Kingstone Names Randy L. Patten CFO to Lead Financial Growth Strategy
Kingstone Companies, Inc., a regional property and casualty insurance holding company focused on the Northeast U.S. market, has appointed Randy L. Patten as its new Chief Financial Officer, effective August 25, 2025. Patten brings extensive experience in insurance finance, having held senior roles at NEXT Insurance, including Vice President, Chief Accounting Officer, Treasurer, and CFO for the U.S. insurance subsidiary. His background also includes a decade at United Fire Group with roles spanning CFO and investor relations, and 15 years at Transamerica Life Insurance Company in financial leadership positions encompassing U.S. GAAP, IFRS, statutory reporting, SEC compliance, and enterprise risk management.
In his role at Kingstone, Patten will oversee a broad spectrum of financial functions including GAAP and statutory accounting, financial planning and analysis, capital management, SEC compliance, tax, investor relations, investments, and treasury operations. His appointment aligns with Kingstone's strategic objectives to consolidate its growth and operational capabilities in the Northeast property and casualty insurance market.
Kingstone Insurance Company (KICO), Kingstone's principal subsidiary, operates primarily in New York and holds licenses in several other Northeastern states including New Jersey, Rhode Island, Massachusetts, Connecticut, Pennsylvania, New Hampshire, and Maine. KICO is notable for its provision of personal and commercial auto insurance and ranking as the 12th largest homeowners insurance writer in New York in 2024.
The company emphasized Patten's role in supporting Kingstone's next growth phase, particularly in capital raising and mergers and acquisitions, signaling a focus on strategic financial leadership. The appointment comes after Kingstone's notable turnaround over the previous three years, positioning the company to potentially capitalize on market opportunities in the regional insurance landscape.
Kingstone disclosed that forward-looking statements concerning its business outlook, risk factors, and future plans are subject to change based on market conditions and regulatory parameters. The firm also highlighted that it complies with SEC regulations regarding investor communications and updates.