Kingstone Companies
| Company type | Public |
|---|---|
| Industry | Insurance, Financial services |
| Founded | 1886 |
| Headquarters | Kingston, New York , United States |
| Products | Property and casualty insurance, contract financing services |
Kingstone Companies, Inc., based in Kingston, New York, provides property and casualty insurance products through its subsidiary, Kingstone Insurance Company. Additionally, it offers contract financing services via its subsidiary Payments, Inc., which holds a license as an Insurance Premium Finance Company in New York State. In the 2010 Professional Insurance Agents Association Company Performance Survey, Kingstone Insurance Company was recognized as the top performer among 81 insurers. The firm distributes personal lines, general liability, and commercial auto insurance policies through a network of independent retail and wholesale agents and brokers.
History
Established in 1886 in Kingston, New York.
Operation
In December 2013, Kingstone announced a public offering of 2.5 million common shares underwritten to bolster its insurance subsidiary. For the third quarter of 2020, the company disclosed pre-tax disaster-related losses net of reinsurance estimated between $8.5 million and $9 million.
On August 11, 2020, Kingstone Companies, Inc. announced that the U.S. District Court for the Southern District of New York rejected a motion by the defendant to dismiss the amended shareholder class action lawsuit originally filed in 2019 against the company and several current and former executives and directors.