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Kin Insurance grows premium in force 23% as management margin rises
Premium in force climbed to $701.1 million, and gross margin expanded to 95% as baseline operating income reached a record $28.6 million.
Kin Insurance, which manages group reciprocal exchanges writing home and auto coverage in catastrophe-exposed states, reported second-quarter 2026 results showing both growth and sustained profitability at the management company level, according to Insurance Business.
Across Kin's reciprocal exchanges, premium in force rose 23% year over year to $701.1 million, while gross written premium at the exchanges increased 15% to $218.9 million for the quarter. Kin also said total revenue grew 16% to $68 million, with gross margin expanding to 95%.
Baseline operating income, the company's measure of profitability before growth-related spending, reached a record $28.6 million for the quarter, up 14% year over year even as customer acquisition spending increased. Insurance Business noted Kin does not hold underwriting risk the way a standard admitted carrier does, with the reciprocal exchanges holding the risk and collecting premiums, while Kin earns revenue from managing those exchanges.
Kin reported combined adjusted net income of more than $25 million across the managed exchanges and said it bound more policies in June than in any prior month. New written premium reached $59.8 million for the quarter, renewal written premium rose to $159 million, and its bundled auto product scaled, with auto gross written premium hitting $10 million for the quarter and rising to more than $13 million by August 10.