Kingstone Companies (KINS) investor relations material

Executive summary

• Achieved record quarterly net income of $15.5 million and diluted EPS of $1.05, up 35% year-over-year, marking the most profitable quarter in company history.

• Annualized return on equity reached 50.8% for the quarter.

• Diluted book value per share rose 35% year-over-year to $8.69.

• Direct premiums written increased 19% year-over-year to $72.5 million, led by New York personal lines.

• Reaffirmed 2026 outlook with continued expansion into California and Connecticut.

Financial highlights

• Net premiums earned grew 31% year-over-year to $60.5 million for Q2 2026.

• Net income rose 37.5% year-over-year to $15.5 million; diluted EPS up 34.6% to $1.05.

• Net investment income increased 49% to $3.4 million for Q2.

• Net combined ratio improved to 70.2% for Q2, down 1.3 points year-over-year.

• Adjusted EBITDA for Q2 was $20.7 million, up 40% year-over-year.

Outlook and guidance

• Reaffirmed full-year 2026 guidance: direct premiums written growth of 16–20%, net combined ratio of 81–86%, underlying combined ratio of 74–76%.

• Catastrophe loss ratio guidance of 7–10% for 2026.

• Net income per diluted share guidance of $2.20–$2.90; return on equity projected at 24–30%.

• Guidance incorporates expectations for a softer market and increased competition in the second half.

• Assumed effective tax rate of 21% and 14.8 million weighted average diluted shares outstanding.