Presurance Holdings, Inc. reported its financial results for the second quarter and first half of 2026, revealing a net income of $2.5 million, or $0.68 per share, compared to $2.1 million, or $1.17 per share, in the same period of 2025. For the six months ended June 30, 2026, the company achieved a net income of $5.2 million, or $1.66 per share, up from $2.6 million, or $1.47 per share, in the prior year. The company’s total revenue for the second quarter was $9.1 million, a decrease from $16.1 million in the same quarter of 2025, primarily due to a significant drop in gross earned premiums, which fell to $12.2 million from $16.5 million year-over-year.
The company experienced a notable decline in gross written premiums, which decreased by 38% to $13.1 million in the second quarter of 2026, down from $21.1 million in the same quarter of 2025. This decline was attributed to the company's strategic shift away from commercial lines, which are now in runoff, and a focus on personal lines, particularly homeowners insurance. The net earned premiums also fell by 28.8% to $6.8 million, reflecting the overall reduction in business volume. However, net written premiums increased significantly to $16.7 million, compared to $1.4 million in the prior year, largely due to the termination of a quota share reinsurance agreement that had previously ceded a substantial portion of premiums.
Operationally, Presurance Holdings has streamlined its focus to personal lines insurance, specifically homeowners insurance in Texas, Illinois, and Indiana. The company’s underwriting combined ratio improved to 69.5% for the second quarter of 2026, down from 121.1% in the same period of 2025, indicating a more efficient underwriting process. The company reported a significant reduction in losses and loss adjustment expenses, which decreased by 74.5% to $1.7 million in the second quarter, compared to $6.6 million in the same quarter of 2025. This improvement was partly due to favorable development related to legacy commercial lines.
In terms of strategic developments, Presurance Holdings executed a 1-for-7 reverse stock split on June 1, 2026, aimed at enhancing the marketability of its shares. The company also raised $14 million through a rights offering in February 2026, which was used to redeem $7.5 million of Series B Preferred Stock and to support its insurance subsidiaries. As of June 30, 2026, the company had total assets of $222.5 million, down from $239.3 million at the end of 2025, with total liabilities decreasing to $194.7 million from $230.3 million. The company’s outlook remains cautious, focusing on stabilizing its operations and enhancing its capital position while navigating the challenges posed by its legacy commercial lines.
About Presurance 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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