Kingstone Companies, Inc. (NASDAQ: KINS) reported its results of operations for the year ended December 31, 2011.
Barry Goldstein, KINS Chairman and CEO, said “2011 was our best year yet. Kingstone Insurance Company (“KICO”) produced the best results in its 125 year history, leading to an increase in all important year over year metrics for KINS: Net Premiums Earned +34%; Net Income +155%; Net Earnings per Share (Basic) +124%; Book Value per Share +21%.”
Mr. Goldstein continued, “Our dedicated and knowledgeable staff works closely with our selected producers, allowing for these stellar results. We seek to maintain an open, accessible and personal underwriting environment with our select producers, where each party knows what to expect of the other. We do not believe in the ‘one size fits all’ on-line only approach that so many of our competitors have deployed. They have built slick interfaces and exceedingly granular on-line rating tables, with the expectation of achieving a reduction in expenses. While that is no doubt true, what that has also led to is an impersonal relationship between carrier and agent, in an industry that prides itself on individual service.”
Mr. Goldstein concluded, “We believe that our approach leads to long-term high quality relationships and our gaining a larger share of our producers’ business over time. We now enjoy a balanced product mix between personal and commercial lines. Many carriers seek to grow their single or limited offerings solely via an expansion of their distribution channel. We instead have developed a multi-product approach for individuals and small businesses. Our offerings include Homeowners/Dwelling Fire, Commercial Auto, Commercial Liability for Artisans and Business Owners, Personal Umbrella, For-Hire Physical Damage and Canine Legal Liability. We strive to make KICO our select producers’ “Go To” company and carefully select only those producers who value the product mix and relationship that we offer.”
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV