Kingstone Companies, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 20, 2023 at 03:53 pm EST
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Kingstone Companies, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 34.24 million compared to USD 35.54 million a year ago. Net loss was USD 3.54 million compared to USD 4 million a year ago. Basic loss per share from continuing operations was USD 0.33 compared to USD 0.38 a year ago. Diluted loss per share from continuing operations was USD 0.33 compared to USD 0.38 a year ago.
For the nine months, revenue was USD 107.58 million compared to USD 93.07 million a year ago. Net loss was USD 9.11 million compared to USD 18.57 million a year ago. Basic loss per share from continuing operations was USD 0.85 compared to USD 1.75 a year ago. Diluted loss per share from continuing operations was USD 0.85 compared to USD 1.75 a year ago.
Kingstone Companies, Inc., through its wholly owned subsidiary, Kingstone Insurance Company, operates as a property and casualty insurance company. The Company's property insurance covers the financial consequences of accidental losses to the insured's property, such as a home and the personal property in it, or a business owner's building, inventory and equipment. Casualty insurance (also referred to as liability insurance) covers the financial consequences related to the legal liability of an individual or an organization resulting from negligent acts and omissions that cause bodily injury and/or property damage to a third party. The Company's product lines include personal lines, livery physical damage, and other. Its personal lines consist of homeowners and dwelling fire multi-peril, cooperative/condominiums, renters, and personal umbrella policies. The Company writes for-hire vehicle physical damage only policies for livery and car service vehicles and taxicabs.
KINGSTONE COMPANIES, INC. 
