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  "documentTitle": "Kin | SPAC Presentation Deck | 91 slides",
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  "presentationDate": "2021-09-01 00:00:00",
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  "notes": "Explains the accounting relationship between Kin Insurance, Inc. and the Kin Interinsurance Network.",
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      "text": "As both Attorney-In-Fact (AIF) and primary capital provider through the Surplus Notes funding the carrier, Kin Insurance currently has both management control and capital at risk in the carrier. The reciprocal qualifies as a VIE and must be consolidated until the Surplus Notes are paid down or placed with a third party",
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      "text": "Once the carrier matures and shows consistent surplus growth without capital infusions, we can start paying down the surplus notes and/or place them with a third party. Kin Insurance, Inc. will remain as AIF, but without direct capital at risk in the carrier we will not have to consolidate",
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      "text": "Kin Insurance, Inc. (Shareholder Interest) This is the management entity that shareholders own, incurs all payroll, marketing, and other costs & generates revenue primarily from the reciprocal. Kin Interinsurance Network (Non-Controlling Interest) This is the reciprocal carrier, which qualifies as a non-controlling interest as it’s owned by policyholders",
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      "text": "Our Reciprocal is a Variable Interest Entity (VIE) to Kin Insurance",
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      "text": "Long term we can deconsolidate the carrier",
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