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Conifer Holdings Inc - CNFRL STOCK NEWS

Welcome to our dedicated page for Conifer Holdings news (Ticker: CNFRL), a resource for investors and traders seeking the latest updates and insights on Conifer Holdings stock.

Conifer Insurance Company specializes in providing customized insurance products for regional industry groups that are underserved by large national and international insurance companies. With a focus on the hospitality industry, Conifer offers comprehensive coverages for restaurants, bars, and taverns, supported by expert management, underwriting, and claims handling. Headquartered in Michigan, Conifer provides admitted and excess & surplus lines capabilities tailored to specific state requirements.

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Conifer Holdings (CNFR) reported third quarter 2024 results, highlighting a $61 million gain from the sale of its insurance agency operations to Bishop Street Underwriters, completed in August 2024. The company reported net income of $53.3 million but faced an adjusted operating loss of $7.4 million. Total Gross Written Premium declined 61% due to the company's shift away from commercial lines business. Personal lines premium grew 10% to $11 million, representing 73% of total gross written premium. The company expects future focus on select personal lines, particularly Texas and Midwest homeowners insurance, with commercial lines projected to represent 10% or less of written premiums going forward.

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Conifer Holdings (Nasdaq: CNFR) has announced significant changes to its business structure and leadership. The company has sold its insurance agency operations for $45 million, with potential additional earn-out payments of up to $25 million based on future performance. Conifer also divested its remaining interest in Sycamore Specialty Underwriters for $6.5 million.

As a result of these transactions, Conifer no longer has any insurance agency operations and expects a significant decline in revenue. In conjunction with these changes, Nick Petcoff has resigned as CEO and director, joining the purchaser of the sold operations. The Board has appointed Brian Roney, previously Conifer's President, as the new Chief Executive Officer.

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Conifer Holdings (Nasdaq: CNFR) reported Q2 2024 financial results, highlighting a strategic shift towards a non-risk bearing revenue model. Key points include:

- Expense ratio improved 5.8 percentage points to 32.1%
- Net investment income increased 11.2% to $1.5 million
- Gross written premiums decreased 57.5% to $19.0 million
- Net loss of $4.0 million, or $0.32 per share
- Adjusted operating loss of $3.6 million, or $0.30 per share

The company is transitioning to a production-based revenue approach through its MGA, Conifer Insurance Services. This strategic move aims to optimize resources and focus on commission revenues. Personal lines gross written premium increased 23.0% to $12.2 million, driven by growth in low-value dwelling business.

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Conifer Holdings, Inc. (Nasdaq: CNFR) has announced a conference call and webcast scheduled for August 14, 2024, at 8:30am Eastern Time to discuss their second quarter 2024 financial results. The company plans to release these results after market close on August 13, 2024. Investors, analysts, employees, and the public are invited to participate via webcast or conference call. The webcast will be archived for later viewing on Conifer's investor relations website. Participants are advised to refer to Conifer's audited consolidated financial statements and related notes in their annual form 10-K, filed with the SEC on April 1, 2024, for additional context.

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Conifer Holdings (CNFR) announced its 2024 Q1 financial results, showcasing a strategic shift towards non-risk bearing revenue models. The combined ratio improved to 96.7%, down 2.8 percentage points from Q1 2023. The expense ratio dropped to 34.7%, contributing to a net investment income rise of 18.7% to $1.6 million. Despite a gross written premium decrease of 32.9% to $24.3 million, net income for common shareholders reached $74,000, or $0.01 per share. The company's commercial lines saw a significant premium decline of 56%, while personal lines grew by 59.6%.

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Conifer Holdings, Inc. (Nasdaq: CNFR) will host a conference call/webcast on May 15, 2024, to discuss financial results for the first quarter ended March 31, 2024. The Company plans to release its first-quarter financial results on May 14, 2024. Investors, analysts, employees, and the public can listen to the conference call via webcast or phone.

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Conifer Holdings, Inc. (CNFR) announced its financial results for the fourth quarter and year ended December 31, 2023. The company saw a 4.2% increase in gross written premium to $143.8 million, with net investment income rising by 81.6% to $5.5 million. CEO Nick Petcoff highlighted the company's efforts to strengthen reserves and transition to a production-based revenue model. Conifer also shifted focus to its managing general agency, expecting 100% of future commercial premium to run through it. Despite challenges in the insurance landscape, the company aims for greater agility and stability in its operations.
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Conifer Holdings, Inc. (CNFR) partners with Accelerant, a data-driven risk exchange, to enhance risk assessment and deliver tailored specialty insurance products to niche commercial clients. Accelerant's 'A-' financial strength rating from A.M. Best adds credibility to the collaboration, aiming to drive sustainable growth and innovation in the specialty commercial insurance market.
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Conifer Holdings, Inc. (CNFR) will host a conference call/webcast on April 5, 2024, to discuss Q4 2023 financial results. Investors can access the webcast or call in to listen. The company plans to release the financial results on April 4, 2024, after the market closes.
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Conifer Holdings, Inc. (CNFR) announces a strategic partnership with Palomar Holdings, Inc. to offer specialized insurance solutions for the cannabis industry through PSIC and PESIC. The partnership aims to address the unique risks faced by cannabis businesses, leveraging expertise and networks to provide comprehensive coverage.
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FAQ

What does Conifer Insurance Company specialize in?

Conifer Insurance Company specializes in providing customized insurance products for regional industry groups, particularly in the hospitality sector.

Where is Conifer Insurance Company headquartered?

Conifer Insurance Company is headquartered in Michigan.

What types of businesses does Conifer Insurance Company primarily serve?

Conifer Insurance Company primarily serves businesses in the hospitality industry, including restaurants, bars, and taverns.

What specific capabilities does Conifer Insurance Company offer?

Conifer Insurance Company offers both admitted and excess & surplus lines capabilities tailored to meet state-specific requirements.

What makes Conifer Insurance Company stand out from other insurance providers?

Conifer Insurance Company stands out by focusing on regional industry groups underserved by larger national and international insurance companies.

How does Conifer Insurance Company support its clients?

Conifer Insurance Company supports its clients with expert management, underwriting, and claims handling services.

What is the key expertise of Conifer Insurance Company?

Conifer Insurance Company's core expertise lies in servicing businesses operating in the hospitality industry.

How can businesses benefit from partnering with Conifer Insurance Company?

Businesses operating in the hospitality industry can benefit from comprehensive coverages and tailored insurance solutions provided by Conifer Insurance Company.

What is the contact information for Conifer Insurance Company?

For further information, you can contact Jessica Gulis at 248.559.0840 or ir@cnfrh.com.

Where can I access the archived webcast of Conifer Insurance Company's events?

The webcast will be archived and available for replay on the Conifer Holdings website at IR.CNFRH.com.
Conifer Holdings Inc

Nasdaq:CNFRL

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