The latest set of results from Kin look pretty healthy;
Kin, the direct-to-consumer provider of insurance and home finance solutions for homeowners, today announced operating results for the second quarter ended June 30, 2026. The results highlight continued growth across Kin’s managed reciprocal exchanges, alongside sustained operating leverage and profitability at Kin Insurance, Inc.
Premium growth at Kin’s managed reciprocal exchanges continued through the second quarter, with Premium in Force; climbing 23% year-over-year to $701.1 million and Gross Written Premium reaching $218.9 million, up 15%.
Total Kin Insurance, Inc. revenue grew 16% to $68 million, and Gross Profit Margin expanded to 95%. Baseline Operating Income reached a record $28.6 million, up 14% year-over-year, even as Kin stepped up investment in customer acquisition.
“We bound more policies in June than any month in Kin’s history. All of our top-10 sales-volume days were in May and June,” said Kin Founder and CEO Sean Harper. “Even though fewer customers are shopping for insurance, Kin is capturing an increasing share of those customers. Equally important, our platform handled that new customer growth without a corresponding increase in operating costs. We built Kin to scale efficiently, and this quarter is another example of that showing up in the numbers.”
Bucking the Trend of Slowing Market Growth
Despite declining shopping activity across the industry, Kin’s momentum built steadily throughout the quarter. New Written Premium at the managed reciprocal exchanges reached $59.8 million while Renewal Written Premium increased to $159 million. May established a new company record for monthly bind volume before June surpassed it again.
The continued acceleration reflects Kin’s sophisticated consumer marketing approach that allows it to target the right customers across its 14-state footprint with its simpler, more affordable insurance solutions.
Auto Insurance Continues to Scale
Kin’s auto insurance business continued to gain traction as customers increasingly chose bundled home and auto coverage. Auto Gross Written Premium at Kin’s managed reciprocal exchanges reached $10 million during the second quarter and has already increased to more than $13 million as of August 10. Auto sales grew 83% quarter over quarter, driven by strong attachment rates among existing homeowners as well as new customers in Florida and Texas, the two states in which Kin offers bundling.
Bundling has a significant impact on retention, revenue growth, and unit economics.
“When Kin customers add auto it cuts attrition approximately in half, which combined with the additional auto revenue, generates 2-3x higher lifetime value,” said Harper. “For a product that costs Kin virtually nothing to sell, its rollout across Kin markets will continue to have a significant impact on the business.”
AI Integration Delivers Operating Leverage
From the end of Q2 2025 to the end of Q2 2026, Kin grew Premium in Force at its managed reciprocal exchanges by $129 million while G&A expenses increased by only $1.7 million at Kin Insurance, Inc. — roughly $80 of growth for every incremental dollar of overhead. The majority of Kin business processes utilize AI, enabling a leaner G&A structure than its growth rate would typically demand. The company automates work across engineering, finance, underwriting, claims, marketing, operations, and customer support workflows, with humans exercising judgement, correcting AI when needed, and making sure the facts the AI and ML systems use are accurate and accessible.
“Our AI integrations allow the business to support a significantly larger book of business without increases in overhead,” said Kin Chief Technology Officer Kevin Greene. “Our existing team is handling more volume, in more states, with more products launching faster than ever, yet there has been virtually no impact on employee count. This is the promise of AI and we see it in our business every day.”
Growth Expenses at Kin Insurance, Inc. increased to $33.8 million during the quarter as the company invested to support record customer acquisition. At the same time, G&A and R&D Expenses increased more modestly to $19.2 million, allowing Baseline Operating Margin to remain at 57%, consistent with the prior-year period.
“The encouraging part of the quarter isn’t simply that we grew faster,” said Kin CFO Jerry Fadden. “It’s that our underlying economics continued to perform in line with expectations while we invested to support customer acquisition.”
Stronger Economics Benefit the Reciprocal Exchanges
The quarter’s growth also strengthened the financial performance of the reciprocal exchanges managed by Kin.
Combined adjusted net income across the two managed reciprocal exchanges exceeded $25 million during the quarter, well ahead of expectations11. New reinsurance contracts became effective in June, providing additional protection as the exchanges entered peak hurricane season.
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