Kingstone (KINS) Q1 2026 Earnings Transcript
Key takeaways
- President and Chief Executive Officer — Meryl Golden
- Good morning, everyone, and thanks for joining our call.
- This level of catastrophe activity was contemplated in our full year guidance.
President and Chief Executive Officer — Meryl Golden
Meryl Golden: Thanks, Stefan. Good morning, everyone, and thanks for joining our call. Let me start with the headlines. Our GAAP net combined ratio for the first quarter was a 112%, and we had a net loss of $5.8 million or $0.40 per diluted share. The quarter s results were driven by 11 winter catastrophe events across the Northeast, contributing 26 points to the loss ratio. The winter storm season in the first quarter was exceptionally severe for downstate New York and ranked as the coldest and snowiest in 11 years.
I m extremely proud of the way our claims organization handled these catastrophe events with many staff members working nights and weekends for months to be accessible and help our policyholders return to their pre-loss condition. This level of catastrophe activity was contemplated in our full year guidance. Now let me turn to what I believe is the more important story this quarter, the health of our underlying business. Last quarter, we introduced the underlying combined ratio as our primary operating metric specifically to give investors a clearer view of the business we control separated from the inherent volatility of catastrophe events. That framework was designed for exactly this type of quarter.