Conifer closes LPT reinsurance deal with Fleming Re; $66.3M aggregate limit

Presurance Holdings, Inc.

Fleming Re covers $66.3M paid losses on $40.8M net reserves for accident years 2019 and prior.
Company retains $5.5M loss corridor; retention up to $46.3M.
Transaction provides $20M adverse development cover, strengthening balance sheet.
Part of strategic initiatives to accelerate long-term profitability.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Presurance Holdings, Inc. entered into loss portfolio transfer reinsurance agreement with Fleming Reinsurance Ltd valued at aggregate limit of $66.3 million of paid losses on $40.8 million of stated net reserves (effective 2022-11-01).

Action: entry
Counterparty: Fleming Reinsurance Ltd
Value: aggregate limit of $66.3 million of paid losses on $40.8 million of stated net reserves
Effective: 2022-11-01

Exact text from the filing

On November 1, 2022, Conifer Holdings, Inc. (the "Company"), entered into a loss portfolio transfer ("LPT") reinsurance agreement with Fleming Reinsurance Ltd ("Fleming Re").

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Presurance Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001564590-22-036848

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