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Kingstone Successfully Sponsors Inaugural $125 Million Catastrophe Bond

KINGSTON, NY / ACCESS Newswire / May 22, 2025 / Kingstone Companies, Inc. (Nasdaq:KINS) (the "Company" or "Kingstone"), a Northeast regional property and casualty insurance holding company, today announced the successful issuance of a $125 million catastrophe bond, marking a significant milestone in the company's strategic risk transfer and capital management initiatives. The catastrophe bond issuance is the first sponsored by the Company's subsidiary, Kingstone Insurance Company.

The Series 2025-1 notes were priced at 4.5% and issued through a Bermuda-registered special purpose insurer, 1886 Re Ltd., providing Kingstone Insurance Company with $125 million of collateralized reinsurance protection. The notes offer multi-year protection against named storm events across New York, New Jersey, Connecticut, Massachusetts and Rhode Island on an indemnity trigger and per-occurrence basis. The notes, which were structured and placed by Aon Securities LLC, will cover four annual risk periods from July 1, 2025, through June 30, 2029.

Meryl Golden, President and Chief Executive Officer of Kingstone, stated, "We are pleased to have sponsored this catastrophe bond issuance, which enhances our access to efficient, diversified capital. This transaction has enabled the Company to secure additional multi-year reinsurance capacity while also helping to manage the overall cost of protection. We are thankful to Aon Securities for their effective execution of the process and to our catastrophe bond investors for their support."

Richard Pennay, CEO of Aon Securities LLC, said, "Aon Securities is honored to have partnered with Kingstone on their inaugural catastrophe bond, issued by 1886 Re Ltd. The support Kingstone received from the global catastrophe bond investor base is a tribute to the company and management team. With this offering, Kingstone has demonstrated its ability to access a diversifying source of risk-transfer protection."

About Kingstone Companies, Inc.

Kingstone is a northeast regional property and casualty insurance holding company whose principal operating subsidiary is Kingstone Insurance Company ("KICO"). KICO is a New York domiciled carrier writing business through retail and wholesale agents and brokers. KICO is actively writing personal lines and commercial auto insurance in New York, and in 2024 was the 12th largest writer of homeowners insurance in New York. KICO is also licensed in New Jersey, Rhode Island, Massachusetts, Connecticut, Pennsylvania, New Hampshire, and Maine.

About Aon Securities

Aon Securities and its associated personnel are subject to a number of regulatory bodies. Aon Securities LLC is a broker-dealer registered with the Securities and Exchange Commission (SEC), all fifty State securities commissions and the Commonwealth of Puerto Rico, the Municipal Securities Rulemaking Board (MSRB), and the Commodity Futures Trading Commission (CFTC). Aon Securities is a member of the Financial Industry Regulatory Authority (FINRA) and National Futures Association (NFA).

Investor Relations Contact:

Karin Daly
Vice President
The Equity Group Inc.
kdaly@equityny.com

SOURCE: Kingstone Companies, Inc.



View the original press release on ACCESS Newswire

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