Kingstone Companies, Inc., a multi-line property and casualty insurance company focused on New York and surrounding northeast areas of the US, has added back a quota share reinsurance arrangement to cover its personal lines business for 2022.A year ago, a 25% personal lines quota share reinsurance treaty for Kingstone Insurance Company was cancelled, as Kingstone said that improved profitability at the company meant this was no longer needed.By cutting the 25% quota share for 2021, Kingstone was hoping to retain more of the profitability of its insurance underwriting, but a year down the line it has now procured a 30% quota share, so a larger reinsurance cover.Now, Kingstone Insurance Company has reinstated this cover, securing a 30% personal lines quota share reinsurance arrangement that will run from December 31st 2021 through December 31st 2022.

On top of this, Kingstone has also added a new layer to its excess-of-loss (XoL) reinsurance tower at the January 2022 renewals, specifically adding coverage to the Single Risk treaty.Through the quota share reinsurance arrangement Kingstone will be hoping to build its business with the support of reinsurance partners, while the new treaty layer will be designed to reduce volatility from larger losses.“The new treaties, when taken together, result in reductions to our catastrophe and single-risk retentions through June 30, 2022 to $7.4 million and $0.5 million from $10.0 million and $1.0 million, respectively,” Meryl Golden, President of KICO explained.

“The quota share benefits us further by increasing our statutory surplus leading to a reduction in premium leverage going into 2022 and allowing for continued written premium growth,” Golden added., which was $15 million more than it had secured in 2020.Kingstone’s mid-year renewal reinsurance tower had been $603 million in size in 2019.———————————————————————.

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