Presurance Holdings, Inc. reported a significant decline in financial performance for the third quarter of 2025, with net earned premiums dropping to $6.8 million, a decrease of 53.3% compared to $14.6 million in the same period of 2024. The company recorded gross earned premiums of $17.0 million, down from $23.3 million year-over-year. The net loss from continuing operations was $4.0 million, or $0.32 per share, compared to a loss of $6.9 million, or $0.60 per share, in the prior year. For the nine months ended September 30, 2025, the company reported a net loss of $1.4 million, or $0.11 per share, compared to a profit of $48.9 million, or $4.00 per share, in the same period of 2024.
The decline in revenue is attributed to the company's strategic shift following the sale of its agency business, Conifer Insurance Services, in August 2024, which has significantly impacted its revenue streams. The company has transitioned to focusing primarily on underwriting revenues, which have also been in decline. Gross written premiums for the nine months ended September 30, 2025, were $51.9 million, down 11.1% from $58.4 million in the previous year. The commercial lines segment saw a dramatic decrease of 63% in gross written premiums, while personal lines increased by 24%.
Operationally, Presurance Holdings has undergone significant changes, including a reduction in employee headcount to just 12 following the sale of its agency business. The company has entered into new reinsurance agreements to manage its risk exposure, including a 50% quota share agreement for its homeowners business effective June 1, 2025. This agreement is expected to impact net written premiums, which fell by 51.4% to $5.4 million in the third quarter of 2025. The company also reported a combined ratio of 141.2% for the quarter, indicating underwriting losses.
Looking ahead, Presurance Holdings faces challenges in maintaining its capital position and regulatory compliance. The company has made additional contributions to its insurance subsidiaries to support their risk-based capital (RBC) ratios, which are currently above the minimum required levels. However, the company anticipates needing further liquidity to meet its obligations over the next twelve months. Management has indicated that they are exploring various financing options, including potential asset sales and bridge loans from investors, to ensure operational continuity.
About Conifer Holdings, Inc.
Conifer Holdings, Inc. is an insurance holding company specializing in specialty personal insurance lines, primarily offering homeowners coverage in select U.S. states. It operates through both admitted and excess and surplus lines markets, focusing on under-served regions. The company emphasizes disciplined underwriting, proactive claims management, and leveraging technology, with revenue mainly from premiums. Recent strategic shifts include divesting agency operations and focusing on core insurance activities.
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