Business
Kingstone Announces Renewal Rights Transaction to Grow Homeowners Insurance Business in Downstate New York
KINGSTON, NY / ACCESS Newswire / April 14, 2025 /Kingstone Companies, Inc. (Nasdaq:KINS) (the "Company" or "Kingstone"), a Northeast regional property and casualty insurance holding company, today announced that its subsidiary, Kingstone Insurance ...
About this update from Kingstone Companies, Inc
[{"type":"text","content":"KINGSTON, NY / ACCESS Newswire / April 14, 2025 / Kingstone Companies, Inc. (Nasdaq:KINS) (the "Company" or "Kingstone"), a Northeast regional property and casualty insurance holding company, today announced that its subsidiary, Kingstone Insurance Company, has entered into an agreement to offer a replacement policy to selected Homeowners policyholders in Downstate New York as AmGUARD Insurance Company® ("AmGUARD") pivots focus away from admitted personal lines business. AmGUARD's withdrawal plan, which includes this transaction, is pending approval by the New York Department of Financial Services. This transaction encompasses approximately $70 million in written premium.","length":714,"tagName":"p"},{"type":"text","content":"Meryl Golden, Chief Executive Officer of Kingstone, stated, "We are delighted to work with AmGUARD's exceptional distribution partners to further increase our footprint in Downstate New York by offering an alternative policy to selected Homeowners policyholders with effective dates starting in the third quarter of 2025. This transaction will be handled in a similar manner to the withdrawal of several other carriers last year, except that we will be streamlining the process by providing a quote for eligible policyholders to our producers. We are working closely with AmGUARD to ensure a smooth and seamless transition for brokers and policyholders, alike."","length":675,"tagName":"p"},{"type":"text","content":"Adam Edelstein, Chief Executive Officer of AmGUARD, stated, "GUARD is rapidly becoming the leading small business insurer and laser-focused on our commercial insurance products. As a result, we have decided to cease writing admitted Homeowners business nationwide. To support our agents, brokers, and insureds, we are delighted to partner with Kingstone, a specialist in New York Homeowners insurance, in an effort to provide our Downstate New York policyholders with a replacement coverage option."","length":509,"tagName":"p"},{"type":"text","content":"Disclaimer and Forward-Looking Statements","length":41,"tagName":"p"},{"type":"text","content":"This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may...