AI-extracted from the 10-Q filed 2026-08-07 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Kingstone posted its most profitable quarter ever, with Q2 FY2026 net income of $15.5M (+37.5% YoY) as net premiums earned rose 30.8% and the net combined ratio improved to 70.2%.
Biggest Revenue Drivers
Net premiums earned$60.5M+30.8% YoY
Increase in retention from reduced quota share reinsurance cession and organic premium growth
Net investment income$3.4M+49.1% YoY
Increase in invested assets and higher average yield on non-cash invested assets
Biggest Revenue Drivers
Total revenue: $65.9M+25.9% YoY
Net premiums earned$60.5M+30.8% YoY
Increase in retention from reduced quota share reinsurance cession and organic premium growth
Within Net premiums earned
Personal lines$56.9M
Livery physical damage$3.6M
Net investment income$3.4M+49.1% YoY
Increase in invested assets and higher average yield on non-cash invested assets
Ceding commission revenue$1.5M-50.2% YoY
Provisional ceding commissions fell as premiums ceded decreased under the new 2026/2027 quota share treaty
Largest Expense Items
Loss and loss adjustment expenses$23.9M+33.5% YoY
Higher frequency and severity of non-catastrophe losses, partly offset by favorable prior-year reserve development and lower catastrophe losses
Commission expense$11.6M+8.9% YoY
Driven by higher direct earned premiums, partly offset by a lower estimated contingent commission accrual
Other underwriting expenses$8.7M+12.0% YoY
Higher salaries and employment costs, underwriting fees, premium taxes, and DFS regulatory fees
Other operating expenses$1.4M+18.1% YoY
Increase in equity compensation and professional fees
Margins: The net combined ratio improved to 70.2% from 71.5% a year earlier as the underwriting expense ratio fell 2.1 points to 30.6%, even as the loss ratio rose 0.8 points to 39.6% on higher non-catastrophe loss frequency and severity.
Watch Items from the Filing
98.5% of KICO's direct premiums written in the quarter came from New York policies, up from 97.9% a year earlier, underscoring heavy single-state concentration.
Disclosure controls were deemed not effective as of June 30, 2026 due to a prior material weakness tied to missing SOC 1 reports for the premium quoting and general ledger systems, though management believes it has now remediated it.
Six-month 2026 catastrophe losses totaled $14.0 million (12.0 points of the net loss ratio) from winter storm events in January-February, versus just $1.0 million a year earlier.
The personal lines quota share reinsurance rate dropped from 16% to 5% (30% in California) under the new 2026/2027 treaty, increasing the company's retained underwriting risk.
The Board authorized a buyback of up to 1,000,000 shares through May 2028 and declared a $0.06 per share quarterly dividend, alongside geographic expansion into California and Connecticut.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Brodsky Victor JChief Accounting OfficerShares withheld for tax or exercise price · Apr 15, 2026
Golden Meryl S.CEO, PresidentGrant or award · Jan 9, 2026
Tupper Floyd RReporting ownerGrant or award · Jan 2, 2026
Pasricha PranavReporting ownerGrant or award · Jan 2, 2026
Singh ManmohanReporting ownerGrant or award · Jan 2, 2026
About KINGSTONE COMPANIES, INC. (KINS): stock profile, AI score and financials
KINGSTONE COMPANIES, INC. (KINS) stock profile, AI quality score, and SEC EDGAR financial data, a Financials sector company. 13F Pro's AI-powered ranking engine scores KINS at 67.5/100 on a composite quality score built from its SEC filings, placing it at rank #366 of 2,925 stocks — the top 25% of the AI-ranked universe. KINS scores in the top quartile across free cash flow (88.5), revenue growth (87.4), earnings quality (83.8). Areas of concern include revenue scale (26.1), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q2 2026), KINGSTONE COMPANIES, INC. reports quarterly revenue of $65.9M, net income of $15.5M, an operating margin of 29.6%. Top institutional holders of KINS by reported 13-F value include BlackRock, ROYCE & ASSOCIATES, VANGUARD CAPITAL MANAGEMENT, based on the most recent SEC filings. KINS trades on the Nasdaq exchange and files with the SEC under CIK 33992. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate KINS daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for KINGSTONE COMPANIES, INC. directly from SEC EDGAR.