earnings
confidence high
sentiment negative
materiality 0.70
Conifer Q2 net loss of $0.32/diluted share; revenue falls 57.5% amid MGA shift
Presurance Holdings, Inc.
2024-Q2 EPS reported
-$0.32
revenue$49,926,000
- Net loss allocable to common shareholders of $4.0M, or $0.32 per diluted share.
- Gross written premiums fell 57.5% to $19.0M as company shifts to commission-based MGA model.
- Combined ratio worsened to 123.6% from 120.9%, driven by 91.5% loss ratio and 32.1% expense ratio.
- Personal lines gross written premium grew 23.0% to $12.2M; commercial lines dropped 80.5% to $6.8M.
- Book value per common share turned negative at ($0.10) vs $1.38 a year ago.