Kingstone Reports Third Quarter 2026 Results
Key Highlights
- ➤Q3 net income $17.6 million, up 62%, with diluted EPS of $1.19
- ➤Q3 GAAP net combined ratio improved 7.1 points to 65.6%
- ➤2026 diluted EPS guidance raised and narrowed to $2.70-$2.90
- ➤2026 net combined ratio outlook improved to 79%-83%
- ➤Q3 net premiums earned grew 30.2% to $62.4 million
Expert Statements
Meryl Golden, President and Chief Executive Officer of Kingstone
“I am very pleased to again report the most profitable quarter in Kingstone history. Net income increased 62% to $17.6 million, or $1.19 per diluted share, and our GAAP net combined ratio improved 7.1 points to 65.6%, resulting in an annualized return on equity of 52.9%.”
Meryl Golden, President and Chief Executive Officer of Kingstone
“Diluted book value per share rose 26% year-over-year to $9.21 despite $9.7 million of after-tax unrealized bond losses in the quarter.”
Meryl Golden, President and Chief Executive Officer of Kingstone
“Net premiums earned rose 30% on premium growth and our reduced quota share and direct premiums written(1) grew 14.5%, driven by higher average renewal premiums, improved retention and new business growth.”
Meryl Golden, President and Chief Executive Officer of Kingstone
“Policies in force are now up 11% year-over-year.”
Meryl Golden, President and Chief Executive Officer of Kingstone
“Our 34.9% net loss ratio included 6.1 points of favorable prior-year reserve development and 7.5 points of catastrophe losses, compared with 0.2 points of catastrophe losses a year ago.”
Meryl Golden, President and Chief Executive Officer of Kingstone
“Excluding both, our underlying loss ratio(1) improved 10.6 points to 33.5% on lower claim frequency and severity, supported by the growing mix of business on the Select platform and faster claims cycle times that give us earlier visibility into ultimate claim costs.”
Meryl Golden, President and Chief Executive Officer of Kingstone
“We are updating our 2026 direct premiums written growth outlook to approximately 16%, improving our net combined ratio outlook to 79% to 83%, and raising the midpoint of our diluted earnings per share guidance to $2.80.”
Meryl Golden, President and Chief Executive Officer of Kingstone
“We will continue to execute with discipline, grow where the returns justify it and allocate capital prudently to deliver long-term value to our shareholders.”
Most Profitable Quarter in Company History Diluted Net Income Per Share of $1.19 | Annualized Return on Equity of 53% Net Premiums Earned Growth of 30% | Direct Premiums Written Growth(1) of 14.5%
Company Updates 2026 Outlook; Raises and Narrows Diluted EPS Guidance to $2.70 to $2.90
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