A.M. Best Affirms Credit Ratings of Kingstone Insurance Company and Kingstone Companies, Inc.
The ratings of KICO reflect its balance sheet strength, which
KICO’s risk-adjusted capitalization trended upward significantly during 2017, driven by
KICO’s strong operating performance is reflected in the company’s double-digit, five-year pre-tax returns on revenue and equity, generated by positive net underwriting income and supplemented by net investment and other income. These five-year operating returns compare favorably with the industry composite average.
Partially offsetting KICO’s positive rating factors are its dependence on reinsurance and its concentration of risk, primarily in downstate
While KICO’s single-state concentration exposes it to weather-related events, catastrophe exposure is partially mitigated through catastrophe reinsurance, which it has purchased at increased limits in recent years, as well as the use of hurricane deductibles, visual risk inspections, distance-from-shore restrictions and surcharges. Additionally, KICO has been expanding its operating territory to regions beyond the
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and
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