Kingstone Announces Revised Preliminary Results for the Three and Six Month Periods Ended June 30, 2020

Kingstone Companies, Inc. (Nasdaq: KINS) (the “Company” or “Kingstone”), a Northeast regional property and casualty insurance holding company, today announced revised preliminary unaudited financial results for the three and six months ended June 30, 2020.

The revised preliminary unaudited financial results included in this press release are based on information available as of August 3, 2020 and management's latest review of operations for the second quarter. They remain subject to change based on management's ongoing review of the Company's second quarter and year to date results and are forward-looking statements (see “Forward-Looking Statements” below). The decrease in the Company’s book value per share, net income and net income per diluted share reflected in this press release, as compared to the amounts included in the Company’s earlier press release announcing its preliminary results for the three and six months ended June 30, 2020, relate to a recalculation of the change in the Company's unrealized gains for its equities and bond portfolio for the second quarter. The revised preliminary results reflect an increase in the Company’s net operating income¹ and net operating income per diluted share¹ and an increase in the Company’s net premiums earned from the amounts included in the earlier press release. In addition, the revised preliminary results reflect a decrease in the Company’s net combined ratio and net loss ratio (excluding commercial lines in run off) as compared to the percentages shown in the earlier press release. Further, the Company’s preliminary net loss ratio for the three and six months ended June 30, 2020 remains unchanged from the earlier press release. Kingstone assumes no obligation to update these statements. 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 fillings with the Securities and Exchange Commission.

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¹ These measures are not based on accounting principles generally accepted in the United States (“GAAP”) and are defined and reconciled to the most directly comparable GAAP measures in Form 8-K Exhibit 99.2 “Additional Preliminary Financial Information for Q2 2020” (also available at www.kingstonecompanies.com).

Financial Highlights

2020 Second Quarter

(All results are approximations and are compared to prior year quarterly period actual amounts unless otherwise noted)