XML 34 R24.htm IDEA: XBRL DOCUMENT
v3.23.1

Property and Casualty Insurance Activity (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2023
Property and Casualty Insurance Activity |
Schedule of Earned Premiums |
|  | Direct |  |  | Assumed |  |  | Ceded |  |  | Net |
Three months ended March 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Premiums written |  | $ | 47,597,446 |  |  | $ | - |  |  | $ | (23,628,699 | ) |  | $ | 23,968,747 |
Change in unearned premiums |  |  | 2,332,884 |  |  |  | - |  |  |  | 1,953,322 |  |  |  | 4,286,206 |
Premiums earned |  | $ | 49,930,330 |  |  | $ | - |  |  | $ | (21,675,377 | ) |  | $ | 28,254,953 |
Three months ended March 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Premiums written |  | $ | 42,983,897 |  |  | $ | - |  |  | $ | (18,065,709 | ) |  | $ | 24,918,188 |
Change in unearned premiums |  |  | 2,392,727 |  |  |  | - |  |  |  | (637,535 | ) |  |  | 1,755,192 |
Premiums earned |  | $ | 45,376,624 |  |  | $ | - |  |  | $ | (18,703,244 | ) |  | $ | 26,673,380 |
Schedule of Line of Business |
|  | Treaty Year |
|  | July 1, 2022 |  |  | July 1, 2021 |
|  | to |  |  | to |
Line of Business |  | June 30, 2023 |  |  | June 30, 2022 |
Personal Lines: |  |  |  |  |  |
Personal Umbrella |  |  |  |  |  |
Quota share treaty: |  |  |  |  |  |
Percent ceded - first $1,000,000 of coverage |  |  | 90 | % |  |  | 90 | %
Percent ceded - excess of $1,000,000 dollars of coverage |  |  | 95 | % |  |  | 95 | %
Risk retained |  | $ | 300,000 |  |  | $ | 300,000 |
Total reinsurance coverage per occurrence |  | $ | 4,700,000 |  |  | $ | 4,700,000 |
Losses per occurrence subject to quota share reinsurance coverage |  | $ | 5,000,000 |  |  | $ | 5,000,000 |
Expiration date |  |  | June 30, 2023 |  |  |  | June 30, 2022 |
Commercial Lines (1) |  |  |  |  |  |  |  |
Schedule of unpaid losses and LAE |
|  | Three months ended |
|  | March 31, |
|  | 2023 |  |  | 2022 |
Balance at beginning of period |  | $ | 118,339,513 |  |  | $ | 94,948,745 |
Less reinsurance recoverables |  |  | (27,659,500 | ) |  |  | (10,637,679 | )
Net balance, beginning of period |  |  | 90,680,013 |  |  |  | 84,311,066 |
Incurred related to: |  |  |  |  |  |  |  |
Current year |  |  | 25,042,531 |  |  |  | 22,944,869 |
Prior years |  |  | (3,121 | ) |  |  | (3,671 | )
Total incurred |  |  | 25,039,410 |  |  |  | 22,941,198 |
Paid related to: |  |  |  |  |  |  |  |
Current year |  |  | 5,886,288 |  |  |  | 9,283,972 |
Prior years |  |  | 16,116,681 |  |  |  | 14,918,035 |
Total paid |  |  | 22,002,969 |  |  |  | 24,202,007 |
Net balance at end of period |  |  | 93,716,454 |  |  |  | 83,050,257 |
Add reinsurance recoverables |  |  | 30,405,364 |  |  |  | 15,866,741 |
Balance at end of period |  | $ | 124,121,818 |  |  | $ | 98,916,998 |
Incurred Claims and Allocated Claim Adjustment Expenses |
|  |  |  |  | As of |
|  | Incurred Loss and Allocated Loss Adjustment Expenses, Net of Reinsurance |  |  |  |  |  | March 31, 2023 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Cumulative |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Three |  |  |  |  |  |  |  | Number of |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Months |  |  |  |  |  |  |  | Reported |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Ended |  |  |  |  |  |  |  | Claims by |
Accident |  | For the Years Ended December 31, |  |  | March 31, |  |  |  |  |  |  |  | Accident |
Year |  | 2014 |  |  | 2015 |  |  | 2016 |  |  | 2017 |  |  | 2018 |  |  | 2019 |  |  | 2020 |  |  | 2021 |  |  | 2022 |  |  | 2023 |  |  | IBNR |  |  |  | Year |
|  | (Unaudited 2014 - 2022) |  |  | (Unaudited) |  |  |  |  |  |  |
2014 |  | $ | 14,193 |  |  | $ | 14,260 |  |  | $ | 14,218 |  |  | $ | 14,564 |  |  | $ | 15,023 |  |  | $ | 16,381 |  |  | $ | 16,428 |  |  | $ | 16,434 |  |  | $ | 16,486 |  |  | $ | 16,486 |  |  | $ | 24 |  |  |  | 2,138 |
2015 |  |  |  |  |  |  | 22,340 |  |  |  | 21,994 |  |  |  | 22,148 |  |  |  | 22,491 |  |  |  | 23,386 |  |  |  | 23,291 |  |  |  | 23,528 |  |  |  | 23,533 |  |  |  | 23,553 |  |  |  | 240 |  |  |  | 2,559 |
2016 |  |  |  |  |  |  |  |  |  |  | 26,062 |  |  |  | 24,941 |  |  |  | 24,789 |  |  |  | 27,887 |  |  |  | 27,966 |  |  |  | 27,417 |  |  |  | 27,352 |  |  |  | 27,246 |  |  |  | 183 |  |  |  | 2,881 |
2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 31,605 |  |  |  | 32,169 |  |  |  | 35,304 |  |  |  | 36,160 |  |  |  | 36,532 |  |  |  | 36,502 |  |  |  | 36,456 |  |  |  | 301 |  |  |  | 3,399 |
2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 54,455 |  |  |  | 56,351 |  |  |  | 58,441 |  |  |  | 59,404 |  |  |  | 61,237 |  |  |  | 61,231 |  |  |  | 1,247 |  |  |  | 4,231 |
2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 75,092 |  |  |  | 72,368 |  |  |  | 71,544 |  |  |  | 71,964 |  |  |  | 72,295 |  |  |  | 2,180 |  |  |  | 4,499 |
2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 63,083 |  |  |  | 62,833 |  |  |  | 63,217 |  |  |  | 63,266 |  |  |  | 2,074 |  |  |  | 5,873 |
2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 96,425 |  |  |  | 96,673 |  |  |  | 96,305 |  |  |  | 6,733 |  |  |  | 5,794 |
2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 79,835 |  |  |  | 79,966 |  |  |  | 11,460 |  |  |  | 4,606 |
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 23,738 |  |  |  | 8,184 |  |  |  | 876 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Total |  |  | $ | 500,541 |  |  |  |  |  |  |  |  |
Cumulative Paid Claims and Allocated Claim Adjustment Expenses |
|  | Cumulative Paid Loss and Allocated Loss Adjustment Expenses, Net of Reinsurance |
Accident |  | For the Years Ended December 31, |  |  | Three Months Ended March 31, |
Year |  | 2014 |  |  | 2015 |  |  | 2016 |  |  | 2017 |  |  | 2018 |  |  | 2019 |  |  | 2020 |  |  | 2021 |  |  | 2022 |  |  | 2023 |
|  | (Unaudited 2014 - 2022) |  |  | (Unaudited) |
2014 |  | $ | 5,710 |  |  | $ | 9,429 |  |  | $ | 10,738 |  |  | $ | 11,770 |  |  | $ | 13,819 |  |  | $ | 14,901 |  |  | $ | 15,491 |  |  | $ | 15,770 |  |  | $ | 16,120 |  |  | $ | 16,127 |
2015 |  |  |  |  |  |  | 12,295 |  |  |  | 16,181 |  |  |  | 18,266 |  |  |  | 19,984 |  |  |  | 21,067 |  |  |  | 22,104 |  |  |  | 22,318 |  |  |  | 22,473 |  |  |  | 22,487 |
2016 |  |  |  |  |  |  |  |  |  |  | 15,364 |  |  |  | 19,001 |  |  |  | 21,106 |  |  |  | 23,974 |  |  |  | 25,234 |  |  |  | 25,750 |  |  |  | 26,382 |  |  |  | 26,557 |
2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 16,704 |  |  |  | 24,820 |  |  |  | 28,693 |  |  |  | 31,393 |  |  |  | 32,529 |  |  |  | 33,522 |  |  |  | 33,911 |
2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 32,383 |  |  |  | 44,516 |  |  |  | 50,553 |  |  |  | 52,025 |  |  |  | 54,424 |  |  |  | 54,906 |
2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 40,933 |  |  |  | 54,897 |  |  |  | 58,055 |  |  |  | 60,374 |  |  |  | 60,993 |
2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 39,045 |  |  |  | 50,719 |  |  |  | 53,432 |  |  |  | 54,379 |
2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 56,282 |  |  |  | 77,756 |  |  |  | 78,247 |
2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 45,856 |  |  |  | 58,175 |
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 5,301 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Total |  |  | $ | 411,083 |
Net liability for unpaid loss and allocated loss adjustment expenses for the accident years presented |  |  | $ | 89,459 |
All outstanding liabilities before 2014, net of reinsurance |  |  |  | 273 |
Liabilities for loss and allocated loss adjustment expenses, net of reinsurance |  |  | $ | 89,731 |
Reconciliation of the net incurred and paid claims |
|  | As of |
(in thousands) |  | March 31, 2023 |
Liabilities for allocated loss and loss adjustment expenses, net of reinsurance |  | $ | 89,731 |
Total reinsurance recoverable on unpaid losses |  |  | 30,405 |
Unallocated loss adjustment expenses |  |  | 3,985 |
Total gross liability for loss and LAE reserves |  | $ | 124,122 |
Supplementary unaudited information about average historical claims duration |
|  | Treaty Period |
|  | 2023/2024 Treaty |  |  | 2021/2023 Treaty |
|  | July 1, |  |  | January 1, |  |  | July 1, |  |  | December 31, |
|  | 2023 |  |  | 2023 |  |  | 2022 |  |  | 2021 |
|  | to |  |  | to |  |  | to |  |  | to |
|  | January 1, |  |  | June 30, |  |  | January 1, |  |  | June 30, |
Line of Business |  | 2024 |  |  | 2023 |  |  | 2023 |  |  | 2022 |
Personal Lines: |  |  |  |  |  |  |  |  |  |  |  |
Homeowners, dwelling fire and and canine legal liability |  |  |  |  |  |  |  |  |  |  |  |
Quota share treaty: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Percent ceded (8) |  |  | 30 | % |  |  | 30 | % |  |  | 30 | % |  |  | 30 | %
Risk retained on intial $1,000,000 of losses (6) (7) (8) |  | $ | 700,000 |  |  | $ | 700,000 |  |  | $ | 700,000 |  |  | $ | 700,000 |
Losses per occurrence subject to quota share reinsurance coverage |  | $ | 1,000,000 |  |  | $ | 1,000,000 |  |  | $ | 1,000,000 |  |  | $ | 1,000,000 |
Expiration date |  |  | January 1, 2024 |  |  |  | January 1, 2024 |  |  |  | January 1, 2023 |  |  |  | January 1, 2023 |
Excess of loss coverage and facultative facility coverage (1) (6) |  |  | (7 | ) |  | $ | 8,400,000 |  |  | $ | 8,400,000 |  |  | $ | 8,400,000 |
|  |  |  |  |  |  | in excess of |  |  |  | in excess of |  |  |  | in excess of |
|  |  |  |  |  | $ | 600,000 |  |  | $ | 600,000 |  |  | $ | 600,000 |
Total reinsurance coverage per occurrence (6) (7) |  | $ | 500,000 |  |  | $ | 8,500,000 |  |  | $ | 8,500,000 |  |  | $ | 8,500,000 |
Losses per occurrence subject to reinsurance coverage |  |  | (7 | ) |  | $ | 8,000,000 |  |  | $ | 9,000,000 |  |  | $ | 9,000,000 |
Expiration date |  |  | (7 | ) |  |  | June 30, 2023 |  |  |  | June 30, 2023 |  |  |  | June 30, 2022 |
Catastrophe Reinsurance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Initial loss subject to personal lines quota share treaty (7) |  | $ | 10,000,000 |  |  | $ | 10,000,000 |  |  | $ | 10,000,000 |  |  | $ | 10,000,000 |
Risk retained per catastrophe occurrence (8) (9) |  |  | (7 | ) |  | $ | 8,750,000 |  |  | $ | 7,400,000 |  |  | $ | 7,400,000 |
Catastrophe loss coverage in excess of quota share coverage (2) |  |  | (7 | ) |  | $ | 335,000,000 |  |  | $ | 335,000,000 |  |  | $ | 490,000,000 |
Catastrophe stub coverage for the period from October 18, 2021 through December 31, 2021 (5) |  |  | NA |  |  |  | NA |  |  |  | NA |  |  |  | NA |
Reinstatement premium protection (3) (4) |  |  | (7 | ) |  |  | Yes |  |  |  | Yes |  |  |  | Yes |
Schedule of Ceding commission revenue |
|  | Three months ended |
|  | March 31, |
|  | 2023 |  |  | 2022 |
Provisional ceding commissions earned |  | $ | 5,446,808 |  |  | $ | 4,541,533 |
Contingent ceding commissions earned |  |  | (1,401 | ) |  |  | 139,863 |
|  | $ | 5,445,407 |  |  | $ | 4,681,396 |

X
- References No definition available. + Details
Name: | king_CumulativePaidClaimsAllocatedClaimAdjustmentExpensesTableTextBlock
Namespace Prefix: | king_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | king_IncurredClaimsAllocatedClaimAdjustmentTableTextBlock
Namespace Prefix: | king_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | king_PropertyAndCasualtyInsuranceActivityAbstract
Namespace Prefix: | king_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | king_ReconciliationOfNetIncurredAndPaidClaimsTableTextBlock
Namespace Prefix: | king_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | king_ScheduleOfCedingCommissionRevenuetabletextblock
Namespace Prefix: | king_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Custom Element. + References No definition available. + Details
Name: | king_ScheduleOfEarnedPremiumsTextBlock
Namespace Prefix: | king_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | king_ScheduleOfLineOfBusinessTabletextblock
Namespace Prefix: | king_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | king_ScheduleOfUnpaidLossesAndLaeTableTextBlock
Namespace Prefix: | king_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of average annual percentage payout of incurred claims by age, after reinsurance, for short-duration insurance contracts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 4G -URI https://asc.fasb.org/extlink&oid=116884468&loc=SL65671329-158438 + Details
Name: | us-gaap_ShortdurationInsuranceContractsScheduleOfHistoricalClaimsDurationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration