{"id":942480,"date":"2026-03-05T16:21:04","date_gmt":"2026-03-05T21:21:04","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/kingstone-reports-record-fourth-quarter-and-full-year-2025-results\/"},"modified":"2026-03-05T16:21:04","modified_gmt":"2026-03-05T21:21:04","slug":"kingstone-reports-record-fourth-quarter-and-full-year-2025-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/kingstone-reports-record-fourth-quarter-and-full-year-2025-results\/","title":{"rendered":"Kingstone Reports Record Fourth Quarter and Full Year 2025 Results"},"content":{"rendered":"
\n

\n
\n Strongest Quarterly and Annual Results in Company History<\/em>
\n <\/strong>\n <\/p>\n

\n
\n Q4 GAAP Net Combined Ratio of 64.2% | Q4 Diluted EPS of $1.03 | Q4 Annualized ROE of 51.3%<\/em>
\n <\/strong>
\n
\n
\n Q4 Diluted Operating EPS1<\/sup> of $1.08 | FY Net Income of $40.8M, up 122% | FY Book Value per Share of $8.28 up 75%<\/em>
\n <\/strong>
\n
\n
\n Net Premiums Earned Growth of 46% for FY 2025 |Direct Premiums Written Growth1<\/sup> of 15% for FY 2025\u00a0 <\/em>
\n <\/strong>
\n
\n
\n Updates 2026 Guidance <\/em>
\n <\/strong>\n <\/p>\n

\n
\n Management to Host Conference Call Tomorrow at 8:30 a.m. Eastern Time<\/em>
\n <\/strong>\n <\/p>\n

KINGSTON, N.Y., March 05, 2026 (GLOBE NEWSWIRE) — Kingstone Companies, Inc. (Nasdaq:\u00a0 KINS)<\/strong> (\u201cKingstone\u201d or the \u201cCompany\u201d), a Northeast regional property and casualty insurance holding company, today announced its financial results for the fourth quarter and year ended December 31, 2025.\u00a0 The Company has also provided an investor presentation that can be accessed through the News & Events\/Presentations section of the Company website at www.kingstonecompanies.com<\/a><\/u>.\u00a0<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n Key Financial and Operational Highlights<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Quarters Ended<\/strong>\n <\/td>\n\n Years Ended<\/strong>\n <\/td>\n<\/tr>\n
\n ($ in thousands, except per share data)<\/em>\n <\/td>\n\n December 31,<\/strong>\n <\/td>\n\n December 31,<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2024<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Change<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2024<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Change<\/strong>\n <\/td>\n<\/tr>\n
Net premiums earned<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0 49,463<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0 35,967<\/td>\n\u00a0<\/td>\n37.5<\/td>\n%<\/td>\n$<\/td>\n\u00a0\u00a0 187,127<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0 128,498<\/td>\n\u00a0<\/td>\n45.6<\/td>\n%<\/td>\n<\/tr>\n
Direct premiums written1<\/sup><\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0 82,753<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0 72,533<\/td>\n\u00a0<\/td>\n14.1<\/td>\n%<\/td>\n$<\/td>\n\u00a0\u00a0 277,801<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0 241,980<\/td>\n\u00a0<\/td>\n14.8<\/td>\n%<\/td>\n<\/tr>\n
Net combined ratio<\/td>\n\u00a0<\/td>\n64.2<\/td>\n%<\/td>\n\u00a0<\/td>\n78.5<\/td>\n%<\/td>\n(14.3)pts<\/td>\n\u00a0<\/td>\n75.0<\/td>\n%<\/td>\n\u00a0<\/td>\n80.0<\/td>\n%<\/td>\n\u00a0\u00a0 (5.0)pts<\/td>\n<\/tr>\n
Underlying combined ratio1<\/sup><\/td>\n\u00a0<\/td>\n62.6<\/td>\n%<\/td>\n\u00a0<\/td>\n78.9<\/td>\n%<\/td>\n(16.3)pts<\/td>\n\u00a0<\/td>\n74.4<\/td>\n%<\/td>\n\u00a0<\/td>\n79.5<\/td>\n%<\/td>\n\u00a0\u00a0 (5.1)pts<\/td>\n<\/tr>\n
Net income<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0 14,760<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 5,439<\/td>\n\u00a0<\/td>\n171.4<\/td>\n%<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0 40,767<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0 18,358<\/td>\n\u00a0<\/td>\n122.1<\/td>\n%<\/td>\n<\/tr>\n
Net income per share – diluted<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.03<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.40<\/td>\n\u00a0<\/td>\n157.5<\/td>\n%<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.88<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.48<\/td>\n\u00a0<\/td>\n94.6<\/td>\n%<\/td>\n<\/tr>\n
Operating net income per share – diluted1<\/sup><\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.08<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.46<\/td>\n\u00a0<\/td>\n134.8<\/td>\n%<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.79<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.45<\/td>\n\u00a0<\/td>\n92.4<\/td>\n%<\/td>\n<\/tr>\n
Return on equity – annualized<\/td>\n\u00a0<\/td>\n51.3<\/td>\n%<\/td>\n\u00a0<\/td>\n34.4<\/td>\n%<\/td>\n\u00a0\u00a0\u00a0\u00a0 16.9 pts<\/td>\n\u00a0<\/td>\n43.0<\/td>\n%<\/td>\n\u00a0<\/td>\n36.3<\/td>\n%<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6.7 pts<\/td>\n<\/tr>\n
\n 1 Refer to section entitled “<\/em>
\n Definitions and Non-GAAP Measures” included in this press release.<\/em>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n Management Commentary<\/strong>\n <\/p>\n

Meryl Golden, President and Chief Executive Officer of Kingstone, stated, “We delivered record results for the fourth quarter and the full year, confirming the preliminary results we reported in February and marking our ninth consecutive quarter of profitability. From year-end 2023 to year-end 2025, we have grown direct premiums written by 39% while improving our combined ratio by 30 points. These results are structural, not simply weather-driven, and they validate the transformation we have executed.<\/p>\n

Our competitive advantages are clear. Select, now 57% of policies in force compared to 45% one year ago, continues to drive lower claim frequency through improved risk selection. Our operating efficiency, with a net expense ratio that has improved from 41% in 2021 to 30% in 2025, provides margin durability. Net earned premium growth of 46% for the full year, combined with net investment income growth of 44%, demonstrates the breadth of our earnings power. And our conservative financial position, with no debt and robust reinsurance, means that a major catastrophe event is an income statement impact, not an existential risk.<\/p>\n

We are now entering our next chapter of profitable growth. We have set a 2029 goal of $500 million in direct premiums written through continued growth in New York along with measured expansion into new markets, starting with California in Q2,\u00a0 supported by an infrastructure that scales with minimal incremental investment. We are updating our 2026 guidance today, which reflects continued direct premiums written growth of 16% to 20% and an underlying combined ratio1<\/sup> of 74% to 76%. We will continue to execute with discipline, advance our measured expansion roadmap and allocate capital prudently to deliver long-term value to our shareholders.”<\/p>\n

\n Fiscal Year 2026 Outlook <\/strong>
\n
\n (see \u201cDisclaimer and Forward-Looking Statements\u201d below)<\/em>\n <\/p>\n

The Company is providing an updated growth and profitability outlook for fiscal year 2026. The guidance ranges below reflect management\u2019s current expectations based on information available as of March 5, 2026 and are subject to the risks and uncertainties described in \u201cDisclaimer and Forward-Looking Statements\u201d below.<\/p>\n\n\n\n\n\n\n\n\n\n\n
\n Guidance Metrics<\/strong>\n <\/td>\n\n 2026 Estimate<\/strong>\n <\/td>\n\n 2025 Actual<\/strong>\n <\/td>\n<\/tr>\n
Direct premiums written1,5<\/sup> growth<\/td>\n16% to 20%<\/td>\n14.8%<\/td>\n<\/tr>\n
Net combined ratio<\/td>\n81% to 86%<\/td>\n75.0%<\/td>\n<\/tr>\n
Underlying combined ratio1,2<\/sup> (excluding catastrophe losses and prior-year reserve development)<\/td>\n74% to 76%<\/td>\n74.4%<\/td>\n<\/tr>\n
Prior-year reserve development<\/td>\n\u2014%<\/td>\n(0.6)%<\/td>\n<\/tr>\n
Catastrophe loss ratio3<\/sup><\/td>\n7% to 10%<\/td>\n1.2%<\/td>\n<\/tr>\n
Net income per share \u2013 diluted<\/td>\n$2.20 to $2.90<\/td>\n$2.88<\/td>\n<\/tr>\n
Return on equity<\/td>\n24% to 30%<\/td>\n43.0%<\/td>\n<\/tr>\n
Illustrative: Net income per share – diluted at 2025 Actual catastrophe loss ratio (1.2%)4<\/sup><\/td>\n~$3.53<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n
\n
\n 1<\/sup>Refer to \u201cDefinitions and Non-GAAP Measures\u201d for definitions and 2025 reconciliations.<\/sub>
\n <\/em>
\n
\n
\n
\n 2<\/sup>The Underlying Combined Ratio is a non-GAAP measure. It is computed as the sum of the underlying loss ratio (which is a non-GAAP measure) and the net underwriting expense ratio. The underlying loss ratio excludes catastrophe losses and prior-year reserve development from the GAAP net loss ratio. The most directly comparable GAAP measure is the net combined ratio. Refer to the section entitled \u201cDefinitions and Non-GAAP Measures\u201d included in this press release for definitions and reconciliations of non-GAAP financial measures. A reconciliation of the 2026 estimate of Underlying Combined Ratio to the GAAP net combined ratio is not provided because the Company is unable to predict catastrophe losses and prior-year reserve development with reasonable certainty without unreasonable efforts. These items could materially impact the GAAP measure.<\/sub>
\n <\/em>
\n
\n
\n
\n 3<\/sup>The catastrophe loss ratio estimate for 2026 of 7% to 10% is at or above the Company\u2019s six-year historical average of 7.1% (2019\u20132024) and gives effect to the elevated winter storm activity experienced in early 2026. Catastrophe losses are reported net of reinsurance recoveries and include loss adjustment expenses. The Company defines catastrophe events consistent with PCS industry designations.<\/sub>
\n <\/em>
\n
\n
\n
\n 4<\/sup>Illustrative sensitivity only; not forward-looking guidance. Represents guidance-midpoint net income per share-diluted recalculated at FY2025 actual catastrophe loss ratio of 1.2%, assuming that all other guidance assumptions remain constant. This figure is provided for modeling context only.<\/sub>
\n <\/em>
\n
\n
\n
\n 5<\/sup>Guidance for the most comparable GAAP measure, net premiums earned, is not provided because net premiums earned is an output of multiple variables including direct written premium growth, quota share cession rates, and premium earning patterns, several of which are not within the Company\u2019s direct control, therefore the Company is unable to predict such variables with reasonable certainty without unreasonable efforts.<\/sub>
\n <\/em>\n <\/p>\n

\n
\n Catastrophe Sensitivity<\/em>
\n <\/strong>\n <\/p>\n

For purposes of the 2026 guidance, it is assumed that each 1 point of catastrophe loss ratio will result in ~$2.5 million pre-tax losses, or ~$0.13 per diluted share after tax, as indicated below:<\/p>\n\n\n\n\n\n
\n CAT Sensitivity Metric (Per 1.0 pt change)<\/strong>\n <\/td>\n\n 2026E<\/strong>\n <\/td>\n<\/tr>\n
Pre-tax underwriting impact<\/td>\n~$2.5 million<\/td>\n<\/tr>\n
After-tax underwriting impact per share (at assumed effective tax rate)<\/td>\n~$0.13 per share<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n Key Modeling Assumptions<\/strong>\n <\/p>\n

The following reflects certain key modeling assumptions with respect to the full year 2026 guidance:<\/p>\n\n\n\n\n\n\n
\n Assumption<\/strong>\n <\/td>\n\n 2026E<\/strong>\n <\/td>\n<\/tr>\n
Illustrative net premiums earned*<\/td>\n~$252 million<\/td>\n<\/tr>\n
Assumed effective tax rate<\/td>\n21%<\/td>\n<\/tr>\n
Weighted average diluted shares outstanding<\/td>\n14.8 million<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n * For modeling purposes only. The illustrative net premiums earned figure is a baseline assumption used solely for the catastrophe sensitivity calculations above. It is not forward-looking guidance on net premiums earned and should not be interpreted as such. Net premiums earned is an output of multiple variables including direct written premium growth, quota share cession rates, and premium earning patterns, several of which are not within the Company\u2019s direct control.<\/em>\n <\/p>\n

\n Consolidated Financial Results<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n Consolidated Financial Results<\/strong>\n <\/td>\n\n Quarters Ended<\/strong>\n <\/td>\n\n Years Ended<\/strong>\n <\/td>\n<\/tr>\n
\n ($ in thousands, except policy and per share data)<\/em>\n <\/td>\n\n December 31,<\/strong>\n <\/td>\n\n December 31,<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2024<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Change<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2024<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Change<\/strong>\n <\/td>\n<\/tr>\n
Net premiums earned<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 49,463<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 35,967<\/td>\n\u00a0<\/td>\n37.5<\/td>\n%<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 187,127<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 128,498<\/td>\n\u00a0<\/td>\n45.6<\/td>\n%<\/td>\n<\/tr>\n
Direct premiums written1<\/sup><\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 82,753<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 72,533<\/td>\n\u00a0<\/td>\n14.1<\/td>\n%<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 277,801<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 241,980<\/td>\n\u00a0<\/td>\n14.8<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Policies in force, at the end of the period<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 80,432<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 77,656<\/td>\n\u00a0<\/td>\n3.6<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net investment income<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2,951<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,906<\/td>\n\u00a0<\/td>\n54.8<\/td>\n%<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 9,799<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6,824<\/td>\n\u00a0<\/td>\n43.6<\/td>\n%<\/td>\n<\/tr>\n
Net gains (losses) on investments<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (901<\/td>\n)<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (905<\/td>\n)<\/td>\n0.4<\/td>\n%<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (310<\/td>\n)<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 415<\/td>\n\u00a0<\/td>\n\n NM<\/em>\n <\/td>\n<\/tr>\n
Gain on sale of real estate<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u2014<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u2014<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n%<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,966<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u2014<\/td>\n\u00a0<\/td>\n\n NM<\/em>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net loss ratio<\/td>\n\u00a0<\/td>\n36.3<\/td>\n%<\/td>\n\u00a0<\/td>\n48.7<\/td>\n%<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (12.4)pts<\/td>\n\u00a0<\/td>\n45.0<\/td>\n%<\/td>\n\u00a0<\/td>\n48.7<\/td>\n%<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (3.7)pts<\/td>\n<\/tr>\n
Net underwriting expense ratio<\/td>\n\u00a0<\/td>\n27.9<\/td>\n%<\/td>\n\u00a0<\/td>\n29.8<\/td>\n%<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (1.9)pts<\/td>\n\u00a0<\/td>\n30.0<\/td>\n%<\/td>\n\u00a0<\/td>\n31.3<\/td>\n%<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (1.3)pts<\/td>\n<\/tr>\n
Net combined ratio<\/td>\n\u00a0<\/td>\n64.2<\/td>\n%<\/td>\n\u00a0<\/td>\n78.5<\/td>\n%<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (14.3)pts<\/td>\n\u00a0<\/td>\n75.0<\/td>\n%<\/td>\n\u00a0<\/td>\n80.0<\/td>\n%<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (5.0)pts<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net loss ratio<\/td>\n\u00a0<\/td>\n36.3<\/td>\n%<\/td>\n\u00a0<\/td>\n48.7<\/td>\n%<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (12.4)pts<\/td>\n\u00a0<\/td>\n45.0<\/td>\n%<\/td>\n\u00a0<\/td>\n48.7<\/td>\n%<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (3.7)pts<\/td>\n<\/tr>\n
\u00a0Catastrophe loss ratio1<\/sup><\/td>\n\u00a0<\/td>\n2.1<\/td>\n%<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n%<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.1pts<\/td>\n\u00a0<\/td>\n1.2<\/td>\n%<\/td>\n\u00a0<\/td>\n1.9<\/td>\n%<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.7)pts<\/td>\n<\/tr>\n
Net loss ratio excluding the effect of catastrophes1<\/sup><\/td>\n\u00a0<\/td>\n34.2<\/td>\n%<\/td>\n\u00a0<\/td>\n48.7<\/td>\n%<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (14.5)pts<\/td>\n\u00a0<\/td>\n43.8<\/td>\n%<\/td>\n\u00a0<\/td>\n46.8<\/td>\n%<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (3.0)pts<\/td>\n<\/tr>\n
Effect of prior-year favorable\u00a0 reserve development<\/td>\n(0.5) %<\/td>\n(0.4) %<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.1)pts<\/td>\n(0.6) %<\/td>\n(1.4) %<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.8pts<\/td>\n<\/tr>\n
Underlying loss ratio1<\/sup><\/td>\n\u00a0<\/td>\n34.7<\/td>\n%<\/td>\n\u00a0<\/td>\n49.1<\/td>\n%<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (14.4)pts<\/td>\n\u00a0<\/td>\n44.4<\/td>\n%<\/td>\n\u00a0<\/td>\n48.2<\/td>\n%<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (3.8)pts<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net Income<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 14,760<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 5,439<\/td>\n\u00a0<\/td>\n171.4<\/td>\n%<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 40,767<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 18,358<\/td>\n\u00a0<\/td>\n122.1<\/td>\n%<\/td>\n<\/tr>\n
Net Income per share – basic<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.04<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.44<\/td>\n\u00a0<\/td>\n136.4<\/td>\n%<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.93<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.60<\/td>\n\u00a0<\/td>\n83.1<\/td>\n%<\/td>\n<\/tr>\n
Net Income per share – diluted<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.03<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.40<\/td>\n\u00a0<\/td>\n157.5<\/td>\n%<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.88<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.48<\/td>\n\u00a0<\/td>\n94.6<\/td>\n%<\/td>\n<\/tr>\n
Return on equity – annualized<\/td>\n\u00a0<\/td>\n51.3<\/td>\n%<\/td>\n\u00a0<\/td>\n34.4<\/td>\n%<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 16.9pts<\/td>\n\u00a0<\/td>\n43.0<\/td>\n%<\/td>\n\u00a0<\/td>\n36.3<\/td>\n%<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6.7pts<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Adjusted EBITDA1<\/sup><\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 20,342<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 9,303<\/td>\n\u00a0<\/td>\n118.7<\/td>\n%<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 54,052<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 30,516<\/td>\n\u00a0<\/td>\n77.1<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other comprehensive income (loss), net of tax<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 663<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (3,135<\/td>\n)<\/td>\nNM<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6,094<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 99<\/td>\n\u00a0<\/td>\n\n NM<\/em>\n <\/td>\n<\/tr>\n
Operating net income1<\/sup><\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 15,471<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6,153<\/td>\n\u00a0<\/td>\n151.4<\/td>\n%<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 39,459<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 18,031<\/td>\n\u00a0<\/td>\n118.8<\/td>\n%<\/td>\n<\/tr>\n
Operating net income per share – basic1<\/sup><\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.09<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.49<\/td>\n\u00a0<\/td>\n122.4<\/td>\n%<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.83<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.57<\/td>\n\u00a0<\/td>\n80.3<\/td>\n%<\/td>\n<\/tr>\n
Operating net income per share – diluted1<\/sup><\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.08<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.46<\/td>\n\u00a0<\/td>\n134.8<\/td>\n%<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.79<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.45<\/td>\n\u00a0<\/td>\n92.4<\/td>\n%<\/td>\n<\/tr>\n
Operating return on equity1<\/sup><\/td>\n\u00a0<\/td>\n13.4<\/td>\n%<\/td>\n\u00a0<\/td>\n9.7<\/td>\n%<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3.7pts<\/td>\n\u00a0<\/td>\n41.7<\/td>\n%<\/td>\n\u00a0<\/td>\n35.6<\/td>\n%<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6.1pts<\/td>\n<\/tr>\n
Operating return on equity1<\/sup> – annualized<\/td>\n\u00a0<\/td>\n53.7<\/td>\n%<\/td>\n\u00a0<\/td>\n38.9<\/td>\n%<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 14.8pts<\/td>\n\u00a0<\/td>\n41.7<\/td>\n%<\/td>\n\u00a0<\/td>\n35.6<\/td>\n%<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6.1pts<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Book value per share, at the end of the period – diluted<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 8.28<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4.73<\/td>\n\u00a0<\/td>\n75.2<\/td>\n%<\/td>\n<\/tr>\n
Book value per share, at the end of the period – diluted excluding AOCI<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 8.69<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 5.59<\/td>\n\u00a0<\/td>\n55.5<\/td>\n%<\/td>\n<\/tr>\n<\/table>\n

\n \u00a0NM = Not Meaningful<\/em>
\n
\n
1 Refer to section entitled “<\/em>
\n Definitions and Non-GAAP Measures” included in this press release.<\/em>\n <\/p>\n

\n Conference Call Details<\/strong>\n <\/p>\n

Friday, March 6, 2026, at 8:30 a.m. Eastern Time<\/p>\n

To participate please dial:<\/p>\n\n\n\n\n
\u00a0<\/td>\nU.S. toll free\u00a0<\/td>\n1-877-407-2991<\/td>\n<\/tr>\n
\u00a0<\/td>\nInternational<\/td>\n1-201-389-0925<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

Participants are asked to dial-in approximately 10 minutes before the conference call is scheduled to begin. The conference call will also be available via live webcast on the Company\u2019s website under the News & Events\/Presentations section at \u00a0www.kingstonecompanies.com<\/a><\/u>.\u00a0 A replay will be available for 30 days.<\/p>\n

\n About Kingstone Companies, Inc.<\/strong>
\n
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. Kingstone delivers tailored homeowners insurance solutions through its sophisticated product suite, Select, supported by a scalable and efficient operating platform that enables the Company to pursue significant market opportunities and strategic expansion. KICO was the 12th largest writer of homeowners insurance in New York in 2024 and is also licensed in New Jersey, Rhode Island, Massachusetts, Connecticut, Pennsylvania, New Hampshire, and Maine.<\/p>\n

\n Investor Relations Contact:<\/strong>
\n
Elevate IR
KINS@elevate-ir.com<\/a>\u00a0
720-330-2829<\/p>\n

\n
\n Disclaimer and Forward-Looking Statements<\/em>
\n <\/strong>\n <\/p>\n

\n The guidance provided above is based on information available as of March 5, 2026 and management’s review of the anticipated financial results for 2026. Such guidance remains subject to change based on management’s ongoing review of the Company’s 2026 results and is a forward-looking statement (see below). Kingstone assumes no obligation to update this guidance. The actual results 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 filings with the Securities and Exchange Commission. <\/em>\n <\/p>\n

\n This press release may contain \u201cforward-looking statements\u201d 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\u2019s 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, 2024.\u00a0 <\/em>\n <\/p>\n

\n The risks and uncertainties include, without limitation, the following:<\/em>\n <\/p>\n