Kingstone Companies Sees Prelim. Q1 2024 Net Premiums Earned $28.8M, Up 2.0% YoY; Net Premiums Earned From Non-Core Business Down 49% From $4.5M To $2.3M YoY
Portfolio Pulse from Benzinga Newsdesk
Kingstone Companies reports a preliminary Q1 2024 net premiums earned of $28.8M, marking a 2.0% increase year-over-year. However, net premiums earned from non-core business saw a significant decrease of 49%, dropping from $4.5M to $2.3M compared to the same period last year.
April 29, 2024 | 12:40 pm
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NEUTRAL IMPACT
Kingstone Companies reports a 2.0% increase in net premiums earned to $28.8M for Q1 2024, with a decline in non-core business premiums by 49% YoY.
The increase in net premiums earned indicates growth in Kingstone's core business, which could be viewed positively by investors. However, the significant decrease in premiums from non-core business might raise concerns about the overall diversification and health of the company's revenue streams. The mixed results present a neutral outlook for the stock in the short term, as investors weigh the growth against potential vulnerabilities.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90