Kin’s largest reinsurance deal ever expands storm coverage beyond Florida for the first time

CHICAGO, May 6, 2026 /PRNewswire/ — Kin Insurance, the direct-to-consumer digital home insurance provider, today announced the successful completion of its largest-ever catastrophe (CAT) bond: a transaction through Hestia Re Ltd. (Series 2026-1) totaling $335 million across four bonds that secures multi-year financial protection for homeowners against major storms.

Catastrophe bonds raise funds from institutional investors who agree to cover losses if storm damage exceeds a set threshold, giving Kin stable, long-term backing. This is Kin’s fourth such CAT bond placement, and by every measure, its best.

“This is our fourth catastrophe bond, and with each one, the terms improve while investor demand grows,” said Kin Founder and CEO Sean Harper. “This year’s deal is our largest yet, covering more of the country than ever before, and achieving our best pricing to date. Our CAT bonds have historically outperformed other similar CAT bonds, which drives investor demand.”

A Deal Unlike Any Before

There are four key differences in this year’s bond offering:

• Geographic expansion. For the first time, the CAT bond protection extends beyond Florida to cover homeowners in additional states where Kin operates, reflecting its growing multi-state footprint.

• Risk expansion. Kin secured strong investor support for one of the most exposed portions of the transaction — the layer that would be first to cover losses in a major storm. This demonstrates investor confidence in Kin’s ability to select risk effectively and outperform the competition.

• Record investor participation. A larger group of institutional investors participated than any prior Kin deal, a sign of growing confidence in Kin’s business model.

• Best-in-class and Kin’s best-ever pricing. Kin’s AI-native approach to selecting and managing risk was rewarded. Investors overwhelmingly priced the bonds favorably relative to expected losses, meaning Kin is paying less than its peers for the underlying risk.

A Vote of Confidence

Investors backed this deal at record size and better pricing, demonstrating their continued confidence in Kin’s growing portfolio, distribution at scale, and approach to risk selection.

“This catastrophe bond reinforces our commitment to protecting policyholders for years to come,” said Kin Chief Insurance Officer Angel Conlin. “The terms reflect both the quality of our risk selection and the trust the market places in our platform.”

For a company like Kin, which insures homeowners in states where hurricanes, wildfires, and other severe weather events are a real and growing risk, reinsurance is a critical part of the financial foundation. Kin protects its customers by employing a combination of capital market and traditional reinsurance solutions. That diversification means a stronger product and greater peace of mind for its customers.

Premier insurance-focused investment banking team Howden Capital Markets & Advisory facilitated the transaction, alongside Howden Re.

Known for its positive customer experience, Kin earns a 4.7 out of 5 rating on Google based on more than 8,591 customer reviews, an A+ and 4.8 out of 5 rating with the Better Business Bureau based on 1,458 customer reviews, and an “Excellent” rating of 4.9 out of 5 on Trustpilot.com based on 7,386 customer reviews (as of May 6, 2026).

About Kin
Kin helps homeowners protect and leverage their most important investments — their homes and vehicles. By offering direct-to-consumer digital home and auto insurance alongside home finance services, the company focuses on supporting underserved homeowners in states with high catastrophic risk. Kin provides 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 complements this with 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.

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SOURCE Kin