Overview

* Kingstone Q3 net income rises 55.8% yr/yr to $10.9 mln

* Direct premiums written increase 13.8% yr/yr, driven by higher premiums and retention

* Company raises profitability outlook for fiscal 2025

Outlook

* Kingstone raises 2025 net income per share guidance to $2.30-$2.70 basic, $2.20-$2.60 diluted

* Company expects 2026 direct premiums written growth of 15% to 20%

* Kingstone projects 2026 net income per share of $2.15-$2.85 basic, $2.10-$2.80 diluted

Result Drivers

* PREMIUM GROWTH - Direct premiums written grew 14% due to higher average premiums and strong retention

* LOWER CATASTROPHE LOSSES - Net combined ratio benefited from lower frequency and lower-than-expected catastrophe losses

* CEDING COMMISSIONS - Increased ceding commissions contributed to a lower expense ratio

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS $0.74

Q3 72.70%

Combined

Ratio

Q3 28.40%

Underwri

ting

Expense

Ratio

Analyst Coverage

* The one available analyst rating on the shares is "strong buy"

* The average consensus recommendation for the property & casualty insurance peer group is "buy."

* Wall Street's median 12-month price target for Kingstone Companies Inc ( KINS ) is $22.00, about 31.8% above its November 5 closing price of $15.00

* The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 7 three months ago

Press Release:

For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)