Kingstone CEO's contract extended to 2026

KINGSTON, NY - Kingstone Companies, Inc. (NASDAQ:KINS), a regional provider of property and casualty insurance, has announced the extension of its CEO Meryl Golden's employment contract through December 31, 2026. The extension comes ahead of the initial term's expiration at the end of 2024.

Barry Goldstein, Chairman of the Board, praised Golden's leadership and strategic initiatives, which have been integral to the company's transformation. The Board's decision reflects their confidence in her vision and ability to guide Kingstone to continued success.

Golden expressed her gratitude for the opportunity to lead the company and her commitment to enhancing its operations, growth, and profitability, aiming to deliver long-term shareholder value.

Kingstone, headquartered in New York, operates primarily through its subsidiary, Kingstone Insurance Company (KICO). KICO provides personal and commercial auto insurance mainly in New York and is licensed in several other Northeastern states.

This announcement is based on a press release statement from Kingstone Companies, Inc.

As Kingstone Companies Inc. (NASDAQ:KINS) solidifies its leadership with the extension of CEO Meryl Golden's contract, a closer look at the company's financial health and performance metrics is essential for investors. According to the latest data from InvestingPro, Kingstone has a market capitalization of $46.67 million, reflecting its size in the regional insurance market. Despite a revenue growth of 10.78% over the last twelve months as of Q4 2023, the company's gross profit margin stands at a slim 1.55%, indicating challenges in profitability. Moreover, the P/E ratio is currently negative at -7.42, which could signal caution to potential investors regarding earnings expectations.

InvestingPro Tips reveal that analysts are concerned about Kingstone's ability to generate profit in the near term, with expectations of a sales decline in the current year. Additionally, the company's short-term obligations exceed its liquid assets, which could pose liquidity risks. On a more positive note, Kingstone has seen a high return over the last year, with a 268.83% price total return, and a strong return over the last three months, at 84.58%. However, it's worth noting that Kingstone does not pay a dividend to shareholders, which may influence investment decisions for those seeking regular income.

For investors looking for a deeper analysis and additional insights on Kingstone Companies, there are more InvestingPro Tips available. Using the coupon code PRONEWS24, investors can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, which includes a comprehensive list of tips to guide investment decisions. Visit InvestingPro for a full suite of metrics and expert insights at https://www.investing.com/pro/KINS.

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