PRHI · Presurance Holdings, Inc.

Presurance Holdings announced Q4 and full-year 2025 results on March 27, 2026, revealing significant challenges from legacy commercial lines run-off and adverse prior year development. Gross written premiums dropped 41.9% YoY to $7.9 million in Q4, entirely from personal lines as commercial lines production hit zero, reflecting a strategic exit from underperforming business. Personal lines showed resilience with 12.7% full-year growth to $51.1 million, driven by Texas and Midwestern states, though net written premiums fell due to quota share reinsurance. The combined ratio spiked to 333.5% in Q4 (vs. 292.9% prior year), propelled by a 286.9% loss ratio, including 178.7% from adverse development—550.9% in commercial lines alone. CEO Brian Roney highlighted decisive management of legacy issues, simplifying risk profile and focusing on homeowners' personal lines for better alignment with underwriting goals. Net loss widened to $17.0 million ($1.39/share) from $25.4 million prior year, with adjusted operating loss at $15.2 million ($1.24/share). Balance sheet shrank to $239.3 million total assets from $281.7 million, with equity at $9.0 million ($0.73/share). Investment income dipped 15% to $1.1 million amid portfolio adjustments. This disciplined shift reduces volatility exposure but underscores ongoing profitability pressures from run-off and reinsurance impacts, with no forward guidance provided.