time: 8:30 a.m. Eastern Time

Access by conference call:
Domestic callers: 877-407-3105
International callers: 201-493-6794

Access by webcast:
The call will be simultaneously webcast over the internet and can be accessed via the following link fifteen minutes prior to the call:

Kingstone Fourth Quarter and Full Year 2021 Financial Results and Conference Call Webcast

The webcast will be archived and accessible for approximately 30 days.

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/682980/Kingstone-Schedules-2021-Fourth-Quarter-and-Full-Year-Financial-Results-Conference-Call

FAQ

When will Kingstone Companies announce its Q4 2021 financial results?

Kingstone Companies will announce its Q4 2021 financial results on March 10, 2022, after market close.

What is the significance of Kingstone's new quota share treaty?

The new 30% quota share treaty reduces catastrophe retention, enhancing financial stability and potentially increasing written premium growth.

What are the details of Kingstone's conference call?

The conference call is scheduled for March 11, 2022, at 8:30 a.m. Eastern Time, accessible via a domestic call at 877-407-3105 or international call at 201-493-6794.