Kingstone Companies successfully capitalized on the exit of several competitors from the New York personal lines insurance market by the end of 2024. This market dislocation, which included the non-renewal of tens of thousands of policies by Adirondack and Mountain Valley, created a substantial opportunity for Kingstone.
The company reported capturing over 6,000 policies and $23 million in new premiums as a direct result of these competitor withdrawals. This influx of new business demonstrates Kingstone's ability to strategically expand its footprint in its core New York market.
The business acquired from these exiting competitors has reportedly performed even better than Kingstone's already strong Select product book. This indicates effective risk selection and underwriting, further enhancing the company's overall profitability and market position.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.