Reinsurance News
Kin Insurance
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
Kin Insurance reports improved Adjusted Loss Ratio for Q3
11th November 2021
Kin Insurance has reported that through the third quarter of 2021, its adjusted loss ratio decreased to 89.8% from 107.4% for the same prior year period. Hurricane Ida contributed 25.4% to the adjusted loss ratio, with other PCS catastrophe events contributing 8.9%. Non-cat adjusted loss ratio of 55.5% has decreased each of ... Read the full article
Kin offers greater protection in upgraded reinsurance program
19th August 2021
Kin Insurance, a US insurtech and primary carrier focused on home insurance for catastrophe-exposed areas, has upgraded its reinsurance program to offer greater disaster protection. The insurer, which is currently backed 42 blue chip reinsurers, supports and manages risks for homeowners who are most exposed to the mounting impact of climate ... Read the full article
Kin Insurance raises $63.9mn in Series C funding round
11th May 2021
Kin Insurance, a US insurtech and primary carrier focused on home insurance for catastrophe-exposed areas, has raised $63.9 million in a Series C funding round, according to Crunchbase News. Kin last raised money with a $23 million Series B last summer, and is backed by investors which include August Capital and ... Read the full article
Kin Insurance surpasses $100m in annual recurring premium
20th April 2021
Kin Insurance, a US insurtech and primary carrier focused on home insurance for catastrophe-exposed areas, has surpassed $100 million in annual recurring premium. The milestone comes after only 21 months as a carrier, and with $52 million in equity funding. Notably, Kin’s growth has been achieved through a direct-to-consumer business model. This ... Read the full article
Kin Insurances reaches $10bn insured property value
19th February 2021
Kin Insurance, a US insurtech and primary carrier focused on home insurance for catastrophe-exposed areas, has surpassed $10 billion in total insured property value. The company saw a 400% increase in direct written premiums in Q4 2020 over the previous year, and enjoyed a 92% renewal acceptance rate. “Kin’s growth is evidence ... Read the full article
Kin Insurance enters California to relieve wildfire strain
2nd October 2020
Kin Insurance, a US insurtech and primary carrier focused on home insurance for catastrophe-exposed areas, has announced it will begin serving homeowners throughout California. The expansion comes in response to the state’s recent increase in wildfire activity and the strain it has created for many homeowners. Kin notes that, in 2018, insurance ... Read the full article
Kin partners with Snapsheet on end-to-end claims management
4th September 2020
Digital claims management company, Snapsheet, has announced a new partnership with InsurTech firm, Kin Insurance. After a successful $35 million Series B funding round, Kin agreed to partner with Snapsheet to enable an automated digital experience, omnichannel engagement, and end-to-end claims management from electronic first notice of loss (FNOL) through settlement. Using ... Read the full article
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