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Kingstone Announces Estimated Prior Quarter Catastrophe Losses

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Kingstone Declares Quarterly Dividend of $0.04 per share

KINGSTON, NY / ACCESSWIRE / February 1, 2021 / Kingstone Companies, Inc. (NASDAQ:KINS) (the "Company" or "Kingstone"), a Northeast regional property and casualty insurance holding company, today announced that Kingstone Insurance Company ("KICO"), its wholly owned subsidiary, estimates net pre-tax catastrophe losses for the fourth quarter of 2020 of $1.2 million. Catastrophe losses for the quarter comprised 4 events at an estimated gross cost of $1.5 million. Catastrophe losses after-tax are estimated at $0.97 million.

Kingstone announced today that its Board of Directors has declared a common stock dividend of $0.04 per share. The dividend is payable on March 15, 2021 to holders of record as of February 26, 2021.

Financial information, including material announcements about Kingstone Companies, is routinely posted on www.kingstonecompanies.com.

About Kingstone Companies, Inc.
Kingstone is a northeast regional property and casualty insurance holding company whose principal operating subsidiary is Kingstone Insurance Company ("KICO"). KICO is a New York domiciled carrier writing business through retail and wholesale agents and brokers. KICO offers primarily personal lines insurance products in New York, New Jersey, Rhode Island, Massachusetts, and Connecticut. Kingstone is also licensed in Pennsylvania, New Hampshire and Maine.

Forward-Looking Statements
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 be forward-looking statements. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. These statements involve risks and uncertainties that could cause actual results to differ materially from those included in forward-looking statements due to a variety of factors. For more details on factors that could affect expectations, see Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2019 under "Factors That May Affect Future Results and Financial Condition" and Part II, Item 1A of our Quarterly Report on Form 10-Q for the period ended June 30, 2020 filed with the Securities and Exchange Commission. Kingstone undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

CONTACT:
Kingstone Companies, Inc.
Amanda M. Goldstein
Investor Relations Director
(516) 960-1319

SOURCE: Kingstone Companies, Inc.



View source version on accesswire.com:
https://www.accesswire.com/626679/Kingstone-Announces-Estimated-Prior-Quarter-Catastrophe-Losses