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.
Palm Beach Billionaires Feud Over Who’s Really Protecting the Everglades 
Viewpoint: Why Brokers Have Little to Fear and Everything to Gain From AI 
Ex-CEO, Ex-CFO of Bankrupt AI Company Charged With Fraud 
Electric Bills in Coal Country West Virginia Now Top Mortgage Payments 
