Conifer Holdings Q3 net loss $2.7M; storm losses push combined ratio to 120.8%

Presurance Holdings, Inc.

2023-Q3 EPS reported -$0.53 vs consensus $0.02 ▼ miss (-2698.0%)

Gross written premium up 16.5% to $38.5M; personal lines GWP surged 84.4% to $10.1M.
Net loss of $2.7M ($0.22/share) vs loss of $1.5M ($0.14) a year ago.
Combined ratio 120.8% (106.5% prior); accident year ratio ex-storms was 95.3%.
Expense ratio improved to 33.9% (below 35% target); investment income up 68.6% to $1.5M.
Management cited $2.5M in severe storm losses in Q3 as primary drag on profitability.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Presurance Holdings, Inc. reported the third quarter ended September 30, 2023 results: revenue $38.5 million, net income ($2,706), EPS $(0.22).

Period: the third quarter ended September 30, 2023
Revenue: $38.5 million
Net income: ($2,706)
EPS: $(0.22)
Result: reported results

Exact text from the filing

results for the third quarter ended September 30, 2023. Third Quarter 2023 Financial Highlights (compared to the prior year period) • Gross written premium increased 16.5% to $38.5 million • Net investment income increased 68.6% to $1.5 million • Expense ratio improved to 33.9%, down 600 bps from the prior year • Combined ratio of 120.8%; accident year combined

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Source: SEC EDGAR

accession 0000950170-23-062879

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