Reciprocals managed by Kin publish second quarter results

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

Kin Interinsurance Network, which primarily writes in Florida, reported $235.3 million in written premiums for the first six months of the year, a 24% increase compared to the same period last year. The reciprocal recorded a net underwriting loss of $21.2 million, a 47% decrease compared to the same period last year.

Based on our analysis, combined ratio was 154% for the first six months of the year, a significant improvement compared to a combined ratio of 382% for the first six months of 2023.

Kin Interinsurance Nexus Exchange, which was active in AL, AZ, GA, MS, SC, TX, and VA, reported $26.6 million in written premiums. Net underwriting loss stood at $2.3 million and combined ratio was 107%.