Conifer Holdings, Inc - CNFR STOCK NEWS

Conifer Holdings (Nasdaq: CNFR) reported a pre-tax loss of approximately $2.3 million for Q1 2021 due to Winter Storm Uri. The company is also increasing reserves for unpaid losses by around $5.7 million for prior accident years, particularly affecting its quick service restaurant line. CEO James Petcoff noted a significant reduction in exposure in Florida’s restaurant sector, down over 90% since 2019, amid rising litigation issues. The company is reevaluating its business focus while managing claims from previous years.

Conifer Holdings reported strong financial results for Q4 and FY 2020. Gross written premiums rose by 13.7% to $28.9 million in Q4, driven by commercial and personal lines growth. For the year, gross written premiums increased by 9.3% to $111.3 million. The company achieved a net income of $3.3 million ($0.34 per share) in Q4, recovering from a loss in the previous year. The book value per share improved to $4.59. Despite a slight dip in net earned premiums, positive trends in underwriting ratios and premium growth were highlighted.

Conifer Holdings, Inc. (Nasdaq: CNFR) announced a conference call/webcast scheduled for February 24, 2021, at 8:30 AM ET to discuss its fourth quarter financial results for the period ending December 31, 2020. The financial results will be released post-market on February 23, 2021. Interested participants can access the call via a webcast or conference call, with archiving available for later listening. The company provides customized insurance solutions nationwide and operates through various distribution channels.

Conifer Holdings reported third quarter 2020 results, showcasing a 10.2% increase in gross written premiums to $29.8 million. Although commercial lines gross written premiums rose 9.1%, the combined ratio for commercial lines worsened to 114.2%, impacted by reserve development. Personal lines achieved a strong 23.6% growth in gross written premiums, with an impressive combined ratio of 68.1%. Net income hit $0.5 million, translating to $0.06 per share, reversing a loss from the prior year.

Conifer Holdings (Nasdaq: CNFR) will host a conference call/webcast on November 12, 2020, at 8:30 AM ET to discuss its third-quarter financial results for the period ending September 30, 2020. The financial results will be released on November 11, 2020, after market close. The conference call can be accessed via a dedicated phone line or through a webcast available on Conifer's website. Audited consolidated financial statements are available in the company's annual 10-K report filed on March 12, 2020.

Conifer Holdings (Nasdaq: CNFR) has appointed Timothy M. Lamothe to its Board of Directors, following the departure of Jorge Morales. Lamothe, with over 38 years in the reinsurance industry including a senior role at Swiss Reinsurance, is expected to enhance Conifer's marketing strategies for its specialty insurance products. He will serve on the Nominating and Corporate Governance Committee. Additionally, Isolde G. O’Hanlon and R. Jamison Williams, Jr. have been appointed to the Compensation and Audit Committees, respectively.

Conifer Holdings reported a net income of $1.5 million ($0.16 per share) for Q2 2020, a recovery from a net loss of $2.9 million in Q2 2019. The gross written premium rose by 9.4% to $27.5 million, driven by growth in commercial specialty lines. The combined ratio improved to 100.5% from 113.0%, with a notable loss ratio reduction to 54.6%. The company also posted a book value per share of $4.51, an 18.4% increase from the previous quarter. Management remains conservative amid global uncertainties but focuses on profitable growth.

Conifer Holdings, Inc. (Nasdaq: CNFR) will hold a conference call/webcast on August 13, 2020, at 8:30 a.m. ET to discuss its financial results for the quarter ending June 30, 2020. The company plans to release these results on August 12, 2020, after market close. The conference call is open to investors, analysts, and the public. Details for accessing the call include a domestic number (844-868-8843) and an international number (412-317-6589). Archived webcasts will be available on the Conifer Holdings website.

Conifer Holdings, Inc. (NASDAQ: CNFR) reported its Q1 2020 results, revealing a net loss of $4.7 million, equating to $0.49 per share, worsened by market disruptions due to COVID-19. Despite this, gross written premiums increased by 3.6% to $25.1 million. The combined ratio stood at 111.6%, indicating an underwriting loss, although the accident year combined ratio improved to 94.7%. Management emphasized resilience with steady growth in commercial and personal lines, supported by strong retention.