Kingstone Company profile
About Kingstone Companies Inc
Kingstone Companies, Inc. (Kingstone) offers property and casualty insurance products to individuals in New York State. The Company offers its products through its wholly owned subsidiary, Kingstone Insurance Company (KICO). KICO is a licensed property and casualty insurance company, which is offering its insurance products in New York, New Jersey, Rhode Island, Massachusetts and Connecticut. The Company offers a range of property and casualty policies to its producers. It underwrites its business utilizing industry claims databases, insurance scoring reports, physical inspection of risks and other individual risk underwriting tools. The Company writes homeowners and dwelling fire business in coastal markets. The Company's product lines include personal lines, livery physical damage, commercial liability and other. Its personal lines consist of homeowners, dwelling fire, renters, equipment breakdown and service line endorsements and personal umbrella policies.
Financial summary
BRIEF: For the nine months ended 30 September 2021, Kingstone Companies Inc revenues increased 23% to $118.1M. Net loss increased from $2.1M to $9.6M. Revenues reflect Investment Income increase of 8% to $5.4M. Higher net loss reflects Commission expense increase of 4% to $24.7M (expense), Depreciation and amortization increase of 20% to $2.5M (expense). Dividend per share decreased from $0.14 to $0.12.
Equity composition
Common Stock $.01 Par, 03/11, 10M auth., 4,643,122 issd., less 804,736 shs. in Treas. @ $1.2M. Insiders own 34.42%. 2/25/99, Company acqu. Dealers Choice Auto. Planning & changed its name from Extech Corp. *6/99, Co. issd. $1,675,000 in stk. & warr. in a private placement. 07/09, Name changed from DCAP Group Inc.
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