Kingstone Companies has completed its catastrophe reinsurance program for the July 1, 2025, through June 30, 2026, treaty period, the company announced.
The updated program reflects a 57% increase in limit, or US$160 million, bringing the total catastrophe reinsurance protection to US$440 million.
The expanded coverage comes in response to growth in Kingstone’s premium volume and exposure over the past year. According to the company, the program includes US$125 million in multi-year protection backed by 1886 Re Ltd., Kingstone’s inaugural catastrophe bond, which was announced in May.
The catastrophe bond, issued through Bermuda-based special purpose insurer 1886 Re Ltd., provides per-occurrence indemnity-triggered coverage for named storm events affecting New York, New Jersey, Connecticut, Massachusetts, and Rhode Island.
The Series 2025-1 notes were priced at 4.5% and offer protection across four annual risk periods, spanning July 1, 2025, to June 30, 2029.
Chief executive officer Meryl Golden (pictured above) said the placement was completed with what the company considers favorable terms.
“In response to the significant growth in premium and exposure experienced in the past year, we increased our catastrophe reinsurance limit by 57%, or US$160 million, to US$440 million. The limit includes multi-year protection of US$125 million sourced through the issuance of our first catastrophe bond, 1886 Re Ltd., as announced in May,” she said.
The increase to US$440 million in total reinsurance protection represents a step up from the US$280 million limit secured during the 2024–2025 treaty cycle.
Golden also said that the reduction in relative cost will contribute to earnings, estimating an increase in projected diluted EPS of US$0.11 for the six-month period ending December 31, 2025. Similar benefits are expected for the remaining duration of the treaty.
More than 25 reinsurers participated in the placement, according to Kingstone. Golden said the level of participation reflects continued confidence in the company’s underwriting and approach to risk management.
Kingstone also reported net income of US$3.88 million for the first quarter of 2025, a 172% increase over the same period in the prior year. The insurer marked its sixth consecutive quarter of profitability, supported by premium growth and underwriting discipline.
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