Kingstone has announced its financial results for the second quarter of 2026, reporting net income of $15.5 million, a record, and marking the “most profitable quarter in the company’s history,” according to the company’s President & CFO, Meryl Golden.
Net premiums earned rose 30.8% as premiums from Kingstone’s reduced quota share continue to earn in, to $60.4 million.
Direct premiums written were $72.4 million in the quarter, a 18.7% increase compared to Q2 2025, led by continued strength in New York personal lines.
Net combined ratio improved to 70.2%, generating an annualised return on equity of 50.8%. Net loss ratio fell to 39.6%, which included favourable prior-year reserve development and a negative catastrophe loss ratio of 0.8%, as favourable development on Q1 2026 catastrophe estimate exceeded Q2 catastrophe losses.
Underwriting expense ratio improved to 30.6%, reflecting the operating leverage of our scalable platform.
Complementing core insurance operations, net investment income surged 49% as a result of higher yields and a growing investment portfolio.
Golden stated: “I am very pleased to report the most profitable quarter in Kingstone’s history. Net income was a record $15.5 million, diluted earnings per share rose 35% to $1.05, and our GAAP net combined ratio improved to 70.2%, resulting in an annualized return on equity of 50.8%. Diluted book value per share increased 35% year-over-year to $8.69.”
The executive noted Kingstone’s strong capital position that continues to support profitable growth and disciplined capital returns.
During the quarter the company also completed its catastrophe reinsurance placement, expanding total coverage to $500 million.
Kingstone also added wildfire protection, maintained low first-event retentions and reduced the risk-adjusted cost of its core catastrophe excess of loss coverage by more than 15%.
“We also announced a share repurchase authorization during the quarter and subsequently increased our quarterly dividend by 20% to $0.06 per share, one year after reinstating it. We remain confident in our trajectory and committed to delivering long-term value to our shareholders,” Golden concluded.
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