Kingstone Companies, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2022
March 30, 2023 at 04:15 pm EDT
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Kingstone Companies, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2022. For the fourth quarter, the company reported revenue was USD 37.09 million compared to USD 43.17 million a year ago. Net loss was USD 3.95 million compared to net income of USD 2.23 million a year ago. Basic loss per share from continuing operations was USD 0.37 compared to basic earnings per share from continuing operations of USD 0.21 a year ago. Diluted loss per share from continuing operations was USD 0.37 compared to diluted earnings per share from continuing operations of USD 0.21 a year ago.
For the full year, revenue was USD 130.16 million compared to USD 161.23 million a year ago. Net loss was USD 22.52 million compared to USD 7.38 million a year ago. Basic loss per share from continuing operations was USD 2.12 compared to USD 0.7 a year ago. Diluted loss per share from continuing operations was USD 2.12 compared to USD 0.7 a year ago.
Kingstone Companies, Inc., through its wholly owned subsidiary, Kingstone Insurance Company, operates as a property and casualty insurance company. The Company's property insurance covers the financial consequences of accidental losses to the insured's property, such as a home and the personal property in it, or a business owner's building, inventory and equipment. Casualty insurance (also referred to as liability insurance) covers the financial consequences related to the legal liability of an individual or an organization resulting from negligent acts and omissions that cause bodily injury and/or property damage to a third party. The Company's product lines include personal lines, livery physical damage, and other. Its personal lines consist of homeowners and dwelling fire multi-peril, cooperative/condominiums, renters, and personal umbrella policies. The Company writes for-hire vehicle physical damage only policies for livery and car service vehicles and taxicabs.
KINGSTONE COMPANIES, INC. 
