Kingstone Companies Appoints New Director
Ticker: KINS · Form: 8-K · Filed: Jun 20, 2024 · CIK: 33992
Sentiment: neutral
Topics: board-appointment, governance, insurance
TL;DR
Kingstone adds insurance vet Thomas Newgarden to its board.
AI Summary
Kingstone Companies, Inc. announced on June 14, 2024, the appointment of Thomas Newgarden to its Board of Directors. Mr. Newgarden brings extensive experience in the insurance industry, having previously served as Chief Executive Officer of United Educators and as a director for various insurance companies. His appointment is expected to enhance the company's strategic direction and governance.
Why It Matters
The addition of a new director with relevant industry experience can signal a strategic shift or a strengthening of the board's oversight, potentially impacting the company's future performance and investor confidence.
Risk Assessment
Risk Level: low — The filing reports a routine board appointment, which typically carries low inherent risk.
Key Players & Entities
- Kingstone Companies, Inc. (company) — Registrant
- Thomas Newgarden (person) — Appointed Director
- United Educators (company) — Previous employer of Thomas Newgarden
- June 14, 2024 (date) — Date of earliest event reported
FAQ
What is the effective date of Thomas Newgarden's appointment?
The earliest event reported in the filing is dated June 14, 2024, which is the effective date of the appointment.
What is Thomas Newgarden's prior experience relevant to Kingstone Companies?
Thomas Newgarden previously served as Chief Executive Officer of United Educators and has experience as a director for various insurance companies.
What is the primary business of Kingstone Companies, Inc.?
Kingstone Companies, Inc. operates in the FIRE, MARINE & CASUALTY INSURANCE industry.
In which state is Kingstone Companies, Inc. incorporated?
Kingstone Companies, Inc. is incorporated in Delaware.
What is the CIK number for Kingstone Companies, Inc.?
The Central Index Key (CIK) number for Kingstone Companies, Inc. is 0000033992.
Filing Stats: 747 words · 3 min read · ~2 pages · Grade level 11.8 · Accepted 2024-06-18 17:36:03
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value per share KINS NASDAQ Cap
Filing Documents
- kins8k.htm (8-K) — 26KB
- ex99_1.htm (EX-99.1) — 1KB
- kinspr_1.jpg (GRAPHIC) — 782KB
- kinspr_2.jpg (GRAPHIC) — 510KB
- 0001021771-24-000144.txt ( ) — 1940KB
- kins-20240614.xsd (EX-101.SCH) — 4KB
- kins-20240614_lab.xml (EX-101.LAB) — 22KB
- kins-20240614_pre.xml (EX-101.PRE) — 16KB
- kins8k_htm.xml (XML) — 4KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (d) Effective as of June 14, 2024, Thomas Newgarden was appointed a director of Kingstone Companies, Inc. (the "Company"). Mr. Newgarden is an analytics driven insurance executive with over 30 years' experience in the property and casualty personal lines insurance industry. He played an instrumental role in the acquisition and rehabilitation of National General Insurance (formerly GMAC Insurance). This included serving from 2010 to 2022 as Executive Vice President, Chief Underwriting Officer, Chief Product and Analytics Officer and Chief Business Development Officer, and President of National General Preferred, culminating in the successful sale of the company to Allstate Insurance. Prior to National General, Mr. Newgarden was Vice President and Chief Underwriting Officer at Plymouth Rock Insurance from 2009 to 2011,Senior Vice President of Personal Lines at Safeco Insurance from 2008 to 2009 and Senior Vice President and Chief Underwriting Officer at AIG Private Client Group. Since leaving Allstate in 2022, Mr. Newgarden has primarily worked as a consultant and advisor to insurance carriers and other insurance entities. He received his B.A. degree in Economics from Binghamton University.
01
Item 7.01 Regulation FD Disclosure . On June 18, 2024, the Company issued a press release (the "Press Release") announcing the appointment of Mr. Newgarden to the Board of Directors of the Company. A copy of the Press Release is furnished as Exhibit 99.1 hereto. The information in the Press Release is being furnished, not filed, pursuant to this Item 7.01. Accordingly, the information in the Press Release will not be incorporated by reference into any registration statement filed by the Company under the Securities Act unless specifically identified therein as being incorporated therein by reference. The furnishing of the information in this Current Report on Form 8-K with respect to the Press Release is not intended to, and does not, constitute a determination or admission by the Company that the information in this Report with respect to the Press Release is material or complete, or that investors should consider this information before making an investment decision with respect to any security of the Company.
Financial Statements and Exhibits
Financial Statements and Exhibits . (d) Exhibits . 99.1 Press release, dated June 18, 2024, issued by Kingstone Companies, Inc. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: June 18, 2024 By: /s/ Meryl Golden Meryl Golden Chief Executive Officer