Kingstone Names Randy L. Patten as CFO to Drive Finance and Growth Strategy
Kingstone Companies (Nasdaq: KINS), a property and casualty insurance holding company based in the Northeastern U.S., has announced the appointment of Randy L. Patten as Chief Financial Officer, effective August 25, 2025. Patten brings extensive industry experience from his tenure at NEXT Insurance, where he served as Vice President, Chief Accounting Officer, and Treasurer. During his time at NEXT Insurance, Patten played a critical role in the company's $2.6 billion acquisition by ERGO Group AG, a subsidiary of MunichRe.
Prior to NEXT Insurance, Patten held senior financial roles at United Fire Group (NASDAQ: UFCS) for nearly a decade, including Interim Co-Chief Financial Officer and Director of Investor Relations. He also spent 15 years at Transamerica Life Insurance Company/AEGON USA, gaining comprehensive expertise in U.S. GAAP, IFRS, statutory reporting, SEC compliance, and enterprise risk management.
In his new role at Kingstone, Patten will oversee all aspects of the finance organization, including GAAP and statutory accounting, financial planning and analysis, capital management, SEC compliance, investor relations, treasury, and tax functions. This appointment aligns with Kingstone's strategic goals as it continues its growth trajectory in the regional P&C insurance market.
Kingstone Insurance Company (KICO), Kingstone's main operating subsidiary, is a New York-domesticated insurer active in personal lines and commercial auto insurance across multiple Northeastern states. In 2024, KICO ranked as the 12th largest writer of homeowners insurance in New York, and it holds licenses in New Jersey, Rhode Island, Massachusetts, Connecticut, Pennsylvania, New Hampshire, and Maine.
Meryl Golden, President and CEO of Kingstone, emphasized Patten's strong financial leadership and industry knowledge as key assets that will support the company's next expansion phase. Patten expressed enthusiasm about joining Kingstone during its notable operational turnaround and aims to leverage his expertise to drive sustained profitability and market presence.
The appointment highlights the ongoing consolidation and leadership strengthening within regional insurance markets. Patten's background in managing financial compliance and capital strategy in public companies is expected to enhance Kingstone's regulatory adherence and investor communication.
Kingstone faces industry challenges including regulatory scrutiny and competitive pressures in the regional P&C insurance sector. Patten's CFO experience in public and private company transactions, capital raising, and SEC compliance equips Kingstone to navigate these complexities effectively.
This leadership change signals Kingstone's commitment to solid financial governance and strategic planning. It may result in improved financial reporting quality, more robust capital management, and stronger investor relations, all critical for sustaining growth in the evolving insurance landscape.
Stakeholders and market watchers will monitor how Patten's appointment influences Kingstone's financial strategies and market performance. The integration of his expertise is integral as Kingstone pursues enhanced operational efficiency and competitive advantage in the regional insurance space.
Forward-looking statements caution that actual outcomes are subject to risks and uncertainties detailed in Kingstone's SEC filings. The company has not committed to updating these projections publicly, indicating a focus on measured and regulated communication.
Overall, this CFO change is a strategic move by Kingstone to bolster its leadership team with a seasoned insurance finance executive, positioning the company for future growth and compliance excellence in a competitive Northeast market.