Kingstone Companies finalized its 2024/2025 catastrophe reinsurance program, reducing retention to $5M and total cost to 14% of projected direct premiums.
Kingstone Companies finalized its 2024/2025 catastrophe reinsurance program, reducing first event retention to $5M and total cost to 14% of projected direct premiums (from 19%). This move is expected to improve earnings by $0.21/share and lower reinsurance treaty cost by $6M. Over 25 reinsurers supported the revised underwriting guidelines, and Kingstone's Core New York State business saw 20% premium growth.
June 20, 2024
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