Upstate New York insurer Kingstone Cos. Inc., posted a $259,000 profit in the first quarter of 2010 — a positive change from the $171,000 loss it saw in the year-ago period.
The insurer — which was launched last year through a merger of Commercial Mutual Insurance Co. and the former DCAP Group, an agency franchiser — said March storms cost about $250,000, which added over 11.3 percentage points to its net loss ratio.
Kingstone said that, despite the storms, its combined ratio was 62.6.
Topics Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
Married Massachusetts Insurance Brokers Plead Guilty to Defrauding Clients of $750K 
Public Adjuster Accused of Swiping $600,000 in Hurricane Ian Insurance Payments 
Taylor Swift Sued for Trademark Infringement Over ‘Life of a Showgirl’ 
