Kin Insurance, a U.S.-based insurtech specializing in homeowners and property insurance for catastrophe-prone regions, completed its largest catastrophe bond transaction, securing $335 mn through Hestia Re Series 2026-1 across four separate bonds. The direct-to-consumer digital home insurer focuses on regions exposed to severe weather risk.
The new catastrophe bond arrangement gives Kin longer-term financial protection for homeowners if major storm losses exceed agreed thresholds.
Catastrophe bonds let institutional investors provide capital that insurers access when insured losses from severe weather cross a defined level. For carriers operating in hurricane, wildfire, and other high-risk markets, that capital sits beside traditional reinsurance and helps absorb peak losses.
Kin said the transaction marks its fourth catastrophe bond placement and its strongest deal to date by size, investor demand, and pricing.
Sean Harper, Kin’s founder and CEO, said each catastrophe bond has brought better terms and stronger investor demand. He said the 2026 deal is the company’s largest yet, covers more of the US than prior placements, and achieved Kin’s best pricing so far. He added that Kin’s cat bonds have historically outperformed comparable transactions, which has helped drive investor interest.
This catastrophe bond reinforces our commitment to protecting policyholders for years to come. The terms reflect both the quality of our risk selection and the trust the market places in our platform.
Angel Conlin, Kin CIO
This year’s deal also expands Kin’s catastrophe bond protection beyond Florida for the first time. The coverage now includes additional states where the insurer operates as part of its broader national growth plan.
Kin reported strong demand for one of the most exposed layers of the transaction, which would respond first after significant storm-related losses. That layer usually draws closer scrutiny from investors. Appetite there says something.
According to Beinsure analysts, the demand points to investor confidence in Kin’s underwriting, risk selection, and claims assumptions, especially as the insurer grows outside its original Florida-heavy footprint.
The company said the transaction attracted its largest group of institutional investors so far. Kin described that participation as further evidence of confidence in its operating model, distribution strategy, and long-term expansion plans.
Kin also said the bonds priced more favourably than any prior company transaction. Investors priced the notes competitively relative to expected losses, according to the insurer.
Angel Conlin, Kin’s chief insurance officer, said the catastrophe bond strengthens the company’s commitment to policyholder protection. She said the terms reflect both the quality of Kin’s risk selection and the market’s trust in its platform.
Reinsurance remains central to Kin’s financial structure. The insurer writes coverage in areas exposed to hurricanes, wildfires, and other severe weather events, so it uses both capital market tools and traditional reinsurance to support financial strength and policyholder claims capacity.
Howden Capital Markets & Advisory and Howden Re facilitated the transaction.
Kin Insurance reported gross written premium of $634.8 mn in 2025, up 28% from $495.3 mn a year earlier. Growth came largely from renewals, not aggressive new business expansion.
- Renewal written premium climbed to $440 mn from $302 mn, signaling a maturing in-force portfolio.
- New written premium held broadly flat at $194.5 mn.
- Premiums in force increased to $634.8 mn at year-end 2025, compared with $490.5 mn at the close of 2024.
Total revenue rose 29% to $201.6 mn, closely tracking premium growth. Revenue as a percentage of GWP remained steady at 32%.
New revenue edged up to $61.8 mn, while renewal revenue advanced to $139.8 mn from $95.2 mn, reflecting the scale of the renewal book.
