Kingstone Announces 2019 First Quarter Catastrophe Losses and Reorganization of Claims Department
Catastrophe Losses in Q1-KICO estimates ultimate net losses from multiple winter catastrophe events of approximately
Claims Department Reorganization-“Following multiple quarters of disappointing results from our
Updated Guidance
As a result of the two charges noted above, Kingstone now expects to end the full year with a combined ratio excluding catastrophe losses of 88% to 91% and catastrophe losses of 4 to 5 points.
About
Kingstone is a northeast regional property and casualty insurance holding company whose principal operating subsidiary is
Forward-Looking Statement
Statements in this press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. These statements involve risks and uncertainties that could cause actual results to differ materially from those included in forward-looking statements due to a variety of factors. For more details on factors that could affect expectations, see Part II, Item 7 of our Annual Report on Form 10-K for the year ended
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