Presurance Holdings (CNFR) investor relations material

Executive summary

• Gross written premiums fell 29.1% year-over-year to $11.5 million in Q1 2026, driven by declines in both personal and commercial lines, with commercial lines now fully in runoff and a strategic shift to personal lines.

• Net income rose to $2.6 million ($0.15 per share) from $522,000 ($0.04 per share) in Q1 2025, aided by a $4.5 million gain in fair value of contingent considerations.

• Adjusted operating loss (non-GAAP) was $2.8 million, an improvement from a $3.7 million loss in Q1 2025.

• Underwriting combined ratio improved to 105.7% from 140.5% year-over-year, reflecting better loss and expense management.

• Underwriting performance improved, driven by a strategic exit from commercial lines and focus on personal lines.

Financial highlights

• Net earned premiums decreased 42.6% to $5.9 million, reflecting the impact of a new 50% quota share reinsurance agreement and runoff of commercial lines.

• Net investment income was $1.1 million, down 13.9% from Q1 2025.

• Losses and loss adjustment expenses dropped 64.1% to $3.3 million, mainly due to lower earned premiums and runoff of higher-loss commercial lines.

• Book value per share was $0.96 at March 31, 2026.

• Adjusted operating loss was $2.8 million, or $0.16 per share, compared to a $3.7 million loss last year.

Outlook and guidance

• Management expects continued focus on specialty homeowners insurance in Texas, Illinois, and Indiana, with no new commercial lines business anticipated.

• The company believes it can meet obligations over the next twelve months, supported by anticipated revenue and a potential $10 million earnout payment.

• Management remains focused on disciplined underwriting and building a sustainable, profitable platform.

• Forward-looking statements caution about risks and uncertainties that could impact future results.