Presurance Holdings, Inc.

Listed Company

PRHICIK 0001502292NasdaqNon-AcceleratedSmaller ReportingFire, Marine & Casualty InsuranceMichiganFY ends Dec 31

Period

FY 2025

Revenue

$43.30M

Net Income

$-18.44M

Total Assets

$239.28M

Equity

$8.97M

Shares Out

26.22M

Op. Cash Flow

$-43.88M

Business

Presurance Holdings, Inc. is an insurance holding company that underwrites property and casualty insurance through its insurance company subsidiaries and previously operated agency and MGA businesses. It offers homeowners and dwelling fire products (including a specialty low‑value dwelling homeowners line), and historically offered commercial property, commercial liability, commercial automobile and workers’ compensation coverages, with revenues from premiums and investment income. Key business segments include underwriting operations (commercial and personal lines) and a formerly held agency/wholesale MGA segment that has been sold; primary subsidiaries include CIC, WPIC and RCIC. The company writes both admitted and excess & surplus policies across the United States, with homeowner writings concentrated in Texas, Illinois and Indiana, and distributes through independent agents and appointed MGAs, notably via producer partners such as SSU and the formerly owned CIS.

Summary from filing dated 2025-03-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Gross earned premiums	65	107	147	135	123
Ceded earned premiums	−32	−46	−63	−39	−24
Net earned premiums	32	61	84	97	99
Net investment income	5	6	5	3	2
Net realized investment gains (losses)	−716,000	−125,000	−20,000	−2	3
Change in fair value of equity securities	234,000	−203,000	608,000	403,000	−2
Other gains	0	500,000	0	59,000	12
Other income	142,000	328,000	552,000	1	3
Change in fair value of contingent considerations	6	146,000	—	—	—
Total revenue and other income	43	67	91	105	116
Losses and loss adjustment expenses, net	39	73	82	81	70
Policy acquisition costs	8	13	16	22	28
Operating expenses	11	12	17	19	17
Interest expense	3	5	3	3	3
Total expenses	62	103	118	125	118
Income (loss) from continuing operations before income taxes	−18	−36	−28	—	—
Income tax expense (benefit)	141,000	−2	−353,000	−9	208,000
Net income (loss) from continuing operations	−18	−34	−27	—	—
Net income from discontinued operations	0	59	1	—	—
Net income (loss)	−18	24	−26	−11	−1
Series A Preferred Stock Dividends and Redemption premium	0	817,000	19,000	—	—
Net income (loss) allocable to common shareholders	−18	24	−26	−11	—
Net income (loss) from continuing operations, basic	−1.51	−2.87	−2.23	—	—
Net income (loss) from continuing operations, diluted	−1.51	−2.87	−2.23	—	—
Net income from discontinued operations, basic	0	4.79	0.11	—	—
Net income from discontinued operations, diluted	0	4.79	0.11	—	—
Net income (loss) allocable to common shareholders, basic	−1.51	1.93	−2.12	−1	−0.11
Net income (loss) allocable to common shareholders, diluted	−1.51	1.93	−2.12	−1	−0.11
Weighted average common shares outstanding, basic	12	12	12	11	10
Weighted average common shares outstanding, diluted	12	12	12	11	10

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Debt securities, at fair value (amortized cost of $96,669 and $117,827, respectively)	88	106	122	110	150
Equity securities, at fair value (cost of $1,276 and $1,836, respectively)	1	2	2	1	10
Short-term investments, at fair value	25	21	21	26	23
Total investments	114	128	145	137	183
Cash and cash equivalents	27	28	11	28	10
Premiums and agents' balances receivable, net	6	10	29	22	21
Reinsurance recoverables on unpaid losses	64	84	71	83	40
Reinsurance recoverables on paid losses	6	7	13	7	1
Prepaid reinsurance premiums	12	6	29	16	8
Deferred policy acquisition costs	3	6	6	10	12
Receivable from contingent considerations at fair value	4	8	0	—	—
Other assets	3	4	7	8	9
Total assets	239	282	316	312	290
Unpaid losses and loss adjustment expenses	146	189	175	166	139
Unearned premiums	26	31	65	68	65
Reinsurance premiums payable	3	1,000	246,000	6	5
Debt	12	12	25	34	34
Mandatorily redeemable preferred stock carrying value	14	—	—	—	—
Funds held under reinsurance agreements	24	26	25	11	—
Accounts payable and other liabilities	5	2	5	—	—
Total liabilities	230	260	313	293	250
Commitments and contingencies	—	—	—	0	0
Common stock, no par value (100,000,000 shares authorized; 12,222,881 issued and outstanding, respectively)	100	98	98	98	93
Accumulated deficit	−82	−63	−87	−61	−50
Accumulated other comprehensive income (loss)	−10	−14	−15	−18	−2
Total shareholders' equity	9	22	3	19	41
Total liabilities and shareholders' equity	239	282	316	312	290

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	255,000	2	545,000	417,000	423,000
Accretion of Series B Preferred Stock	804,000	0	—	—	—
Amortization of bond premium and discount, net	−662,000	−419,000	−871,000	320,000	523,000
Net realized investment (gains) losses	716,000	125,000	20,000	2	−3
Change in fair value of equity securities	−234,000	203,000	−608,000	−403,000	2
Deferred income tax expense	0	0	328,000	−9	0
Stock-based compensation expenses	56,000	78,000	190,000	211,000	218,000
Other	0	−2	−144,000	60,000	17,000
Change in fair value of contingent considerations	−6	−146,000	—	—	—
Premiums, agents' balances and other receivables	4	19	−4	−594,000	−811,000
Reinsurance recoverables	22	−8	6	−48	−15
Prepaid reinsurance premiums	−6	23	−13	−8	−7
Deferred policy acquisition costs	4	24,000	4	2	−24,000
Other assets	508,000	2	−663,000	−138,000	949,000
Unpaid losses and loss adjustment expenses	−43	15	9	26	28
Unearned premiums	−5	−35	−3	3	9
Funds held under reinsurance agreements	−2	1	13	11	—
Reinsurance premiums payable	3	−245,000	−6	826,000	5
Premiums payable to other insureds	0	−14	14	—	—
Accounts payable and other liabilities	3	−4	−239,000	1	−1
Net cash provided by (used in) operating activities - discontinued operations	0	3	−6	—	—
Net cash provided by (used in) operating activities	−44	−33	−13	—	—
Purchases of investments	−301	−194	−235	−318	−227
Proceeds from maturities and redemptions of investments	107	16	10	20	26
Proceeds from sales of investments	212	197	223	324	198
Net cash provided by (used in) investing activities - discontinued operations	0	−7	1	271,000	—
Net cash provided by (used in) investing activities	28	70	−272,000	—	—
Issuance of stock warrants	2	0	—	—	—
Repayment of Series A Preferred Stock	0	−6	0	—	—
Repayment of long-term debt	0	−14	−14	−3	—
Dividends paid on Series A Preferred Stock	0	−439,000	0	—	—
Redemption premium on Series A Preferred Stock	0	−397,000	0	—	—
Net cash provided by (used in) financing activities	16	−21	−3	2	−5
Net increase (decrease) in cash	−292,000	17	−17	18	2
Interest paid	2	4	3	3	3
State Income taxes paid (refunded), net	143,000	1,000	1,000	−11,000	163,000
Senior Secured Notes Call Premium	0	753,000	—	—	—

Filings

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