Kingstone Companies

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Kingstone Companies, Inc ($KINS)

Everyone loves a microcap regional insurance company that is growing revenues, profitable, and has a stable ownership base. That is exactly what Kingstone Companies ($KINS) is, all while having a strong underwriting and risk team as exhibited by the Company’s combined ratio of 71.5% per the latest quarter. Kingstone Companies is a regional based underwriter and insurer that drives its primary revenues from property and casualty insurance. The Company is headquartered in Kingston, New York, and as of the end of 2024, was the 12^th largest writer of homeowners insurance in the State of New York via its Kingstone Insurance Company “KICO” banner. KINS was founded in 1886 and currently has just under 100 employees.

So why is now the time to be invested in a microcap insurer that has been around since 1886 and has a market cap of just under $200mm? Kingstone Companies is at an inflection growth point and has stabilized its management team and operations to continue growing both revenues and profitability, all while trading at a current valuation less than peers with regards to a forward P/E multiple (more on this later).

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