Presurance Holdings (CNFR) investor relations material

Executive summary

• Net income from continuing operations was $2.1M for Q2 2025, reversing a $3.7M loss in Q2 2024; net income for the six months was $2.6M, up from a $2.2M loss year-over-year.

• Net income allocable to common shareholders was $2.1M ($0.17/share) for Q2 2025, driven by partial recognition of an earnout from a prior CIS sale.

• Gross written premiums rose 11.1% to $21.1M in Q2 2025, driven by 46.8% growth in personal lines, while commercial lines fell 53%.

• The company completed the sale of its agency business (CIS) in August 2024, significantly reducing headcount and shifting reliance to underwriting revenues.

• Management emphasized ongoing streamlining and focus on core Personal Lines, with Commercial Lines largely running off.

Financial highlights

• Net earned premiums dropped 42.6% year-over-year to $9.6M in Q2 2025 due to a new 50% quota share reinsurance agreement and runoff of commercial lines.

• Adjusted operating loss was $2.1M ($0.17/share) for Q2 2025, compared to $3.4M ($0.28/share) in Q2 2024.

• Combined ratio was 121.1% for Q2 2025, indicating continued underwriting losses.

• Net investment income was $1.3M, down 11.9% from the prior year.

• Book value per share was $2.31 at June 30, 2025.

Outlook and guidance

• Management expects minimal commercial lines business going forward and limited growth in personal lines.

• Management expects continued improvement in Personal Lines performance, with metrics aligning to targets after a challenging Q1.

• CIC's capital position improved to an estimated RBC ratio of 247% after a $6.5M capital contribution in June 2025; further contributions may be needed.

• No dividends from insurance subsidiaries are anticipated in the near term; management believes obligations can be met over the next 12 months.

• Forward-looking statements highlight focus on capital position, expansion, and growth strategies, while noting risks and uncertainties.