Kingstone Companies, Inc. (NASDAQ:KINS) Q3 2023 Earnings Call Transcript

And we are seeing claims inflation in our numbers. And in addition to that, as Jen mentioned, we have had an increase in the number of large losses this year. It’s something we saw in every one of the quarters, and we’re trying to figure out what is driving that. We have relooked at everything. We even hired an outside firm to take a look. And we really found nothing. And I’ve talked with others in the industry. And I’m hearing that they’re seeing the same thing as well. But at the end of the day, we have now priced for this increased severity in our product, and so that, along with the decline in frequency, will result in a better loss ratio next year.

Unidentified Participant: Jennifer, thanks for giving us the yield on the bond portfolio. What is the average maturity of our bond portfolio now?

Jennifer Gravelle: 4.3 years.

Operator: This concludes our question-and-answer session. I would like to turn the floor back over to Meryl Golden for closing comments.

Meryl Golden: Great. Thanks for joining us bright and early on Monday morning and have a fantastic day.

Operator: This concludes today’s teleconference. You may disconnect your lines at this time. Thank you for your participation.