KINGSTONE COMPANIES, INC.
For the period ended Dec 31, 2024. Filed Mar 18, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 18, 2025
KINS$22.74+3.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets as of December 31, 202 and
Consolidated Balance Sheets
| December 31,2024 | December 31,2023 | |
|---|---|---|
| Assets | ||
| Fixed-maturity securities, held-to-maturity, at amortized cost (fair value of $5,959,265 at December 31, 2024 and $6,106,148 at December 31, 2023) | $7,047,342 | $7,052,541 |
| Fixed-maturity securities, available-for-sale, at fair value (amortized cost of $202,308,158 at December 31, 2024 and $164,460,942 at December 31, 2023) | 186,893,438 | 148,920,797 |
| Equity securities, at fair value (cost of $13,527,554 at December 31, 2024 and $17,986,783 at December 31, 2023) | 10,296,505 | 14,762,340 |
| Other investments | 4,380,656 | 3,897,150 |
| Total investments | 208,617,941 | 174,632,828 |
| Cash and cash equivalents | 28,669,441 | 8,976,998 |
| Premiums receivable, net of allowance for credit losses of $402,290 at December 31, 2024 and $268,617 at December 31, 2023 | 21,766,988 | 13,604,808 |
| Reinsurance receivables, net | 69,322,436 | 75,593,912 |
| Deferred policy acquisition costs | 24,732,371 | 19,802,564 |
| Intangible assets | 500,000 | 500,000 |
| Property and equipment, net | 9,283,970 | 9,395,697 |
| Deferred income taxes, net | 5,597,920 | 10,551,819 |
| Other assets | 6,424,776 | 4,574,584 |
| Total assets | $374,915,843 | $317,633,210 |
| Liabilities | ||
| Loss and loss adjustment expense reserves | $126,210,428 | $121,817,862 |
| Unearned premiums | 134,701,733 | 105,621,538 |
| Advance premiums | 3,503,063 | 3,797,590 |
| Reinsurance balances payable | 10,509,121 | 12,837,140 |
| Deferred ceding commission revenue | 11,541,239 | 9,460,865 |
| Accounts payable, accrued expenses and other liabilities | 10,570,388 | 4,350,546 |
| Debt, net (Current $6,849,257 and long-term $4,322,163 at December 31, 2024 and current $19,580,109 and long-term $5,663,421 at December 31, 2023) | 11,171,420 | 25,243,530 |
| Total liabilities | 308,207,392 | 283,129,071 |
| Commitments and Contingencies (Note 17) | ||
| Stockholders' Equity | ||
| Preferred stock, $0.01 par value; authorized 2,500,000 shares | - | - |
| Common stock, $0.01 par value; authorized 20,000,000 shares; issued 14,448,205 shares at December 31, 2024 and 12,248,313 shares at December 31, 2023; outstanding 12,924,080 shares at December 31, 2024 and 10,776,907 shares at December 31, 2023 | 144,482 | 122,483 |
| Capital in excess of par | 89,063,326 | 75,338,010 |
| Accumulated other comprehensive loss | (12,175,476) | (12,274,563) |
| Accumulated deficit | (4,755,874) | (23,114,310) |
| 72,276,458 | 40,071,620 | |
| Treasury stock, at cost, 1,524,125 shares at December 31, 2024 and 1,471,406 shares | ||
| at December 31, 2023 | (5,568,007) | (5,567,481) |
| Total stockholders' equity | 66,708,451 | 34,504,139 |
| Total liabilities and stockholders' equity | $374,915,843 | $317,633,210 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.