Kingstone Companies announced its full-year 2024 financial results, reporting a net income of $18.3 million. The company achieved a core business direct written premium growth of 31% for the full year, demonstrating robust expansion in its primary market.
For the fourth quarter of 2024, core direct written premiums increased by 49%. The company's total revenue for the full year reached $155.1 million, representing a 7.6% increase compared to the prior fiscal year.
Management provided optimistic guidance for the full year 2025, projecting core business direct written premium growth between 15% and 25%. The outlook also includes a GAAP combined ratio between 81% and 85%, basic earnings per share between $1.90 and $2.30, and diluted earnings per share between $1.75 and $2.15.
The company anticipates a return on equity between 27% and 35% for 2025. This guidance is supported by expected continued growth in earned premiums, ongoing improvements in underwriting profitability from the Select product, and the benefit of eliminating holding company interest expense.
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