Reciprocals managed by Kin publish first quarter results

Kin Interinsurance Network and Kin Interinsurance Nexus Exchange, the reciprocals managed by Kin Insurance, published their financial results for the first quarter of the year.

Kin Interinsurance Network, which primarily writes in Florida, reported $118.6 million in written premiums for the quarter, a 17% increase compared to the same period last year. The reciprocal had a net underwriting loss of $8.2 million, a 29% decrease compared to the same period last year. The reciprocal requires a 10% surplus contribution from subscribers, which stood at $12.7 million during the quarter.

Kin Interinsurance Nexus Exchange, which was active in AL, AZ, GA, MS, SC, TN, TX, and VA, reported $24 million in written premiums, up from $10.4 million in Q1 2024. Net underwriting loss stood at $4.9 million, compared to $1 million in Q1 2024. Subscribers contributed $2.4 million during the quarter.