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Conifer Holdings, now Presurance Holdings, reports developments for a Michigan property-and-casualty insurance holding company that writes specialty coverage through subsidiaries and markets largely personal lines through independent agents. Company updates focus on the shift toward personal lines, including homeowners insurance in Texas and the Midwest, and the runoff of legacy commercial lines after the completed sale of insurance agency operations.
Recurring announcements also cover quarterly and annual underwriting measures, gross written premium trends, combined ratios, investment income, book value, the completed corporate rebrand and ticker change, and capital actions such as a rights offering and preferred stock redemption.
Presurance Holdings (Nasdaq: PRHI) closed its rights offering on February 27, 2026, receiving $14,000,000 in gross proceeds. A total of 14,000,000 shares were issued: 4,284,640 via exercised subscription rights and 9,715,360 under a backstop commitment by Clarkston.
Proceeds were used to redeem the Series B preferred stock, pay accrued dividends, and for general corporate purposes. The offering was registered on Form S-1 (File No. 333-292735) declared effective February 6, 2026.
Presurance Holdings (Nasdaq: CNFR) commenced a rights offering for holders of record on February 6, 2026. Each shareholder received one non-transferable Subscription Right per share, exercisable to buy 1.145 shares at $1.00 per share through 5:00 p.m. ET on February 24, 2026. Brokers may require earlier action. Payments not applied to subscriptions will be refunded without interest. The offering is made pursuant to an effective Form S-1 registration and a prospectus filed with the SEC; recipients receive prospectus copies and may obtain them via the SEC website.
Presurance Holdings (Nasdaq: CNFR) reported results for the quarter ended September 30, 2025. Key metrics: personal lines combined ratio 95.2%, overall combined ratio 141.2%, net investment income $1.3M, book value per share $2.07. Gross written premiums were $14.6M (down 2.9% YoY) with personal lines up slightly to $11.16M (+0.8% YoY) while commercial lines continued runoff.
The company recorded a net loss allocable to common shareholders of $3.97M (‑$0.32 per share) and an adjusted operating loss of $2.71M (‑$0.22 per share). Management emphasizes a strategic shift toward data‑driven personal lines underwriting.
Conifer Holdings (NASDAQ:CNFR) announced a corporate rebranding to Presurance Holdings, Inc., effective September 30, 2025. The company will trade under the new ticker symbol PRHI, while its 9.75% Senior Notes due 2028 will trade as PRHIZ.
CEO Brian Roney emphasized that this rebranding marks a significant milestone and represents the company's next chapter, with a continued focus on strengthening the balance sheet and creating long-term shareholder value. The CUSIP numbers for both the common stock and senior notes will remain unchanged, and the company's subsidiaries will maintain their commitment to policyholder service.
Conifer Holdings (Nasdaq: CNFR) reported its Q2 2025 financial results, posting net income of $2.1 million ($0.17 per share), compared to a loss in the prior year period. The company's gross written premiums increased 11.1% to $21.1 million, driven by growth in Personal Lines business, particularly in homeowners' insurance in Texas and the Midwest.
Key metrics include net investment income of $1.3 million and a book value increase to $2.31 per share. Personal Lines represented 84.9% of total premiums, growing 46.8% to $17.9 million. However, the company reported a combined ratio of 121.1%, indicating underwriting losses, and an adjusted operating loss of $2.1 million ($0.17 per share).
Conifer Holdings (CNFR) reported significant changes in 2024, marked by the sale of its insurance agency operations in August for a $61 million gain. The company posted net income of $23.5 million for the full year 2024, despite a Q4 net loss of $25.4 million.
Total Gross Written Premium declined 50% year-over-year, with Q4 premiums dropping 43.9% to $13.7 million. This decline reflects the company's strategic shift away from commercial lines following the agency sale. However, Personal Lines business showed strong growth, increasing 10.6% in Q4 and 23.4% for the full year, now representing 77% of total gross written premium.
The company's net investment income grew 5.8% to $5.8 million for 2024. Book value per share stood at $1.76 as of December 31, 2024. The company focuses primarily on homeowner's insurance in Texas and the Midwest markets.
Conifer Holdings (CNFR) reported third quarter 2024 results, highlighting a $61 million gain from the sale of its insurance agency operations to Bishop Street Underwriters, completed in August 2024. The company reported net income of $53.3 million but faced an adjusted operating loss of $7.4 million. Total Gross Written Premium declined 61% due to the company's shift away from commercial lines business. Personal lines premium grew 10% to $11 million, representing 73% of total gross written premium. The company expects future focus on select personal lines, particularly Texas and Midwest homeowners insurance, with commercial lines projected to represent 10% or less of written premiums going forward.
Conifer Holdings (Nasdaq: CNFR) has announced significant changes to its business structure and leadership. The company has sold its insurance agency operations for $45 million, with potential additional earn-out payments of up to $25 million based on future performance. Conifer also divested its remaining interest in Sycamore Specialty Underwriters for $6.5 million.
As a result of these transactions, Conifer no longer has any insurance agency operations and expects a significant decline in revenue. In conjunction with these changes, Nick Petcoff has resigned as CEO and director, joining the purchaser of the sold operations. The Board has appointed Brian Roney, previously Conifer's President, as the new Chief Executive Officer.
Conifer Holdings (Nasdaq: CNFR) reported Q2 2024 financial results, highlighting a strategic shift towards a non-risk bearing revenue model. Key points include:
- Expense ratio improved 5.8 percentage points to 32.1%
- Net investment income increased 11.2% to $1.5 million
- Gross written premiums decreased 57.5% to $19.0 million
- Net loss of $4.0 million, or $0.32 per share
- Adjusted operating loss of $3.6 million, or $0.30 per share
The company is transitioning to a production-based revenue approach through its MGA, Conifer Insurance Services. This strategic move aims to optimize resources and focus on commission revenues. Personal lines gross written premium increased 23.0% to $12.2 million, driven by growth in low-value dwelling business.