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Kin Insurance Completes Acquisition of Carrier with Licenses in 43 States.

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Vincent

MANews-(C)2009-2021

US-based direct-to-consumer homeowners insurance technology company Kin Insurance, Inc has completed the acquisition of an inactive insurance carrier that holds licenses in 43 states, the company said.

Kin, which currently operates in Florida, Louisiana and California, now has the ability to serve customers in most of the remaining states in which it does not currently operate, which constitute, in aggregate, a USD 110bn home insurance market.

The newly-acquired carrier, to be renamed the Kin Interinsurance Nexus, will enable Kin to continue its expansion with a focus on serving the growing number of catastrophe-prone states where homeowners need a new option for coverage.

The acquisition builds upon the success of the Kin Interinsurance Network, a reciprocal exchange where customers, through their premiums, insure other members and share in the underwriting profits when...

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