Presurance Holdings Reports 2026 First Quarter Financial Results

Published: 2026-05-13 16:02:20 ET PRHI

Published on 05/13/2026 at 04:02 pm EDT

TROY, Mich., May 13, 2026 (GLOBE NEWSWIRE) -- Presurance Holdings, Inc. (Nasdaq: PRHI) (“Presurance” or the “Company”) today announced results for the first quarter ended March 31, 2026.

First Quarter 2026 Financial Highlights

Results for the quarter reflected meaningful improvement in underwriting performance and continued progress in the Company’s strategic repositioning toward areas that have shown a strong track record of performance.

Management Comments

Brian Roney, CEO of Presurance, commented, "Our first quarter results demonstrate the meaningful progress we are making as we continue repositioning the Company around a more focused and disciplined underwriting strategy. While gross written premiums declined as expected due to our exit from commercial lines business, the quality and profitability of our remaining portfolio improved significantly. Our focus remains on building a profitable operating platform capable of generating sustainable long-term results.”

2026 First Quarter Financial Results Overview

2026 First Quarter Gross Written Premium

Gross written premiums decreased 29.1% year over year, reflecting the Company’s continued exit from legacy commercial lines business. The Company’s underwriting portfolio is now concentrated on select personal lines homeowners’ business that aligns with its long-term underwriting objectives and risk appetite.

Personal Lines Financial and Operational Review

Profitability in personal lines for the first quarter of 2026 reflects the Company’s strategic decision to prioritize quality of earnings over scale—focusing on business that offers more attractive risk-adjusted returns and greater consistency over time. Personal lines premium represented 100% of total gross written premium for the first quarter of 2026, largely driven by Texas homeowners premium and supplemented by continuing business in select Midwestern states.

Commercial Lines Financial and Operational Review

The Company’s commercial lines of business represented 0% of total gross written premium in the first quarter of 2026, as the runoff of legacy commercial lines exposures remains ongoing; however, the strategic reduction of these exposures has continued to streamline the Company’s risk profile and reduce earnings volatility associated with prior business concentrations.

Combined Ratio Analysis

The Company reported a significantly improved overall loss ratio of 56.2% for the first quarter of 2026, compared to 89.7% in the prior year period. This improvement bears out the Company’s decision to meaningfully streamline its risk profile.

Net Investment Income

Net investment income was $1.1 million for the quarter ended March 31, 2026, compared to $1.3 million in the prior year period.

Change in Fair Value of Equity Securities

During the quarter, the Company reported a gain of $30,000 from the change in fair value of equity securities, compared to a loss of $192,000 in the prior year period.

Net Income (Loss) allocable to common shareholders

The Company reported net income allocable to common shareholders of $2.6 million, or $0.15 per share, for the first quarter of 2026.

Adjusted Operating Income (Loss)

The Company reported an adjusted operating loss of $2.8 million, or $0.16 per share, for the quarter ended March 31, 2026. See Definitions of Non-GAAP Measures.

About Presurance Holdings

Presurance Holdings, Inc. is a Michigan-based property and casualty holding company. Through its subsidiaries, the Company provides specialty insurance coverage with a focus on disciplined growth and long-term value creation. The Company trades on the Nasdaq Capital Market under the symbol PRHI. Additional information can be found on the Company’s website at IR.PREHLD.com.

Definitions of Non-GAAP Measures

Presurance prepares its public financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP). Statutory data is prepared in accordance with statutory accounting rules as defined by the National Association of Insurance Commissioners' (NAIC) Accounting Practices and Procedures Manual and therefore is not reconciled to GAAP data.

We believe that investors’ understanding of the Company’s performance is enhanced by our disclosure of adjusted operating income. Our method of calculating this measure may differ from that used by other companies and therefore comparability may be limited. We define adjusted operating income (loss), a non-GAAP measure, as net income (loss) excluding: 1) net realized investment gains (losses), 2) change in fair value of equity securities, 3) Change in fair value of contingent considerations and 4) Additional accretion of Warrants from Series B Preferred Stock payoff. We use adjusted operating income as an internal performance measure in the management of our operations because we believe it gives our management and other users of our financial information useful insight into the results of our operations and underlying business performance.

Forward-Looking Statement

This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements give current expectations or forecasts of future events or our future financial or operating performance, and include the Company’s expectations regarding premiums, earnings, its capital position, expansion, and growth strategies. The forward-looking statements contained in this press release are based on management’s good-faith belief and reasonable judgment based on current information. The forward-looking statements are qualified by important factors, risks and uncertainties, many of which are beyond our control, that could cause our actual results to differ materially from those in the forward-looking statements, including those described in our form 10-K (“Item 1A Risk Factors”) filed with the SEC on March 27, 2026, and subsequent reports filed with or furnished to the SEC. Any forward-looking statement made by us in this report speaks only as of the date hereof or as of the date specified herein. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable laws or regulations.

Reconciliations of adjusted operating income (loss) and adjusted operating income (loss) per share:

* The Company has recorded a full valuation allowance against its deferred tax assets as of March 31, 2026 and March 31, 2025, respectively. As a result, there were no taxable impacts to adjusted operating income (loss) from the adjustments to net income (loss) in the table above after taking into account the use of net operating losses and the change in the valuation allowance.

For Further Information:Jessica Gulis, [email protected]

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