Kingstone Announces Certain Preliminary First Quarter 2024 Results and Schedules Conference Call

Continuation of Profitable Performance and Material Reduction in Non-Core Policies-In-Force

KINGSTON, NY / ACCESSWIRE / April 29, 2024 / Kingstone Companies, Inc. (Nasdaq:KINS) (the "Company" or "Kingstone"), a Northeast regional property and casualty insurance holding company, announced today certain preliminary financial results for its first quarter ended March 31, 2024, and announced that it will hold its first quarter 2024 financial results conference call on Tuesday, May 14, 2024, at 8:30 a.m. Eastern Time. The financial results news release is expected to be issued after the market closes on Monday, May 13, 2024.

Preliminary Results
(Estimated and Unaudited)

First Quarter 2024 (all metrics are compared to First Quarter 2023):
Kingstone refers to New York business as its "core" business and the business outside of New York as its "non-core" business.

• Net premiums earned of $28.8 million, an increase of 2.0%, primarily driven by significant renewal rate achievement in its core business, offset by the Company's strategic run-off execution of its non-core business.
  • Net premiums earned from non-core business declined by 49% from $4.5 million to $2.3 million.
  • Reduced non-core policies-in-force by 52%.
• Consolidated GAAP combined ratio of 93.6%, a 30.0 percentage point improvement.
• Catastrophe loss ratio of 5.2%, an 8.0 percentage point improvement.

Conference Call Details

Tuesday, May 14, 2024, at 8:30 a.m. Eastern Time

To participate please dial:

U.S. toll free 1-877-423-9820
International 1-201-493-6749

Participants are asked to dial-in approximately 10 minutes before the conference call is scheduled to begin. The conference call can also be accessed via webcast in the "Events & Presentations" tab of the Company's website or by clicking here. The webcast will be archived and accessible for approximately 30 days.

About Kingstone Companies, Inc.

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. KICO is actively writing personal lines and commercial auto insurance in New York, and in 2023 was the 15^th largest writer of homeowners insurance in New York. KICO is also licensed in New Jersey, Rhode Island, Massachusetts, Connecticut, Pennsylvania, New Hampshire, and Maine.