Conifer Holdings Reports 2023 Fourth Quarter and Year End Financial Results; Announces Strategic Shift to Production Based Revenue
- Company to Host Conference Call at 8:30 AM ET on Friday, April 5, 2024 Company to Host Conference Call at 8:30 AM ET on Friday, April 5, 2024
- 04/04/2024
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Conifer Announces Commercial Lines Capacity Partnership with Accelerant
- TROY, Mich., April 04, 2024 (GLOBE NEWSWIRE) -- Conifer Holdings, Inc. (Nasdaq: CNFR) (“Conifer”) today announced commencement of a capacity relationship with Accelerant, a data-driven risk exchange, connecting underwriters of specialty insurance risk with risk capital providers. Accelerant holds a financial strength rating of “A-” (Excellent) from A.M. Best.
- 04/04/2024
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Conifer Holdings Schedules Fourth Quarter 2023 Earnings Conference Call/Webcast for April 5, 2024
- TROY, Mich., April 03, 2024 (GLOBE NEWSWIRE) -- Conifer Holdings, Inc. (Nasdaq: CNFR) announced today that it will host a conference call/webcast on Friday, April 5, 2024 at 8:30am Eastern Time to discuss financial results for the fourth quarter which ended on December 31, 2023. The Company plans to release its fourth quarter financial results after the market closes on Thursday, April 4, 2024.
- 04/03/2024
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Conifer Announces Strategic Partnership with Palomar Serving the Cannabis Industry
- TROY, Mich., April 01, 2024 (GLOBE NEWSWIRE) -- Conifer Holdings, Inc. (Nasdaq: CNFR) (“Conifer”) today announced that it recently launched a strategic partnership with Palomar Holdings, Inc. (“Palomar”) aimed at providing comprehensive coverage tailored specifically for the cannabis industry on Palomar Specialty Insurance Company (“PSIC”) and Palomar Excess and Surplus Insurance Company (“PESIC”) paper. PSIC and PESIC have a financial strength rating of “A-” (Excellent) from A.M. Best.
- 04/01/2024
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AM Best Downgrades and Withdraws Credit Ratings of Conifer Holdings, Inc. and Subsidiaries
- OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has downgraded the Financial Strength Rating to C (Weak) from B+ (Good) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “ccc” (Weak) from “bbb-” (Good) of Conifer Insurance Company (CIC) and White Pine Insurance Company (White Pine), subsidiaries of Conifer Holdings, Inc. (CHI) [NASDAQ: CNFR], a publicly traded property/casualty insurance holding company. Additionally, AM Best has downgraded the Long-Term ICR to “c” (Poor) from “bb-” (Fair) of.
- 03/14/2024
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Conifer Holdings Names New Board Chair; Appoints New Director
- TROY, Mich., Jan. 17, 2024 (GLOBE NEWSWIRE) -- Conifer Holdings, Inc. (Nasdaq: CNFR) (“Conifer” or the “Company”) announced today that its Board of Directors has named Isolde G. O'Hanlon to the role of Acting Board Chair, effective immediately. Ms. O'Hanlon was elected to the Conifer Board of Directors in 2017. She has served as Chair of the Audit Committee since March 2019, and also serves as a member of the Compensation Committee and the Finance & Investment Committee.
- 01/17/2024
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Conifer Holdings, Inc. (CNFR) Q3 2023 Earnings Call Transcript
- Conifer Holdings, Inc. (CNFR) Q3 2023 Earnings Call Transcript
- 11/10/2023
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Conifer Holdings Reports 2023 Third Quarter Financial Results
- Company to Host Conference Call at 8:30 AM ET on Friday, November 10, 2023 Company to Host Conference Call at 8:30 AM ET on Friday, November 10, 2023
- 11/09/2023
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Conifer Holdings Schedules Third Quarter 2023 Earnings Conference Call/Webcast for November 10, 2023
- TROY, Mich., Oct. 27, 2023 (GLOBE NEWSWIRE) -- Conifer Holdings, Inc. (Nasdaq: CNFR) announced today that it will host a conference call/webcast on Friday, November 10, 2023 at 8:30am Eastern Time to discuss financial results for the third quarter which ended on September 30, 2023. The Company plans to release its third quarter financial results after the market closes on Thursday, November 9, 2023.
- 10/27/2023
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Nick Petcoff to Become Chief Executive Officer of Conifer Holdings, Inc.
- BIRMINGHAM, Mich., Oct. 06, 2023 (GLOBE NEWSWIRE) -- Conifer Holdings, Inc. (Nasdaq: CNFR) (“Conifer” or the “Company”) today announced that Nicholas J. Petcoff will become sole Chief Executive Officer of the Company, effective December 31, 2023. Consequently, James G. Petcoff will be stepping down as Chairman and Co-CEO, but will remain with the Company as a director.
- 10/06/2023
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Core Specialty Announces Purchase of Security & Alarm Business Renewal Rights and Related Unearned Premium Reserve from Conifer Holdings, Inc.
- CINCINNATI, Sept. 14, 2023 (GLOBE NEWSWIRE) -- Core Specialty Insurance Holdings, Inc. (“Core Specialty”) announced today that Core Specialty and its subsidiaries have entered into a series of transactions with Conifer Holdings, Inc. (“Conifer”) to acquire Conifer's Security & Alarm Business. The Security & Alarm Business provides general liability, excess/umbrella, and selected other coverages to the niche Security Guards, Alarm Contractors, Private Investigators, and Trade Contractors markets. As part of the transaction, Core Specialty has agreed to (1) pay Conifer $2.5 million in cash for the exclusive right to underwrite the Security & Alarm Business through October 2025, and the renewal rights to such business thereafter, (2) assume the unearned premium reserve associated with the Security & Alarm Business, and (3) purchase $5.0 million of Conifer's 9.75% Senior Unsecured Notes due 2028 (the “New Notes”) which are being offered on a reasonable best efforts basis pursuant to a Conifer registration statement on Form S-4 and Form S-1, as amended, including a prospectus, which was filed with the Securities and Exchange Commission (the "SEC") and was declared effective by the SEC. Policies for the Security & Alarm Business will be issued by Core Specialty insurance subsidiaries, which are rated A- XII (Excellent) by AM Best, effective with the Transaction closing. The Security & Alarm Business produced $48 million of gross premiums written in 2022.
- 09/14/2023
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Conifer Holdings, Inc. (CNFR) Q2 2023 Earnings Call Transcript
- Conifer Holdings, Inc. (NASDAQ:CNFR ) Q2 2023 Earnings Conference Call August 10, 2023 8:30 AM ET Company Participants Brian Roney – President Jim Petcoff – Executive Chairman and Co-Chief Executive Officer Nick Petcoff – Director and Co-Chief Executive Officer Harold Meloche – Chief Financial Officer Conference Call Participants Paul Newsome – Piper Sandler Operator Good morning, everyone, and welcome to Conifer Holdings' Second Quarter 2023 Investor Conference Call. All participants will be in a listen-only mode.
- 08/10/2023
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Conifer Holdings, Inc. (CNFR) Reports Q2 Loss, Tops Revenue Estimates
- Conifer Holdings, Inc. (CNFR) came out with a quarterly loss of $0.39 per share in line with the Zacks Consensus Estimate. This compares to loss of $0.75 per share a year ago.
- 08/09/2023
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Conifer Holdings Reports 2023 Second Quarter Financial Results
- Company to Host Conference Call at 8:30 AM ET on Thursday, August 10, 2023 Company to Host Conference Call at 8:30 AM ET on Thursday, August 10, 2023
- 08/09/2023
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Conifer Holdings, Inc. Announces Closing of Exchange Offer
- TROY, Mich., Aug. 08, 2023 (GLOBE NEWSWIRE) -- Conifer Holdings, Inc. (NASDAQ: CNFR) (“Conifer” or the “Company”), announced today that it has closed its previously announced offer to exchange (the “Exchange Offer”) its outstanding 6.75% Senior Unsecured Notes due 2023 (the “Existing Notes”) for 9.75% Senior Unsecured Notes due 2028 (the “New Notes”) to be issued by the Company. The Exchange Offer expired at 6:00 p.m., New York City time, on August 1, 2023 (the “Expiration Time”).
- 08/08/2023
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Conifer Holdings Announces Estimated Storm Losses for Second Quarter 2023
- BIRMINGHAM, Mich., July 28, 2023 (GLOBE NEWSWIRE) -- Conifer Holdings, Inc. (Nasdaq: CNFR) (“Conifer” or the “Company”) today announced preliminary unaudited pre-tax net catastrophe loss estimates for the second quarter ended June 30, 2023.
- 07/28/2023
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Here's Why You Should Add RLI Stock in Your Portfolio Now
- Strong underwriting results, growth in net investment income and improving segmental performance should poise RLI well for growth.
- 06/02/2023
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Conifer Holdings, Inc. (CNFR) Surpasses Q1 Earnings Estimates
- Conifer Holdings, Inc. (CNFR) came out with quarterly earnings of $0.03 per share, beating the Zacks Consensus Estimate of $0.01 per share. This compares to loss of $0.32 per share a year ago.
- 05/10/2023
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AIG Tops Q1 Earnings on Underwriting Gains, Ups Dividend
- Business generation and higher retention levels support American International's (AIG) North America Commercial Lines business.
- 05/05/2023
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AON Q1 Earnings Miss on Higher Operating Costs, FCF Dips 17%
- AON's first-quarter adjusted operating margin expands 70 bps to 38.7%.
- 04/28/2023
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Conifer Holdings Schedules First Quarter 2023 Earnings Conference Call/Webcast for May 11, 2023
- TROY, Mich., April 27, 2023 (GLOBE NEWSWIRE) -- Conifer Holdings, Inc. (Nasdaq: CNFR) announced today that it will host a conference call/webcast on Thursday, May 11, 2023 at 8:30am Eastern Time to discuss financial results for the first quarter ended March 31, 2023. The Company plans to release its first quarter financial results after the market closes on Wednesday, May 10, 2023.
- 04/27/2023
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Conifer Holdings, Inc. (CNFR) Upgraded to Buy: Here's What You Should Know
- Conifer Holdings, Inc. (CNFR) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
- 03/14/2023
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Conifer Holdings, Inc. (CNFR) Q3 2022 Earnings Call Transcript
- Conifer Holdings, Inc. (NASDAQ:CNFR ) Q3 2022 Earnings Conference Call November 10, 2022 8:30 AM ET Company Participants Brian Roney - President Jim Petcoff - Executive Chairman and Co-Chief Executive Officer Nick Petcoff - Co-Chief Executive Officer Harold Meloche - Chief Financial Officer Conference Call Participants Paul Newsome - Piper Sandler Operator Good morning, and welcome to Conifer Holdings' Third Quarter 2022 Investor Call. [Operator Instructions] Please note, this event is being recorded.
- 11/12/2022
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Conifer Holdings, Inc. (CNFR) Reports Q3 Loss, Tops Revenue Estimates
- Conifer Holdings, Inc. (CNFR) delivered earnings and revenue surprises of 0% and 7.67%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?
- 11/09/2022
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Conifer Holdings Schedules Third Quarter 2022 Earnings Conference Call/Webcast for November 10, 2022
- BIRMINGHAM, Mich., Oct. 27, 2022 (GLOBE NEWSWIRE) -- Conifer Holdings, Inc. (Nasdaq: CNFR) announced today that it will host a conference call/webcast on Thursday, November 10, 2022 at 8:30am Eastern Time to discuss financial results for the third quarter ended September 30, 2022. The Company plans to release its third quarter financial results after the market closes on Wednesday, November 9, 2022.
- 10/27/2022
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Insurance Stocks Moving In Friday's Intraday Session - Bright Health Gr (NYSE:BHG), FedNat Holding (NASDAQ:FNHC), Fanhua (NASDAQ:FANH), Universal Insurance Hldgs (NYSE:UVE), RenaissanceRe Holdings (NYSE:RNR), Conifer Holdings (NASDAQ:CNFR), SelectQuote (NYSE:SLQT), Huize Holding (NASDAQ:HUIZ), NI Holdings (NASDAQ:NODK), Tian Ruixiang Holdings (NASDAQ:TIRX), ProAssurance (NYSE:PRA), HCI Group (NYSE:HCI)
- According to Benzinga Pro following are the gainers and losers in Insurance industry for today's Intraday session.
- 09/30/2022
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Conifer Holdings, Inc. (CNFR) CEO Jim Petcoff on Q2 2022 Results - Earnings Call Transcript
- Conifer Holdings, Inc. (NASDAQ:CNFR ) Q2 2022 Earnings Conference Call August 11, 2022 8:30 AM ET CompanyParticipants Jim Petcoff - Chairman and Co-CEO Harold Meloche - CFO Brian Roney - President Nick Petcoff - EVP and Director Conference Call Participants Paul Newsome - Piper Sandler Operator Good morning, and welcome to Conifer Holdings Second Quarter 2022 Investor Conference Call. All participants will be in listen-only mode.
- 08/11/2022
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Conifer Holdings, Inc. (CNFR) Reports Q2 Loss, Tops Revenue Estimates
- Conifer Holdings, Inc. (CNFR) delivered earnings and revenue surprises of -257.14% and 4.50%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?
- 08/10/2022
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Conifer Holdings, Inc. (CNFR) CEO Jim Petcoff on Q1 2022 Results - Earnings Call Transcript
- Start Time: 08:30 January 1, 0000 9:04 AM ET Conifer Holdings, Inc. (NASDAQ:CNFR ) Q1 2022 Earnings Conference Call May 12, 2022, 08:30 AM ET Company Participants Jim Petcoff - Chairman and CEO Harold Meloche - CFO Brian Roney - President Nick Petcoff - EVP and Director Conference Call Participants Paul Newsome - Piper Sandler Bob Farnam - Boenning & Scattergood Greg Peters - Raymond James Operator Good morning, and welcome to Conifer Holdings First Quarter 2022 Investor Conference Call. All participants will be in listen-only mode.
- 05/14/2022
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Conifer Holdings, Inc. (CNFR) Reports Q1 Loss, Misses Revenue Estimates
- Conifer Holdings, Inc. (CNFR) delivered earnings and revenue surprises of -146.15% and 4.41%, respectively, for the quarter ended March 2022. Do the numbers hold clues to what lies ahead for the stock?
- 05/11/2022
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Conifer Holdings, Inc. (CNFR) Expected to Beat Earnings Estimates: Should You Buy?
- Conifer Holdings, Inc. (CNFR) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
- 05/04/2022
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Conifer Holdings, Inc. (CNFR) CEO Jim Petcoff on Q4 2021 Results - Earnings Call Transcript
- Conifer Holdings, Inc. (CNFR) CEO Jim Petcoff on Q4 2021 Results - Earnings Call Transcript
- 03/03/2022
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Conifer Holdings, Inc. (CNFR) Reports Q4 Loss, Tops Revenue Estimates
- Conifer Holdings, Inc. (CNFR) delivered earnings and revenue surprises of 0% and 1.61%, respectively, for the quarter ended December 2021. Do the numbers hold clues to what lies ahead for the stock?
- 03/02/2022
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Conifer Holdings, Inc. (CNFR) CEO Jim Petcoff on Q3 2021 Results - Earnings Call Transcript
- Conifer Holdings, Inc. (CNFR) CEO Jim Petcoff on Q3 2021 Results - Earnings Call Transcript
- 11/11/2021
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Conifer Holdings, Inc. (CNFR) Reports Q3 Loss, Misses Revenue Estimates
- Conifer Holdings, Inc. (CNFR) delivered earnings and revenue surprises of -50.00% and -4.46%, respectively, for the quarter ended September 2021. Do the numbers hold clues to what lies ahead for the stock?
- 11/10/2021
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Will Conifer Holdings, Inc. (CNFR) Report Negative Earnings Next Week? What You Should Know
- Conifer Holdings, Inc. (CNFR) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
- 11/03/2021
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Conifer Holdings, Inc. (CNFR) CEO James Petcoff on Q2 2021 Results - Earnings Call Transcript
- Conifer Holdings, Inc. (CNFR) CEO James Petcoff on Q2 2021 Results - Earnings Call Transcript
- 08/12/2021
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Conifer Shares Increase Over 45% Pre-Market: Why It Happened
- The shares of Conifer Holdings Inc (NASDAQ: CNFR) increased over 45% pre-market. This is why it happened.
- 08/12/2021
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Recap: Conifer Holdings Q2 Earnings
- Shares of Conifer Holdings (NASDAQ:CNFR) rose 44.0% in after-market trading after the company reported Q2 results. Quarterly Results Earnings per share fell 900.00% year over year to ($0.40), which missed the estimate of ($0.14).
- 08/11/2021
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Conifer Shares Increased Over 30% After Hours: Why It Happened
- The shares of Conifer Holdings Inc (NASDAQ: CNFR) increased over 30% after hours. This is why it happened.
- 08/11/2021
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Conifer Holdings, Inc. (CNFR) Reports Q2 Loss, Tops Revenue Estimates
- Conifer Holdings, Inc. (CNFR) delivered earnings and revenue surprises of -185.71% and 38.90%, respectively, for the quarter ended June 2021. Do the numbers hold clues to what lies ahead for the stock?
- 08/11/2021
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Analysts Estimate Conifer Holdings, Inc. (CNFR) to Report a Decline in Earnings: What to Look Out for
- Conifer Holdings, Inc. (CNFR) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
- 08/04/2021
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Conifer Holdings: Q1 Earnings Insights
- Shares of Conifer Holdings (NASDAQ:CNFR) fell after the company reported Q1 results. Quarterly Results Earnings per share were down 157.14% year over year to ($0.72), which missed the estimate of ($0.46).
- 05/11/2021
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Earnings Preview: Conifer Holdings, Inc. (CNFR) Q1 Earnings Expected to Decline
- Conifer Holdings, Inc. (CNFR) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
- 05/04/2021
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Conifer Holdings Announces Preliminary 2021 First Quarter Financial Results; Provides Catastrophe Loss Estimate from Winter Storm Uri and Prior Year Reserve Strengthening
- BIRMINGHAM, Mich., April 21, 2021 (GLOBE NEWSWIRE) -- Conifer Holdings, Inc. (Nasdaq: CNFR) (“Conifer” or the “Company”) today announced that it incurred pre-tax losses of approximately $2.3 million, net of expected reinsurance recoveries, during the first quarter ending March 31, 2021, due to Winter Storm Uri. These estimates are based on management's best estimates as of the date of this press release.
- 04/21/2021
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New Strong Sell Stocks for April 5th
- AGFS, BCE, UNM, RYAAY, and CNFR have been added to the Zacks Rank #5 (Strong Sell) List on April 5, 2021
- 04/05/2021
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Conifer Holdings, Inc. (CNFR) CEO James Petcoff on Q4 2020 Results - Earnings Call Transcript
- Conifer Holdings, Inc. (CNFR) CEO James Petcoff on Q4 2020 Results - Earnings Call Transcript
- 02/28/2021
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Conifer Holdings, Inc. (CNFR) Reports Q4 Loss, Tops Revenue Estimates
- Conifer Holdings, Inc. (CNFR) delivered earnings and revenue surprises of -766.67% and 23.61%, respectively, for the quarter ended December 2020. Do the numbers hold clues to what lies ahead for the stock?
- 02/23/2021
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Conifer Holdings, Inc. (CNFR) CEO James Petcoff on Q3 2020 Results - Earnings Call Transcript
- Conifer Holdings, Inc. (CNFR) CEO James Petcoff on Q3 2020 Results - Earnings Call Transcript
- 11/14/2020
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Recap: Conifer Holdings Q3 Earnings
- Shares of Conifer Holdings (NASDAQ:CNFR) were flat after the company reported Q3 results. Quarterly Results Earnings per share fell 33.33% year over year to ($0.24), which missed the estimate of ($0.03).
- 11/11/2020
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Conifer Holdings Schedules Third Quarter 2020 Earnings Conference Call/Webcast for November 12, 2020
- BIRMINGHAM, Mich., Oct. 29, 2020 (GLOBE NEWSWIRE) -- Conifer Holdings, Inc. ( Nasdaq:CNFR ) announced today that it will host a conference call/webcast on Thursday, November 12, 2020 at 8:30am Eastern Time to discuss financial results for the third quarter ended September 30, 2020. The Company plans to release its third quarter financial results after the market closes on Wednesday, November 11, 2020.
- 10/29/2020
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A Quick Analysis On Conifer Holdings' (NASDAQ:CNFR) CEO Salary
- Jim Petcoff became the CEO of Conifer Holdings, Inc. (NASDAQ:CNFR) in 2009, and we think it's a good time to look at...
- 08/19/2020
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Conifer Holdings, Inc. 2020 Q2 - Results - Earnings Call Presentation
- The following slide deck was published by Conifer Holdings, Inc. in conjunction with their 2020 Q2 earnings call..
- 08/14/2020
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Conifer Holdings, Inc. (CNFR) CEO Jim Petcoff on Q2 2020 Results - Earnings Call Transcript
- Conifer Holdings, Inc. (NASDAQ:CNFR) Q2 2020 Earnings Conference Call August 13, 2020 08:30 ET Company Participants Adam Prior - Investor Relations Jim Petcoff - Chairman and Chief Executive Officer Nick Petcoff - Executive Vice President and Secretary Harold Meloche - Chief Financial Officer Brian Roney - President Conference Call Participants Paul Newsome - Piper Sandler Bob Farnam - Boenning & Scattergood Greg Peters - Raymond James Presentation Operator Good day and welcome to the Conifer Holdings, Inc.
- 08/13/2020
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Recap: Conifer Holdings Q2 Earnings
- Shares of Conifer Holdings (NASDAQ:CNFR) moved higher by 10.27% in after-market trading after the company reported Q2 results.Quarterly Results Earnings per share rose 94.03% over the past year to ($0.04), which beat the estimate of ($0.06).Revenue of $21,758,000 up by 1.92% year over year, which beat the estimate of $21,520,000.Looking Ahead Conifer Holdings hasn't issued any earnings guidance for the time being.View more earnings on CNFRConifer Holdings hasn't issued any revenue guidance for the time being.Recent Stock Performance Company's 52-week high was at $4.60Company's 52-week low was at $2.00Price action over last quarter: down 15.00%Company Overview Conifer Holdings Inc is an insurance company. The company's operating segment includes Commercial Lines; Personal Lines; Under-writing; Wholesale Agency and Corporate. It generates maximum revenue from the Under-writing segment. Commercial lines segment offers coverage for property, liability, automobile and other miscellaneous coverage primarily to owner-operated small and mid-sized businesses, professional organizations and hospitality businesses such as restaurants, bars, and taverns. The Personal lines segment offers coverage for low-value dwelling and wind-exposed homeowners. Its revenues are derived from premiums earned, investment income, installment fees, policy issuance fees, and commission income.See more from Benzinga * Earnings Scheduled For August 12, 2020 * Earnings Outlook for Conifer Holdings(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- 08/12/2020
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Conifer Holdings Reports 2020 Second Quarter Financial Results
- Company to Host Conference Call at 8:30 AM ET on Thursday, August 13, 2020BIRMINGHAM, Mich., Aug. 12, 2020 (GLOBE NEWSWIRE) -- Conifer Holdings, Inc. (Nasdaq: CNFR) (“Conifer” or the “Company”) today announced results for the second quarter ended June 30, 2020. Second Quarter 2020 Financial Highlights (compared to the prior year period) * Gross written premium increased 9.4% to $27.5 million * The Company’s overall combined ratio was 100.5% (accident year combined ratio was 86.6%) * Commercial lines represented approximately 93% of gross written premium * Commercial Lines combined ratio improved 6 percentage points to 101.7% (accident year combined ratio was 86.5%) * Personal Lines combined ratio was 85.7% (accident year combined ratio was 86.9%) * Net income of $1.5 million, or $0.16 per share, based on 9.6 million average shares outstanding * Book value per share of $4.51 as of June 30, 2020, an improvement of 18.4% sequentially from $3.81 at March 31, 2020Management Comments James Petcoff, Chairman and CEO, commented, “We are pleased to report solid financial results for the period, and a return to profitability, led by growth in our core lines of business. We are continuing to take a conservative approach during an uncertain period due to the global pandemic, but we believe that our continued focus on our core specialty lines has produced anticipated positive results. We remain focused on improving our overall expense structure, and growing steadily in the lines of business where Conifer can be a profitable market leader. “2020 Second Quarter Financial Results Overview At and for the Three Months Ended June 30, At and for the Six Months Ended June 30, 2020 2019 % Change 2020 2019 % Change (dollars in thousands, except share and per share amounts) Gross written premiums$27,545 $25,169 9.4% $52,629 $49,385 6.6% Net written premiums 23,065 21,434 7.6% 44,116 41,756 5.7% Net earned premiums 21,758 21,349 1.9% 43,775 43,036 1.7% Net investment income 863 1,051 -17.9% 1,817 1,961 -7.3% Net realized investment gains 245 715 ** 1,173 734 ** Change in fair value of equity investments 1,576 (915) ** (1,510) 350 Other gains 145 - ** 260 - ** Net income (loss) 1,505 (2,884) ** (3,220) (3,564) ** Net income (loss) per share, diluted$0.16 $(0.34) $(0.34) $(0.42) Adjusted operating income (loss)* (461) (5,597) ** (3,143) (9,844) ** Adjusted operating income (loss) per share, diluted*$(0.04) $(0.67) ** $(0.33) $(1.17) ** Book value per common share outstanding$4.51 $4.89 $4.51 $4.89 Weighted average shares outstanding, basic and diluted 9,595,668 8,370,782 9,594,221 8,411,835 Underwriting ratios: Loss ratio (1) 54.6% 67.1% 59.6% 66.8% Expense ratio (2) 45.9% 45.9% 46.5% 43.7% Combined ratio (3) 100.5% 113.0% 106.1% 110.5% * The "Definitions of Non-GAAP Measures" section of this release defines and reconciles data that are not based on generally accepted accounting principles. ** Percentage is not meaningful (1) The loss ratio is the ratio, expressed as a percentage, of net losses and loss adjustment expenses to net earned premiums and income from underwriting operations. (2) The expense ratio is the ratio, expressed as a percentage, of policy acquisition costs and other underwriting expenses to net earned premiums and other income from underwriting operations. (3) The combined ratio is the sum of the loss ratio and the expense ratio. A combined ratio under 100% indicates an underwriting profit. A combined ratio over 100% indicates an underwriting loss. 2020 Second Quarter Premiums Gross Written Premiums Gross written premiums increased 9.4% in the second quarter of 2020 to $27.5 million, compared to $25.2 million in the prior year period. The increase was largely due to growth in commercial specialty lines, as retention levels remain higher than historical averages in addition to improved rate activity. The overall premium increase was supplemented by continued growth in the Company’s personal lines, driven by its low-value dwelling line of business.Net Earned Premiums Net earned premiums increased 1.9% to $21.8 million for the second quarter of 2020, compared to $21.3 million for the prior year period.Commercial Lines Financial and Operational Review Commercial Lines Financial Review Three Months Ended June 30, Six Months Ended June 30, 2020 2019 % Change 2020 2019 % Change (dollars in thousands) Gross written premiums$25,600 $23,459 9.1% $49,044 $46,043 6.5% Net written premiums 21,377 20,178 5.9% 41,064 39,484 4.0% Net earned premiums 20,105 20,154 -0.2% 40,536 40,852 -0.8% Underwriting ratios: Loss ratio 55.9% 62.1% 60.8% 61.3% Expense ratio 45.8% 45.6% 46.5% 43.0% Combined ratio 101.7% 107.7% 107.3% 104.3% Contribution to combined ratio from net (favorable) adverse prior year development 15.2% 7.2% 16.6% 5.8% Accident year combined ratio (1) 86.5% 100.5% 90.7% 98.5% (1) The accident year combined ratio is the sum of the loss ratio and the expense ratio, less changes in net ultimate loss estimates from prior accident year loss reserves. The accident year combined ratio provides management with an assessment of the specific policy year's profitability and assists management in their evaluation of product pricing levels and quality of business written. The Company’s commercial lines of business, representing 93% of total gross written premium in the second quarter of 2020, primarily consists of property and liability coverage offered to owner-operated small- to mid-sized businesses. Commercial lines gross written premium increased 9.1% in the second quarter of 2020, as the Company continues to shift its mix towards more profitable specialty lines.Commercial lines combined ratio was 101.7% for the three months ended June 30, 2020, compared to 107.7% in the prior year period, largely due to a 6.2 percentage point improvement in the loss ratio. Commercial lines accident year combined ratio was 86.5% for the quarter.Personal Lines Financial and Operational Review Personal Lines Financial Review Three Months Ended June 30, Six Months Ended June 30, 2020 2019 % Change 2020 2019 % Change (dollars in thousands) Gross written premiums$1,945 $1,710 13.7% $3,585 $3,342 7.3% Net written premiums 1,688 1,256 34.4% 3,052 2,272 34.3% Net earned premiums 1,653 1,195 38.3% 3,239 2,184 48.3% Underwriting ratios: Loss ratio 39.6% 147.8% 44.6% 165.7% Expense ratio 46.1% 50.1% 46.6% 57.4% Combined ratio 85.7% 197.9% 91.2% 223.1% Contribution to combined ratio from net (favorable) adverse prior year development (1.2)% 74.8% 1.4% 88.5% Accident year combined ratio 86.9% 123.1% 89.8% 134.6% Personal lines, representing 7% of total gross written premium for the second quarter of 2020, consists largely of low-value dwelling homeowner’s insurance. Personal lines gross written premium increased 13.7% to $2.0 million in the second quarter of 2020 compared to the prior year period, largely due to renewed growth in the Company’s low-value dwelling line of business.Personal lines combined ratio was 85.7% for the three months ended June 30, 2020, compared to 197.9% in the prior year period. Personal lines loss ratio for the three months ended June 30, 2020 improved considerably to 39.6%, compared to 147.8% in the prior year period, largely driven by significantly lower losses from wind-exposed homeowner’s lines (specifically Florida homeowners).The personal lines accident year combined ratio was 86.9% for the quarter.Combined Ratio Analysis Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (dollars in thousands) Underwriting ratios: Loss ratio54.6% 67.1% 59.6% 66.8% Expense ratio45.9% 45.9% 46.5% 43.7% Combined ratio100.5% 113.0% 106.1% 110.5% Contribution to combined ratio from net (favorable) adverse prior year development13.9% 11.2% 15.4% 10.1% Accident year combined ratio86.6% 101.8% 90.7% 100.4% Combined Ratio The Company's combined ratio was 100.5% for the quarter ended June 30, 2020, compared to 113.0% for the same period in 2019. The Company’s accident year combined ratio for the quarter ended June 30, 2020 was 86.6%, compared to 101.8% in the prior year period.Loss Ratio: The Company’s losses and loss adjustment expenses were $11.9 million for the three months ended June 30, 2020, compared to $14.4 million in the prior year period. This resulted in a lower loss ratio of 54.6%, compared to 67.1% in the prior year period.Expense Ratio: The expense ratio was 45.9% for the second quarter of 2020, remaining flat compared to the prior year period.Net Investment Income Net investment income was $863,000 during the quarter ended June 30, 2020, compared to $1.1 million in the prior year period. Net realized gains during the second quarter were $245,000, compared to net realized gain of $715,000 in the prior year period.Change in Fair Value of Equity Securities During the quarter, the Company reported a gain from change in fair value of equity investments of $1.
- 08/12/2020
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Earnings Outlook for Conifer Holdings
- On Wednesday, August 12, Conifer Holdings (NASDAQ: CNFR) will release its latest earnings report. Benzinga's outlook for Conifer Holdings is included in the following report.Earnings and Revenue Wall Street analysts see Conifer Holdings reporting EPS of $-0.06 per share on revenue of $21.52 million. In the same quarter last year, Conifer Holdings posted EPS at $-0.67 per share on sales of $21.35 million. The Wall Street consensus estimate for earnings would represent a 91.04% increase for the company. Conifer Holdings's reported EPS has stacked up against analyst estimates in the past like this:Quarter Q1 2020 Q4 2020 Q3 2019 Q2 2019 EPS Estimate -0.10 -0.17 -0.11 -0.11 EPS Actual -0.28 -0.35 -0.18 -0.67 Revenue Estimate 21.55 M 24.94 M 23.69 M 23.63 M Revenue Actual 22.02 M 23.28 M 22.77 M 21.35 M Stock Performance Over the last 52-week period, shares are down 36.46%. Given that these returns are generally negative, long-term shareholders are probably a little upset going into this earnings release.View more earnings on CNFRDon't be surprised to see the stock move on comments made during its conference call. Conifer Holdings is scheduled to hold the call at 08:30:00 ET and can be accessed here: https://78449.choruscall.com/dataconf/productusers/cnfr/mediaframe/40212/indexr.htmlSee more from Benzinga * Aspen Technology Earnings Preview * Preview: Blue Bird's Earnings * Earnings Outlook for EnerSys(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- 08/11/2020
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Conifer Holdings Schedules Second Quarter 2020 Financial Results Conference Call/Webcast for Thursday, August 13, 2020
- BIRMINGHAM, Mich., Aug. 03, 2020 (GLOBE NEWSWIRE) -- Conifer Holdings, Inc. (Nasdaq:CNFR) will hold a conference call/webcast on Thursday, August 13, 2020 at 8:30 a.m. ET to discuss results for the quarter ended June 30, 2020. The Company expects to release its second quarter financial results on Wednesday, August 12, 2020 after the close of the market. Investors, analysts, employees and the general public are invited to listen to the conference call via:Webcast:On the Event Calendar at IR.CNFRH.com Conference Call:844-868-8843 (domestic) or 412-317-6589 (international) The webcast will be archived on the Conifer Holdings website at IR.CNFRH.com. Individuals who listen to the call should refer to Conifer Holdings’ audited consolidated financial statements and related notes included in its annual form 10-K, filed on March 12, 2020 with the Securities and Exchange Commission (the “SEC”).About Conifer Holdings Conifer Holdings, Inc. is a specialty market property and casualty insurance holding company based in Michigan. Across all 50 states, Conifer offers tailored niche insurance coverage for both commercial and personal lines insureds. The Company is traded on the Nasdaq Global Market under the symbol CNFR, and additional information is available on the Company's website at IR.CNFRH.com.For Further Information: Jessica Gulis, 248.559.0840 ir@cnfrh.com
- 08/03/2020
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Conifer Health Announces Executive Appointments
- Conifer Health Announces Executive Appointments
- 07/01/2020
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Edited Transcript of CNFR earnings conference call or presentation 14-May-20 12:30pm GMT
- Q1 2020 Conifer Holdings Inc Earnings Call
- 06/24/2020
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The Independent Director of Conifer Holdings, Inc. (NASDAQ:CNFR), Joseph Sarafa, Just Bought 22% More Shares
- Whilst it may not be a huge deal, we thought it was good to see that the Conifer Holdings, Inc. (NASDAQ:CNFR...
- 05/21/2020
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Conifer Holdings, Inc. (NASDAQ:CNFR) Just Reported Earnings, And Analysts Cut Their Target Price
- Conifer Holdings, Inc. (NASDAQ:CNFR) missed earnings with its latest first-quarter results, disappointing...
- 05/15/2020
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Conifer Holdings: Q1 Earnings Insights
- Conifer Holdings (NASDAQ:CNFR) reported Q1 results after the close.Quarterly Results Earnings per share increased 44% over the past year to ($0.28), which missed the estimate of ($0.10).Revenue of $22,017,000 up by 1.52% from the same period last year, which beat the estimate of $21,550,000.Outlook Conifer Holdings hasn't issued any earnings guidance for the time being.Details Of The Call Date: May 14, 2020Time: 07:08 PM ETView more earnings on CNFRWebcast URL: https://78449.choruscall.com/dataconf/productusers/cnfr/mediaframe/37827/indexr.htmlPrice Action 52-week high: $4.6052-week low: $2.00Price action over last quarter: down 7.69%Company Profile Conifer Holdings Inc is an insurance company. The company's operating segment includes Commercial Lines; Personal Lines; Under-writing; Wholesale Agency and Corporate. It generates maximum revenue from the Under-writing segment. Commercial lines segment offers coverage for property, liability, automobile and other miscellaneous coverage primarily to owner-operated small and mid-sized businesses, professional organizations and hospitality businesses such as restaurants, bars, and taverns. The Personal lines segment offers coverage for low-value dwelling and wind-exposed homeowners. Its revenues are derived from premiums earned, investment income, installment fees, policy issuance fees, and commission income.See more from Benzinga * Jack In The Box: Q2 Earnings Insights * P/E Ratio Insights for Twitter * A Look Into Foot Locker's Price Over Earnings(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- 05/13/2020
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Conifer Holdings Reports 2020 First Quarter Financial Results
- BIRMINGHAM, Mich., May 13, 2020 -- Conifer Holdings, Inc. (Nasdaq: CNFR) (“Conifer” or the “Company”) today announced results for the first quarter ended March 31, 2020. First.
- 05/13/2020
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Conifer Holdings Schedules First Quarter 2020 Financial Results Conference Call/Webcast for Thursday, May 14, 2020
- BIRMINGHAM, Mich., April 30, 2020 -- Conifer Holdings, Inc. (Nasdaq:CNFR) will hold a conference call/webcast on Thursday, May 14, 2020 at 8:30 a.m. ET to discuss results for.
- 04/30/2020
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When Will Conifer Holdings, Inc. (NASDAQ:CNFR) Become Profitable?
- Conifer Holdings, Inc.'s (NASDAQ:CNFR): Conifer Holdings, Inc., an insurance holding company, offers insurance coverage...
- 04/10/2020
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Financial Analysis: Conifer (NASDAQ:CNFR) versus Hanover Insurance Group (NASDAQ:THG)
- Hanover Insurance Group (NYSE:THG) and Conifer (NASDAQ:CNFR) are both finance companies, but which is the better business? We will compare the two companies based on the strength of their institutional ownership, analyst recommendations, profitability, risk, valuation, dividends and earnings. Profitability This table compares Hanover Insurance Group and Conifer’s net margins, return on equity and return […]
- 04/06/2020
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Baby Bonds Complete Review
- A review of all baby bonds. All the baby bonds sorted in categories. What has changed during the past month?
- 03/17/2020
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Edited Transcript of CNFR earnings conference call or presentation 27-Feb-20 1:30pm GMT
- Q4 2019 Conifer Holdings Inc Earnings Call
- 03/12/2020
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Conifer Holdings Reports 2019 Fourth Quarter Financial Results
- BIRMINGHAM, Mich., Feb. 26, 2020 -- Conifer Holdings, Inc. (Nasdaq: CNFR) (“Conifer” or the “Company”) today announced results for the fourth quarter and year ended December.
- 02/26/2020
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Head to Head Analysis: Conifer (NASDAQ:CNFR) versus Employers (NASDAQ:EIG)
- Conifer (NASDAQ:CNFR) and Employers (NYSE:EIG) are both small-cap finance companies, but which is the superior business? We will compare the two businesses based on the strength of their institutional ownership, earnings, risk, profitability, analyst recommendations, dividends and valuation. Earnings & Valuation This table compares Conifer and Employers’ gross revenue, earnings per share and valuation. Gross […]
- 02/26/2020
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Baby Bonds Complete Review
- A review of all baby bonds. All the baby bonds sorted in categories. What has changed during the past month?
- 02/20/2020
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Conifer Holdings Schedules Fourth Quarter 2019 Financial Results Conference Call/Webcast for Thursday, February 27, 2020
- BIRMINGHAM, Mich., Feb. 13, 2020 -- Conifer Holdings, Inc. (Nasdaq:CNFR) will hold a conference call/webcast on Thursday, February 27, 2020 at 8:30 a.m. ET to discuss results.
- 02/13/2020
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Conifer (NASDAQ:CNFR) & White Mountains Insurance Group (NASDAQ:WTM) Head-To-Head Contrast
- Conifer (NASDAQ:CNFR) and White Mountains Insurance Group (NYSE:WTM) are both finance companies, but which is the superior investment? We will contrast the two businesses based on the strength of their institutional ownership, risk, dividends, analyst recommendations, profitability, earnings and valuation. Risk & Volatility Conifer has a beta of 1.46, meaning that its stock price is […]
- 02/01/2020
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Baby Bonds Complete Review
- A review of all baby bonds. All the baby bonds sorted in categories. What has changed during the past month?
- 01/23/2020
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Is Conifer Holdings, Inc.'s (NASDAQ:CNFR) CEO Salary Justified?
- Jim Petcoff has been the CEO of Conifer Holdings, Inc. (NASDAQ:CNFR) since 2009. This analysis aims first to contrast...
- 01/21/2020
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Conifer (NASDAQ:CNFR) versus National General (NASDAQ:NGHC) Head to Head Review
- Conifer (NASDAQ:CNFR) and National General (NASDAQ:NGHC) are both finance companies, but which is the better investment? We will contrast the two companies based on the strength of their profitability, earnings, dividends, analyst recommendations, risk, valuation and institutional ownership. Insider and Institutional Ownership 5.4% of Conifer shares are owned by institutional investors. Comparatively, 52.2% of National […]
- 01/10/2020
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AM Best Upgrades Credit Ratings of White Pine Insurance Company
- AM Best has upgraded the Financial Strength Rating (FSR) to B++ (Good) from B+ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) to "bbb" from "bbb-" of White Pine Insurance Company (White Pine). The outlook of the Credit Ratings (ratings) has been revised to negative from stable. Concurrently, AM Best has affirmed the FSR of B++ (Good) and the Long-Term ICR of "bbb" of Conifer Insurance Company (CIC); and the Long-Term ICR of "bb" of its parent holding company, Conifer Holdings, Inc. (CHI) [NASDAQ: CNFR]. The outlook of these ratings remains negative. All companies are domiciled in Birmingham, MI. Collectively these companies are referred to as Conifer Insurance Group (the group or Conifer).
- 12/19/2019
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The Conifer Holdings (NASDAQ:CNFR) Share Price Is Down 46% So Some Shareholders Are Getting Worried
- Many investors define successful investing as beating the market average over the long term. But its virtually certain...
- 12/16/2019
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Edited Transcript of CNFR earnings conference call or presentation 12-Nov-19 1:30pm GMT
- Q3 2019 Conifer Holdings Inc Earnings Call
- 12/03/2019
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Conifer Holdings Reports 2019 Third Quarter Financial Results
- BIRMINGHAM, Mich., Nov. 11, 2019 -- Conifer Holdings, Inc. (Nasdaq: CNFR) (“Conifer” or the “Company”) today announced results for the third quarter ended September 30, 2019..
- 11/11/2019
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Insider Buying: The Conifer Holdings, Inc. (NASDAQ:CNFR) Chairman & CEO Just Bought US$1m Worth Of Shares
- Conifer Holdings, Inc. (NASDAQ:CNFR) shareholders (or potential shareholders) will be happy to see that the Chairman...
- 11/10/2019
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Conifer Holdings Schedules Third Quarter 2019 Financial Results Conference Call/Webcast for Tuesday, November 12, 2019
- BIRMINGHAM, Mich., Oct. 30, 2019 -- Conifer Holdings, Inc. (Nasdaq:CNFR) will hold a conference call/webcast on Tuesday, November 12, 2019 at 8:30 a.m. ET to discuss results.
- 10/30/2019
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Conifer Holdings, Inc. (NASDAQ:CNFR) Is Expected To Breakeven
- Conifer Holdings, Inc.'s (NASDAQ:CNFR): Conifer Holdings, Inc., an insurance holding company, offers insurance coverage...
- 10/27/2019
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Does Conifer Holdings, Inc. (NASDAQ:CNFR) Have A Particularly Volatile Share Price?
- Anyone researching Conifer Holdings, Inc. (NASDAQ:CNFR) might want to consider the historical volatility of the share...
- 09/27/2019
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Edited Transcript of CNFR earnings conference call or presentation 8-Aug-19 12:30pm GMT
- Q2 2019 Conifer Holdings Inc Earnings Call
- 09/11/2019
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Conifer Holdings Reports 2019 Second Quarter Financial Results
- BIRMINGHAM, Mich., Aug. 07, 2019 -- Conifer Holdings, Inc. (Nasdaq: CNFR) (“Conifer” or the “Company”) today announced results for the second quarter ended June 30, 2019..
- 08/07/2019
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Conifer Holdings Schedules Second Quarter 2019 Financial Results Conference Call/Webcast for Thursday, August 8, 2019
- BIRMINGHAM, Mich., July 25, 2019 -- Conifer Holdings, Inc. (Nasdaq:CNFR) will hold a conference call/webcast on Thursday, August 8, 2019 at 8:30 a.m. ET to discuss results for.
- 07/25/2019
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