KINGSTONE COMPANIES, INC. (KINS) SEC Filings & Earnings Calls

Auditor change may signal internal control or accounting policy shift, but no disagreement disclosed.

“Changed its independent registered accounting firm; letter from CBIZ CPAs P.C.”

Catastrophe loss volatility

“The total net catastrophe impact for the Six Months of 2026 was $14,006,000, which contributed 12.0 points to the net loss ratio.” · word for word

Geographic concentration in New York

“For the six months ended June 30, 2026 and 2025, respectively, 98.6% and 98.1% of KICO’s direct premiums written came from the New York policies.” · word for word

Execution risk of 5-Year Growth Plan

“We plan to pursue prudent growth at a measured pace in our chosen new states, testing and validating rate adequacy commensurate with risk factors in the new geographies.” · word for word

Catastrophe loss exposure remains elevated; FY2026 guidance assumes 7-10% catastrophe loss ratio, above historical average of 7.1%

“Catastrophe loss ratio estimate for 2026 of 7% to 10% is at or above the Company’s six-year historical average of 7.1%” · word for word

Activist investor presence

“Gregory Fortunoff filed Schedule 13D on March 12, 2026, reporting 848,650 shares (5.9%).”

Key person dependency on CEO

“CEO Meryl Golden holds 1.6% of shares; her employment agreement extends to 2029.”

Catastrophe loss volatility

“Net catastrophe losses of $14.5M in Q1 2026 added 26.0 points to the loss ratio, compared to 1.7 points in Q1 2025.”

Geographic concentration in New York

“98.7% of direct premiums written came from New York policies in Q1 2026.”

Regulatory dividend restriction

“As of March 31, 2026, KICO does not have dividend paying capacity.” · word for word

Elevated catastrophe losses from severe winter storms in Northeast; 11 events in Q1 2026.

“Q1 GAAP Net Combined Ratio of 112.0% Driven by Eleven Winter Catastrophe Events in the Northeast U.S.” · word for word

Catastrophe loss ratio of 26.0% vs 1.7% prior year, a 24.3 point increase.

“Catastrophe loss ratio 26.0% vs 1.7%, 24.3pts change”

Catastrophe exposure

“Catastrophe coverage under the 2025/2026 Catastrophe Treaty increased by $165,000,000 compared to the 2024/2025 Catastrophe Treaty.” · word for word

Geographic concentration in New York

“98.0% of KICO's direct written premiums came from New York policies in 2025.”

Execution risk on 5-year growth plan

“We recently announced our 5-year goal of $500 million in direct written premium.” · word for word

Catastrophe loss exposure could impact earnings; guided 7-10% catastrophe loss ratio for 2026.

“Catastrophe loss ratio estimate for 2026 of 7% to 10%, each 1 point = ~$2.5M pre-tax.”

Expansion into California introduces new market risk.

“Measured expansion into new markets, starting with California in Q2 2026.”

Preliminary results subject to change; reliance on low catastrophe losses may not persist.

“Estimated, unaudited financial results ... remain subject to change.” · word for word

Geographic concentration in New York

“For the nine months ended September 30, 2025 and 2024 respectively, 98.1% and 95.6% of KICO’s direct written premiums came from the New York policies.” · word for word

Catastrophe exposure

“Catastrophe losses cause our loss ratios to vary significantly between periods as a result of their incidence of occurrence and magnitude and can have a significant impact on the net loss ratio.” · word for word

Reserve estimation uncertainty

“Due to the inherent uncertainty of the reserve process, actual loss costs could vary significantly compared to estimated loss costs.” · word for word

Catastrophe loss exposure remains a risk, though Q3 was favorable.

“Catastrophe loss ratio 0.2% vs 1.7% prior year; management notes typical Q3 would have combined ratio in low eighties.”

Underlying loss ratio increased 4.9pts YoY, indicating potential margin pressure from non-catastrophe claims.

“Underlying loss ratio 44.1% vs 39.2% (4.9pt increase).”