Kin Insurance has increased the size of its Florida reinsurance tower by 40% at the mid-year renewals, securing $1.4 billion of limits for that state, while its reinsurance coverage for other states (ex-CA) it operates in grew even more to surpass $250 million in limits.Insurtech underwriting company Kin Insurance has been growing through the expanding operations of its Kin Interinsurance Network and Kin Interinsurance Nexus Exchange, the two reciprocal exchanges it manages.Earlier this year, , with the $300 million Hestia Re Ltd.(Series 2025-1) transaction now a core component of its Florida-focused hurricane reinsurance protection for the coming season and it will remain in-force for the next two seasons after that as well.

In addition to that, Kin also has $100 million of reinsurance still in-force from its , so giving the company $400 million of cat bond risk capital outstanding at this time all of which sits in the Florida reinsurance tower providing named storm protection.Kin said that in securing the rest of its reinsurance arrangements for the next year, they reflect its “unwavering commitment to robust risk management and financial stability as it continues its rapid market expansion.” The company also said that the reinsurance renewal was “secured at favorable economic terms.” All of its reinsurance coverage levels significantly exceed the relevant regulatory requirements, Kin explained.The $1.4 billion of renewed Florida catastrophe reinsurance is a 40% uplift from .

For other states, but excluding California, Kin now cites over $250 million of catastrophe reinsurance protection, so at least a 79% increase on the $140 million from the prior year.However, the company still has coverage in California, but just does not cite an amount, saying, this provides additional “targeted protection against severe seismic events and wildfires, ensuring robust financial backing for policyholders in this high-risk region.” Kin Chief Insurance Officer, Angel Conlin, explained, “We are incredibly pleased to have successfully completed our annual reinsurance placement with such strong support from our long-standing partners.This consistent backing is a testament to the effectiveness of our data-driven underwriting, and our proven ability to handle claims responsively, especially in the face of evolving climate risks.

It further validates our unique approach to managing catastrophe exposure and reinforces our financial strength.” The 2025 reinsurance renewal saw Kin transacting with a panel of 44 reinsurers, each A- rated or higher by AM Best or 100% collateralized, while the insurer is also now supported by 29 catastrophe bond investors.Kin said this broad access to reinsurance capital reflects, “deep confidence in Kin’s underwriting capabilities.” , the vast majority of principal from Kin’s $175 million Hestia Re Ltd.(Series 2022-1) catastrophe bond that had been threatened by loss activity is now expected to be returned to investors at the upcoming risk period end, while just $5 million will be retained with an extended maturity date.

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