STOCK TITAN

Conifer Holdings, Inc. - CNFR STOCK NEWS

Welcome to our dedicated page for Conifer Holdings news (Ticker: CNFR), a resource for investors and traders seeking the latest updates and insights on Conifer Holdings stock.

Conifer Holdings, Inc. (CNFR) is a specialized insurance company based in Michigan. The company provides customized insurance products primarily for regional industry groups which are often underserved by larger national and international insurance firms. Conifer’s core expertise lies in the hospitality sector, offering comprehensive coverage to restaurants, bars, and taverns. The company's approach is supported by knowledgeable management, dedicated underwriting, and efficient claims handling.

Conifer Holdings operates through three primary segments: Commercial Lines, Personal Lines, and Wholesale Agency Business. The Commercial and Personal Lines segments are considered underwriting businesses, providing various property and casualty insurance products. The Wholesale Agency Business, on the other hand, generates non-risk bearing revenue through commissions and policy fees.

The company offers both admitted and excess & surplus lines capabilities, which vary by state, allowing for a flexible approach to meet diverse insurance needs. Conifer’s revenue is derived from the premiums earned through its insurance operations.

Recent Achievements and Financial Performance:

  • For the third quarter ended September 30, 2023, Conifer reported a combined ratio of 120.8%. Excluding storm losses, the accident year combined ratio was 95.3%.
  • In the first quarter of 2024, gross written premiums decreased to $24.3 million, reflecting a strategic decision to focus on non-risk bearing revenue.
  • The combined ratio improved to 96.7% for the first quarter of 2024, highlighting effective risk mitigation strategies and a commitment to profitability.

Conifer Holdings continues to demonstrate strong financial discipline, with ongoing improvements in their expense ratio, which was 34.7% for the first quarter of 2024, below the company's near-term target of 35%. Adjusted operating income was reported at $188,000, or $0.02 per share, for the same period.

The company regularly hosts conference calls to discuss its financial performance and operational review, with the next scheduled call on April 5, 2024.

Rhea-AI Summary

Conifer Holdings (CNFR) announced its 2024 Q1 financial results, showcasing a strategic shift towards non-risk bearing revenue models. The combined ratio improved to 96.7%, down 2.8 percentage points from Q1 2023. The expense ratio dropped to 34.7%, contributing to a net investment income rise of 18.7% to $1.6 million. Despite a gross written premium decrease of 32.9% to $24.3 million, net income for common shareholders reached $74,000, or $0.01 per share. The company's commercial lines saw a significant premium decline of 56%, while personal lines grew by 59.6%.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.32%
Tags
-
Rhea-AI Summary

Conifer Holdings, Inc. (Nasdaq: CNFR) will host a conference call/webcast on May 15, 2024, to discuss financial results for the first quarter ended March 31, 2024. The Company plans to release its first-quarter financial results on May 14, 2024. Investors, analysts, employees, and the public can listen to the conference call via webcast or phone.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-9.96%
Tags
-
Rhea-AI Summary
Conifer Holdings, Inc. (CNFR) announced its financial results for the fourth quarter and year ended December 31, 2023. The company saw a 4.2% increase in gross written premium to $143.8 million, with net investment income rising by 81.6% to $5.5 million. CEO Nick Petcoff highlighted the company's efforts to strengthen reserves and transition to a production-based revenue model. Conifer also shifted focus to its managing general agency, expecting 100% of future commercial premium to run through it. Despite challenges in the insurance landscape, the company aims for greater agility and stability in its operations.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
Rhea-AI Summary
Conifer Holdings, Inc. (CNFR) partners with Accelerant, a data-driven risk exchange, to enhance risk assessment and deliver tailored specialty insurance products to niche commercial clients. Accelerant's 'A-' financial strength rating from A.M. Best adds credibility to the collaboration, aiming to drive sustainable growth and innovation in the specialty commercial insurance market.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.82%
Tags
partnership
-
Rhea-AI Summary
Conifer Holdings, Inc. (CNFR) will host a conference call/webcast on April 5, 2024, to discuss Q4 2023 financial results. Investors can access the webcast or call in to listen. The company plans to release the financial results on April 4, 2024, after the market closes.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.82%
Tags
-
Rhea-AI Summary
Conifer Holdings, Inc. (CNFR) announces a strategic partnership with Palomar Holdings, Inc. to offer specialized insurance solutions for the cannabis industry through PSIC and PESIC. The partnership aims to address the unique risks faced by cannabis businesses, leveraging expertise and networks to provide comprehensive coverage.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
11.51%
Tags
partnership
Rhea-AI Summary
Conifer Holdings, Inc. (Nasdaq: CNFR) has appointed Isolde G. O’Hanlon as Acting Board Chair and elected J. Grant Smith to serve on the Company’s Board of Directors. Ms. O’Hanlon has over 25 years of experience in the Insurance Investment Banking field, specializing in advising and capital raising for insurance industry investments. Mr. Smith currently serves as the President and Chief Operating Officer for Waterford Bank, N.A., and has a successful track record in corporate finance and achieving record profitability and performance results post-recession.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.32%
Tags
management
-
Rhea-AI Summary
Conifer Holdings, Inc. (Nasdaq: CNFR) announced Q3 2023 results, highlighting a 16.5% increase in gross written premium, a 68.6% rise in net investment income, and an improved expense ratio. Despite storm-related losses, the company's core lines of business delivered positive results, and excluding these losses, Conifer would have achieved profitability in the quarter.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-6.37%
Tags
-
Rhea-AI Summary
Conifer Holdings, Inc. to host conference call to discuss Q3 2023 financial results
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
Rhea-AI Summary
Conifer Holdings announces Nicholas J. Petcoff as sole CEO
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
none

FAQ

What does Conifer Holdings, Inc. specialize in?

Conifer Holdings specializes in providing customized insurance products primarily for the hospitality industry, including restaurants, bars, and taverns.

Where is Conifer Holdings, Inc. based?

Conifer Holdings, Inc. is based in Michigan, USA.

What are the main segments of Conifer Holdings' business?

The main segments are Commercial Lines, Personal Lines, and Wholesale Agency Business.

What type of insurance does Conifer Holdings provide?

Conifer Holdings provides property and casualty insurance products.

How does Conifer Holdings generate revenue?

The company generates revenue from premiums earned through its insurance operations and non-risk bearing revenue from commissions and policy fees in its wholesale agency business.

What was the company's combined ratio for the third quarter of 2023?

The combined ratio for the third quarter of 2023 was 120.8%, and 95.3% excluding storm losses.

How did Conifer Holdings perform financially in the first quarter of 2024?

Gross written premiums decreased to $24.3 million. The combined ratio improved to 96.7%, and adjusted operating income was $188,000 or $0.02 per share.

What is Conifer Holdings' approach to managing expenses?

Conifer Holdings emphasizes expense management, with an expense ratio of 34.7% in the first quarter of 2024, below their near-term target of 35%.

When is the next conference call hosted by Conifer Holdings?

The next conference call is scheduled for April 5, 2024.

How can I access the archived webcast of Conifer Holdings' conference calls?

The archived webcast is available for replay on the Conifer Holdings website at IR.CNFRH.com.

Conifer Holdings, Inc.

Nasdaq:CNFR

CNFR Rankings

CNFR Stock Data

10.40M
12.22M
44.58%
34.65%
0.01%
Direct Property and Casualty Insurance Carriers
Finance and Insurance
Link
United States of America
TROY