Kin grows 54% year-over-year, eclipses $83M in gross written premium in Q1

New business growth and renewal book have Kin poised to achieve 2023 goals

CHICAGO, IL – May 18, 2023 – Kin, the direct-to-consumer home insurance company built for every new normal, today announced select operating results through the first quarter ended March 31, 2023.

Kin finished the first quarter of 2023 with $83.2 million in gross written premium, which was positively impacted by $33.5 million in new bound premium - a 74% increase in production over the fourth quarter of 2022. Kin’s positive operating income jumped to $4.4 million, which was anchored by disciplined expense management and a strong renewal book. Kin’s premium renewal rate of 116% was a 14% improvement over the prior-year period.

“Our first quarter results were strong across the board. We broke all-time records for new business conversion and premium growth, and our unit economics continue to be ‘best in class’ with CAC and payback periods at near historical lows,” said Sean Harper, CEO of Kin. “We’ve also tripled our geographic footprint in the span of six months and are scaling all of our markets quickly and efficiently, putting us on the path to deliver $370+ million in total premium in 2023.”

In addition to exceeding its production goals, Kin has remained focused on driving down its adjusted loss ratio and ensuring its reciprocal exchanges are financially secure. Through the first quarter of 2023, Kin’s adjusted loss ratio, net of XOL recoveries, decreased to an all-time low of 20.1%. Non-cat adjusted loss ratio was 17.3% through the first quarter of 2023, and has decreased on an inception basis each of the last nine quarters.

"Given the geographic distribution of our exposure, the first quarter tends to have lower loss ratios, due to milder weather conditions and non-weather related loss activity,” said Angel Conlin, chief insurance officer at Kin. “That said, we continue to outperform the average combined loss ratio for the U.S. homeowners industry due to our accurate pricing and risk selection. We’re in a great position to achieve our loss ratio goals and growth targets, even heading into hurricane season.”

Kin's mission is to re-engineer insurance to be cost-effective and superior through every step of the journey, including purchasing, servicing, and claims, especially for the geographies that need it most. In 2023, Kin has already launched three new markets - South Carolina, Mississippi, and Alabama - and plans to launch several more in the coming months. Notably, Kin generated $5.5 million in new bound premium outside of Florida in the first quarter of 2023, nearly three times more than its quarterly target. 

About Kin

Kin is the only pure-play, direct-to-consumer digital insurer focused on the growing homeowners insurance market. Kin makes homeowners insurance more convenient and affordable by eliminating the need for external agents. Kin’s technology platform delivers a seamless user experience, customized options for coverage, and fast, high-quality claims service. Behind the scenes, Kin utilizes thousands of data points about each property to provide accurate pricing and produce better underwriting results. Kin is a fully licensed carrier that offers coverage through its reciprocal exchanges which are owned by its customers. To learn more, visit


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