Kingstone Announces Inaugural $125 Million Catastrophe Bond Issuance

Kingstone Companies, Inc., a property and casualty insurance holding company based in the Northeast, has successfully issued a $125 million catastrophe bond. This marks a key development in Kingstone's risk transfer and capital management strategies. The bond is the first sponsored by Kingstone Insurance Company, a subsidiary of the firm.

The Series 2025-1 notes were priced at 4.5% and issued through a special purpose insurer, 1886 Re Ltd., based in Bermuda. They provide Kingstone Insurance Company with collateralized reinsurance protection worth $125 million. The notes protect against named storm events in New York, New Jersey, Connecticut, Massachusetts, and Rhode Island.

Meryl Golden, CEO of Kingstone, expressed satisfaction with the bond issuance. The transaction enhances access to diversified capital and provides multi-year reinsurance capacity, assisting in managing protection costs. Aon Securities LLC was involved in structuring and placing the notes.