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KINS Nasdaq· Kingstone Companies Inc.
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KINS Nasdaq· Kingstone Companies Inc.
Earnings report Q3 2023

Kingstone Companies, Inc. Reports Stable Revenue in Latest Quarter

Segments of revenue

In the latest quarter, Kingstone Companies, Inc. (KINS) reported total revenues of $34.24 million. The breakdown of revenue sources includes:

  • Net premiums earned: $27.94 million
  • Ceding commission revenue: $5.54 million
  • Net investment income: $1.44 million
  • Net losses on investments: ($824,370)
  • Other income: $142,036

Strengths

Kingstone Companies, Inc. demonstrated stability in its revenue performance during the latest quarter. Despite a slight decrease in net premiums earned compared to the same period last year, the company managed to maintain a strong revenue base. The ceding commission revenue increased by approximately 13% compared to the previous year, indicating successful partnerships and growth opportunities. Additionally, the net investment income showed a modest increase, contributing positively to the overall revenue.

Challenges

One of the challenges faced by Kingstone Companies, Inc. in the latest quarter was the net losses on investments, amounting to ($824,370). This negative impact on revenue could be attributed to market volatility or specific investment decisions. It is important for the company to closely monitor and manage its investment portfolio to mitigate such losses in the future.

Noteworthy

Kingstone Companies, Inc. experienced a notable increase in ceding commission revenue, which indicates successful collaborations with other entities in the insurance industry. This growth in partnerships could potentially lead to further revenue diversification and expansion opportunities for the company.

Summary

Kingstone Companies, Inc. maintained a stable revenue performance in the latest quarter, with total revenues of $34.24 million. While net premiums earned slightly decreased, the company experienced growth in ceding commission revenue and net investment income. However, the net losses on investments posed a challenge to the overall revenue. Kingstone's successful partnerships and potential for revenue diversification are noteworthy. Overall, the company demonstrated resilience in its revenue generation despite certain challenges.

Source documents

Form 10-Q  filed on Nov 20, 2023
85 pages scanned

Reference data

Company financials Q3 revenue 34.2M
Analyst estimates Q3 EPS beat by 2,600.00%
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