Reinsurance News
Kin Insurance
Kin launches home & property insurance offering in South Carolina
18th January 2023
Digital insurer, Kin has announced its expansion into South Carolina. The insurer is set to enter the US state, where it will offer a seamless way for homeowners and landlords to protect their most valuable assets, despite being exposed to several risks. South Carolina’s proximity to the Atlantic Coast makes it extremely ... Read the full article
Kin’s second reciprocal exchange gets Demotech A rating
11th January 2023
Kin Insurance, a US insurtech and primary carrier focused on home insurance for catastrophe-exposed areas, has announced that financial analysis firm Demotech has assigned an FSR of A, Exceptional, to the Kin Interinsurance Nexus. The Kin Interinsurance Nexus is Kin’s second reciprocal exchange and utilises a direct-to-consumer model and efficient technology ... Read the full article
Kin Insurance reports 72% GWP increase in Q3
9th November 2022
Kin Insurance has reported a gross written premium (GWP) of $47.6 million in the third quarter of 2022, a 72% increase compared to $27.7 million from the third quarter of 2021. This now brings the company’s GWP year-to-date total to $172.5 million. Gross profit for the quarter was $14.8 million, a major ... Read the full article
Kin names leadership team additions to fuel next stage of growth
4th November 2022
Kin Insurance, a US insurtech focused on home insurance, has announced several leadership appointments as the company enters its next phase of growth, including Jerry Fadden, CFO; Jessica Jacob, CLO; Effie Kyroudis, CHRO; and Pete Tiwari, SVP of Product. Sean Harper, CEO of Kin commented on the new appointments, stating, “Over ... Read the full article
Kin receives $145mn in debt financing
31st October 2022
Growing homeowners insurtech company, Kin, has announced the closing of a $145 million committed credit facility. The facility, which was led by Runway Growth Capital LLC and the Avenue Venture Opportunities Fund, L.P. will provide Kin with additional capital to support the expansion of the Kin Interinsurance Network, a reciprocal exchange. Runway ... Read the full article
Kin says Hurricane Ian loss to remain within reinsurance tower
21st October 2022
Kin Insurance, a US insurtech and primary carrier focused on home insurance for catastrophe-exposed areas, has reported that its gross loss from Hurricane Ian will remain “well below” the top of its $800 million overall reinsurance tower. To date, Kin has received approximately 6,800 claims related to Hurricane Ian. But thanks to ... Read the full article
Kin reports strong rise in GWP in Q2 results
2nd August 2022
Kin Insurance has reported a gross written premium (GWP) of $70.8 million in the second quarter of 2022, a major increase from the $24.7 million the company reported in the prior-year period. This now brings the company’s GWP year-to-date total to $125 million. Gross profit for the quarter was $20.6 million, a ... Read the full article
Kin enhances 2022 reinsurance program
6th June 2022
Kin Insurance has announced that Kin Interinsurance network, its reciprocal insurance carrier, has finalised its reinsurance program for the period of June 1, 2022 through May 31, 2023. The upgraded reinsurance program - which will apply to all states and policies within the Kin Interinsurance Network - offers 160 year first-event ... Read the full article
Kin Insurance reports strong Q1 as total written premium grows by 230% YoY
6th May 2022
Kin Insurance has reported a gross written premium (GWP) of $54.1 million for Q122, over three times more than the $16.4 million GWP the company reported in the prior-year period. $52.9 million (98%) of the GWP in Q122 was written through the Kin Interinsurance Network – a reciprocal exchange manged by ... Read the full article
Kin secures $175m in first cat bond issuance
19th April 2022
Kin Insurance, a US insurtech and primary carrier focused on home insurance for catastrophe-exposed areas, has closed a $175 million private placement catastrophe bond transaction. The transaction represents Kin’s first foray into the capital markets, with the coverage set to provide the Kin Interinsurance Network with indemnity-based coverage for large hurricanes ... Read the full article
Kin raises further $82m in funding
4th March 2022
Kin Insurance, a US insurtech and primary carrier focused on home insurance for catastrophe-exposed areas, has raised $82 million in the first close of its Series D funding round, with additional commitments for a second close totalling $18 million. The funding was led by QED Investors with participation from returning investors ... Read the full article
Kin and SPAC terminate planned merger amid unfavourable market conditions
27th January 2022
The proposed business combination agreement between insurtech Kin Insurance and Omnichannel Acquisition Corp., a special-purpose acquisition company (SPAC), has been terminated due to "current unfavourable market conditions." It was revealed in July of 2020 that Kin, a direct-to-consumer homeowners insurance technology company, intended to go public via a $1 billion ... Read the full article
Kin sees premium surge through 2021
21st January 2022
Kin Insurance, a US insurtech and primary carrier focused on home insurance for catastrophe-exposed areas, has reported that its total managed premium increased by more than four times during 2021. The company finished the year with $104.8 million in total managed premium, compared with $25.0 million at the end of 2020. Around ... Read the full article
Kin expands US reach with carrier takeover
15th December 2021
Kin Insurance, a direct-to-consumer homeowners insurance technology company, has greatly expanded its reach in the US market with the completion of its acquisition of an inactive insurance carrier that holds licenses in 43 states. For Kin, which currently operates in only Florida, Louisiana and California, the deal enables it to serve customers ... Read the full article
Kin Insurance reports $11.3mn in Total Managed Premium in November
13th December 2021
Kin Insurance has announced select preliminary operating results through November 30, 2021, reporting its total Managed Premium increased to $90.7 million year-to-date through November 30, 2021, over four times the $21.2 million of Total Managed Premium for the same prior year period. The insurer also reported $11.0 million of Total Managed ... Read the full article
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