Presurance Holdings, Inc.
Business
Presurance Holdings, Inc. is a Michigan-domiciled insurance holding company offering specialty personal lines insurance products, primarily homeowners and dwelling fire insurance. The company writes insurance through three subsidiaries on both admitted and excess & surplus lines bases in multiple states. Following the August 2024 sale of its managing general agency (CIS) and divestiture of its Sycamore Specialty Underwriters stake, the company now generates revenues exclusively from underwriting premiums and investment income, with all homeowners business distributed through one independent MGA partner.
Summary from 10-K filed 2026-03-27
Financials
Consolidated Statement of Income
| Concept | Trend | 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
| Concept | Trend | 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
| Concept | Trend | 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
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Presurance Holdings, Inc.'s CIK number?
Presurance Holdings, Inc.'s SEC CIK number is 0001502292 (1502292). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Presurance Holdings, Inc.'s SEC filings?
All of Presurance Holdings, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Presurance Holdings, Inc. last report earnings?
Presurance Holdings, Inc. (PRHI) most recently filed an earnings 8-K with the SEC on May 14, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-223815). This is Presurance Holdings, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Presurance Holdings, Inc.'s most recent earnings 8-K?
Presurance Holdings, Inc.'s latest earnings 8-K (Item 2.02) was filed May 14, 2026 under accession 0001193125-26-223815. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Presurance Holdings, Inc.'s latest earnings 8-K →
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