Reinsurance News
Kin Insurance
Kin reports $495m GWP for 2024 as operating income rises 126%
28th February 2025
Kin, the direct-to-consumer home insurer, closed 2024 with $495.3 million in gross written premiums and $156.1 million in total revenue, as operating income for the year hit $12 million, representing a 126% increase over the prior year. The two Kin-managed reciprocal exchanges posted an adjusted loss ratio, net of catastrophe excess ... Read the full article
Kin increases size of reinsurance program at favorable economic terms
11th June 2024
The Kin Interinsurance Network and Kin Interinsurance Nexus Exchange, the reciprocal exchanges managed by Kin Insurance, Inc., have completed their natural catastrophe reinsurance programs for the 2024 storm season, securing more coverage than last year. For 2024-2025, the Florida reinsurance program provides $1 billion in coverage for natural catastrophes, representing protection ... Read the full article
Kin records $344m GWP in FY23 results, total revenue hits $104m
16th February 2024
Kin, the direct-to-consumer home insurance company, has posted $344.1 million in gross written premium (GWP) in their full year 2023 results, representing 51% year-over-year (YoY) growth. Total revenue for FY23 sat at $104.5 million, which represented 53% YoY growth compared to 2022's $68.2 million. The company also posted an operating income of ... Read the full article
Kin raises $15m in financing from new investor, Activate Capital
6th February 2024
Kin, the digital, direct-to-consumer home insurance organisation, has announced the closing of $15 million in financing from new investor Activate Capital, a growth-stage VC firm that is heavily focused on the sustainable, resilient transformation of the global economy. Kin noted that the investment was made at an increased valuation “greater than $1 ... Read the full article
Kin posts $77.8m GWP in Q3, total revenue hits $24.2m
13th November 2023
Kin, the direct-to-consumer home insurance company, has posted $77.8 million in gross written premium and $24.2 million in total revenue for the third quarter of 2023. This compares to last year's GWP of $47,7 million and $14.8 million total revenue, respectively. The company's said that it's operating income remains positive at $11.0 ... Read the full article
Kin secures $33m in Series D extension funding
14th September 2023
Kin, the direct-to-consumer home insurance company, has announced the closing of a $33 million Series D extension. QED Investors led this funding along with returning investors like Geodesic Capital, Allegis Capital, Hudson Structured Capital Management Ltd. (doing its reinsurance business as HSCM Bermuda), and Alpha Edison. Kin has now raised approximately $265 ... Read the full article
Kin’s Q2’23 GWP soars to $109.7 million, marking 55% year-on-year increase
10th August 2023
Kin Insurance has reported a gross written premium (GWP) of $109.7 million for the second-quarter of 2023, up 55% from the year-ago $70.8 million. Kin’s positive operating income nearly doubled to $8.6 million in the second quarter of 2023, driven by disciplined expense management and an ever-increasing renewal base. Kin’s premium renewal ... Read the full article
Kin announces expansion into catastrophe-prone Arizona
14th July 2023
Kin, a direct-to-consumer home insurance firm has expanded its presence into Arizona, bringing home and property insurance to the state. This marks Kin’s first move into the US Southwest - where the housing boom is contending with climate risk - and it builds upon the insurtech’s growth and success in coastal, ... Read the full article
Kin expands its presence into Alabama
13th June 2023
Kin, a direct-to-consumer home insurance firm has expanded its presence into Alabama. The state of Alabama is ranked fourth in the United States for tornadoes, large hail, and damaging wind reports. At the same time, the state's position near the coast also leaves its residents susceptible to record-breaking natural disasters such as ... Read the full article
Kin completes $860 million nat cat reinsurance program
25th May 2023
Homeowners insurtech Kin Insurance has announced the successful completion of its reinsurance program for the Kin Interinsurance Network in Florida. The program, covering the period from June 1, 2023, to May 31, 2024, offers extensive coverage of $860 million for natural catastrophes. This reinsurance initiative provides protection up to a one-in-200 year ... Read the full article
Kin’s Q1’23 GWP soars to $83.2 million, marking a 54% year-on-year increase
18th May 2023
Kin Insurance has reported a gross written premium (GWP) of $83.2 million for the first-quarter of 2023, up 54% from the year-ago $54.1 million. The GPW was positively impacted by $33.5 million in new bound premium, Kin said. Kin’s positive operating income jumped to $4.4 million, which was anchored by disciplined expense ... Read the full article
Home insurer Kin announces expansion into Mississippi
12th April 2023
Kin, a direct-to-consumer digital home and property insurer, has announced its expansion into Mississippi, a state that has been hit by a fair number of powerful tornadoes due to its location. In 2022, Mississippi was hit with 184 tornadoes and ranked third in the nation for tornado activity. Additionally, Mississippi has ... Read the full article
Kin secures $100m of Florida named storm reinsurance via second cat bond
6th April 2023
Kin Insurance, a direct-to-consumer home insurance company, closed a $100 million private placement catastrophe bond transaction, bringing Hestia Re Ltd.’s total outstanding limit to $275 million. Kin Interinsurance Network has secured a new reinsurance agreement with Hestia Re., a newly established special purpose insurer in Bermuda, that will cover indemnity-based losses ... Read the full article
Kin increases Series D round to $109mn
23rd March 2023
Kin, a direct-to-consumer home insurance company has announced that it has conducted a third close, an incremental $15 million, to its Series D round in the fourth quarter of 2022. The company confirmed that the investment came from Geodesic Capital, QED Investors, and additional investors, bringing the total Series D funds ... Read the full article
Kin Insurance reports 117% rise in GWP in full-year results
17th February 2023
Homeowners insurtech Kin Insurance has reported gross written premium (GWP) of $227.5 million in its full-year results, representing a 117% increase in year-over-year growth from 2021’s $104.8 million. Gross profit for the full-year was $68.2 million, which represents 130% growth compared to $29.6 million from 2021. Adjusted loss ratio on the Kin ... Read the full article
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