Expansion into Auto Insurance and Home Financing Positions Kin for Strong Future Growth

CHICAGO, Feb. 23, 2026 /PRNewswire/ -- Kin, the direct-to-consumer digital home and auto insurance, and home finance provider, today announced operating results for the fourth quarter and full year ended December 31, 2025. 

Kin delivered robust growth in 2025, ending the year with $634.4 million in Gross Written Premium, and Total Revenue of $201.6 million, an increase of 29% over 2024 revenue. This top-line growth, combined with ever-increasing operating leverage enhanced by Kin's AI- and ML-enabled technology, drove Baseline Operating Income to $68.6 million, up 116% year-over-year.

"We grew revenue three times faster than we grew our fixed expense base, which drove our annual Baseline Operating Margin to a record 49%," said Kin Founder and CEO Sean Harper. "We aren't trying to find our way to profitability. Our core engine is already highly profitable. We are actively choosing to spend our operating income investing in our technology moat and acquiring more customers while others pull back."

Kin achieved 29% annual revenue growth in a market environment where many insurance distributors are finding it harder to grow. "In 2025, it was a bit harder to attract new customers than it was in 2024. That's just where we are in the insurance cycle with a softening market. Fortunately, our high baseline operating margins allowed us to increase marketing spend to ensure a fast growth rate, while still nearly doubling our overall operating profit," said Harper.

"Despite a more competitive environment, we chose to proactively capture market share," said Kin CFO Jerry Fadden. "Kin benefits from strong core unit economics — evidenced by our 94% Gross Profit Margin — and we continued to acquire high-LTV customers even at a higher initial cost. We are deliberately spending more on new revenue now because we know that with our strong customer retention, the long-term return is highly accretive to our margins."

Kin's evolution was marked by product expansion in 2025. In Q3, the company launched auto insurance in Texas and home financing in Florida. And, in Q4, Kin launched auto insurance in its largest market, Florida.

"Kin has built direct and trusted relationships with customers. That's a fact we're really proud of and consistently validate with the best customer ratings in home insurance," said Harper. "Our loyal base of homeowners are the most desirable customers for nearly any product or service. By listening to their feedback and responding with new, additional products they both want and need — starting with auto insurance and home financing — we have the unique opportunity to deepen those relationships. This strategy is working, demonstrated by an approximately 10% attachment rate just a few months in and a marketing cost of virtually zero for these products that are cross-sold to existing customers. We've built a highly efficient growth engine."

The Kin-managed reciprocal exchanges delivered stellar loss ratios for the year, driven by strong risk selection and a favorable weather environment during the Atlantic hurricane season. The combined adjusted loss ratio, net of XOL recoveries, was 20.7% for the full year 2025.^{(10) (11)}

"By focusing on the 50% of the Total Addressable Market who happen to live in high-risk areas, our data and risk selection are incredibly specialized," added Harper. "We are solving the hardest problem in the market, not just the easiest ones to sell."

"The reciprocals' performance in 2025 was outstanding," said Kin Chief Insurance Officer Angel Conlin. "While we benefited from limited catastrophic weather, the results were underpinned by our technology's ability to select better risk. This strong underwriting performance, combined with our expense discipline, allowed us to keep growing our EBITDA and operating income margins even as the external market became more competitive."

Looking ahead to 2026, Kin is positioned to capitalize on shifting market dynamics.

"As the insurance market softens, we're confident that our pace of innovation, product expansion, and exceptional customer experience will again differentiate Kin," concluded Harper. "Our marketing optimizations and the maturation of our auto and financing products will allow us to deepen our customer relationship and build long-term value."

Kin operates in 13 states — Alabama, Arizona, California, Colorado, Florida, Georgia, Louisiana, Mississippi, Missouri, South Carolina, Tennessee, Texas, and Virginia  —  which, together, make up 50% of the Total Addressable Market for home insurance. Known for its positive customer experience, Kin earns a 4.7 out of 5 rating on Google reviews based on more than 8,189 customer reviews, an A+ and 4.7 out of 5 rating with the Better Business Bureau based on 1,133 customer reviews, and an "Excellent" rating of 4.8 out of 5 on Trustpilot.com based on 6,930 customer reviews as of February 22, 2026.

About Kin

Kin helps homeowners protect and leverage their most important investments — their homes and vehicles. Kin offers direct-to-consumer digital home and auto insurance as well as home finance services focused on supporting underserved homeowners in states with high catastrophic risk. Kin offers more convenient and affordable home and auto insurance coverage by eliminating the need for external agents and analyzing thousands of data points to provide transparent, accurate pricing. Kin offers home financing with Kin-exclusive rates to help homeowners secure a better mortgage rate, refinance, or tap into their equity. Kin's AI-native technology platform delivers a seamless user experience, customized options, and fast, high-quality service. To learn more, visit www.kin.com.

Footnotes

1. The financial information represents the GAAP consolidated results of Kin Insurance, Inc., excluding its variable interest entities (VIEs), which include its reciprocal insurance carriers and captive. Prior period full-year results reflect immaterial audit adjustments from prior presentations. Quarterly results are unaudited.
2. Gross Written Premium includes premiums written by the two reciprocals managed by Kin Insurance, Inc. and certain third-party carriers.
3. New Revenue is a non-GAAP measure defined as fee revenue calculated in proportion to New Written Premium as a percentage of Total Written Premium at Kin's managed reciprocal exchanges.
4. Renewal Revenue is a non-GAAP measure defined as fee revenue calculated in proportion to Renewal Written Premium as a percentage of Total Written Premium at Kin's managed reciprocal exchanges.
5. Cost of Sales is a non-GAAP measure defined as customer servicing costs and internal claims labor expenses.
6. Gross Profit is a non-GAAP measure defined as Total Revenue less customer servicing costs and internal claims labor expenses.
7. Operating Income is a non-GAAP measure defined as net income/loss attributable to Kin Insurance, Inc., excluding interest expense, income tax expense, depreciation, amortization, stock-based compensation, and other non-operating expenses.
8. Growth Operating Income is a non-GAAP measure defined as New Revenue minus the portion of Cost of Sales attributable to New Revenue and Growth Expenses; Growth Expenses include sales and marketing expenses, variable data costs, and other expenses associated with customer acquisition.
9. Baseline Operating Income is a non-GAAP measure defined as Renewal Revenue minus the portion of Cost of Sales attributable to Renewal Revenue and G&A Expenses; G&A Expenses is defined as operating expenses not associated with customer acquisition.
10. The adjusted loss ratio is a non-GAAP measure defined as loss and loss adjustment expenses, net of catastrophe excess of loss reinsurance recoverables divided by earned premium and the "earned" portion of subscriber surplus contributions during the period and excludes claims management fees paid to the reciprocal exchange's attorney-in-fact.
11. The non-cat adjusted loss ratio is a non-GAAP measure defined as total loss and loss adjustment expenses, excluding loss and loss adjustment expenses from named storms and Property Claim Services (PCS) events as defined by Insurance Services Office, Inc. (ISO) divided by earned premiums and the "earned" portion of subscriber surplus contributions during the period and excludes claims management fees paid to the reciprocal exchange's attorney-in-fact.

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SOURCE Kin Insurance, Inc.