Earnings Call Summary | Kingstone(KINS.US) Q4 2023 Earnings Conference
Earnings Call Summary | Kingstone(KINS.US) Q4 2023 Earnings Conference
The following is a summary of the Kingstone Companies, Inc. (KINS) Q4 2023 Earnings Call Transcript:
以下是金斯通公司（KINS）2023年第四季度業績電話會議記錄摘要：
Financial Performance:
財務業績：
Kingstone reported a net income of $2.9 million or $0.26 per diluted share, marking a significant rise from last year's loss.
The company experienced a 7.1% growth in direct premium for its core business but witnessed a 40.8% decline for non-core business.
Improvement in the combined ratio to 89.5% was due to strong underwriting results and decreased catastrophe losses.
The 2024 guidance anticipates a 12-16% YoY growth in core business direct written premium, a GAAP combined ratio between 88 and 92, earnings per diluted share between $0.50 and $0.90, and return on equity between 15% and 22%.
金斯通公佈的淨收益爲290萬美元，攤薄後每股收益爲0.26美元，較去年的虧損大幅上升。
該公司的核心業務的直接保費增長了7.1％，但非核心業務的直接保費下降了40.8％。
合併比率提高至89.5％，這是由於強勁的承保業績和災難損失的減少。
2024年的指引預計，核心業務直接承保溢價將同比增長12-16％，GAAP合併比率在88至92之間，攤薄後每股收益在0.50美元至0.90美元之間，股本回報率在15％至22％之間。
Business Progress:
業務進展：
Kingstone plans to reduce its non-core policies by 80% by the end of 2024, expecting the non-core premium and policies in force to decline by 40% and 48% respectively by the end of December 2023.
The company obtained regulatory approval to exit from New Jersey, aligning with its strategic plan.
Kingstone enhanced its product offering and underwriting capabilities through a partnership with insure tech firm, Zojacks.
After executing strategies to return to profitability, the company achieved a return on equity of 9.7% in Q4.
Kingstone forecasts a 29% net expense ratio in 2024, indicating further improvement in this area.
金斯通計劃到2024年底將其非核心保單減少80％，預計到2023年12月底，非核心保費和現行保單將分別下降40％和48％。
該公司已獲得監管部門批准退出新澤西州，這與其戰略計劃一致。
金斯通通過與保險科技公司Zojacks的合作增強了其產品供應和承保能力。
在執行了恢復盈利的策略後，該公司在第四季度實現了9.7％的股本回報率。
金斯通預測，2024年的淨支出比率爲29％，這表明該領域將進一步改善。
More details: Kingstone IR
更多詳情： 金斯通紅外
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
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譯文內容由第三人軟體翻譯。