Welcome to our dedicated page for Conifer Holdings news (Ticker: CNFRL), a resource for investors and traders seeking the latest updates and insights on Conifer Holdings stock.
The CNFRL news archive on Stock Titan captures the historical disclosures and developments of Conifer Holdings, Inc., a Michigan-based property and casualty insurance holding company that later rebranded as Presurance Holdings, Inc. Company news releases provide detailed insight into how Conifer’s business evolved over time, including its focus on specialty insurance coverage in commercial and personal lines and its subsequent emphasis on personal lines homeowners’ business in Texas and the Midwest.
Readers can review quarterly and annual financial results, where the company reports gross written premium, net earned premium, loss ratios, expense ratios, combined ratios, net investment income, and non-GAAP adjusted operating income. Management commentary in these releases explains the impact of storm activity, reserve strengthening in commercial lines, and the effects of reinsurance and quota share treaties on underwriting performance.
The news flow also documents strategic transactions and corporate changes. Notable items include the sale of Conifer’s insurance agency operations, the sale of its remaining interest in Sycamore Specialty Underwriters, and the runoff of legacy commercial lines. These events are linked to a broader shift away from a traditional risk-bearing carrier model toward a wholesale agency, production-based revenue approach through a managing general agency.
Another key theme in the CNFRL-related news is the corporate rebrand to Presurance Holdings, Inc., along with the change in Nasdaq ticker symbol for the common stock to PRHI and for the 9.75% Senior Notes due 2028 to PRHIZ. Investors and researchers can use this news archive to trace how the company’s strategy, business mix, and capital structure changed over time. For ongoing developments under the new name and ticker, more recent releases refer to Presurance Holdings, Inc. and the PRHI symbol.
Conifer Holdings (Nasdaq: CNFR) will host a conference call/webcast on November 12, 2020, at 8:30 AM ET to discuss its third-quarter financial results for the period ending September 30, 2020. The financial results will be released on November 11, 2020, after market close. The conference call can be accessed via a dedicated phone line or through a webcast available on Conifer's website. Audited consolidated financial statements are available in the company's annual 10-K report filed on March 12, 2020.
Conifer Holdings (Nasdaq: CNFR) has appointed Timothy M. Lamothe to its Board of Directors, following the departure of Jorge Morales. Lamothe, with over 38 years in the reinsurance industry including a senior role at Swiss Reinsurance, is expected to enhance Conifer's marketing strategies for its specialty insurance products. He will serve on the Nominating and Corporate Governance Committee. Additionally, Isolde G. O’Hanlon and R. Jamison Williams, Jr. have been appointed to the Compensation and Audit Committees, respectively.
Conifer Holdings reported a net income of $1.5 million ($0.16 per share) for Q2 2020, a recovery from a net loss of $2.9 million in Q2 2019. The gross written premium rose by 9.4% to $27.5 million, driven by growth in commercial specialty lines. The combined ratio improved to 100.5% from 113.0%, with a notable loss ratio reduction to 54.6%. The company also posted a book value per share of $4.51, an 18.4% increase from the previous quarter. Management remains conservative amid global uncertainties but focuses on profitable growth.