8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event Reported): May 19, 2021

Conifer Holdings Inc.

(Exact Name of Registrant as Specified in Charter)

Michigan	001-37536	27-1298795
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification Number)

550 West Merrill Street, Suite 200

Birmingham, MI 48009

(Address of Principal Executive Offices) (Zip Code)

Registrant's telephone number, including area code: (248) 559-0840

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading<br><br><br>Symbol(s)	Name of each exchange on which registered
Common Stock, no par value	CNFR	The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter)

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01 Regulation FD Disclosure.

On May 19, 2021, Conifer Holdings, Inc. (the “Company”) presented additional background information on the Company and on its strategic plan (the “Investor Presentation”) during its 2021 virtual Annual Meeting of Shareholders.  A copy of the Investor Presentation, which is available on the Company’s website at www.CNFRH.com under the tab “Investors,” is attached hereto as Exhibit 99.1, and is incorporated herein by reference. The information in this Item 7.01 and the attached exhibit shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act except as shall be expressly stated by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

Exhibit 99.1	Investor Presentation dated May 19, 2021

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Conifer Holdings Inc.
Date: May 21, 2021	By:	/s/ BRIAN J. RONEY
		Brian J. Roney
		President

Annual Shareholder Meeting May 19, 2021

NASDAQ: CNFR

Fulfilling the Unique Needs of Specialty Insurance Markets as a Long-Term Partner Exhibit 99.1

Safe Harbor Statement This presentation contains “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are based on our management’s beliefs and assumptions and on information currently available to management. These forward-looking statements include, without limitation, statements regarding our industry, business strategy, plans, goals and expectations concerning our market position, product expansion, future operations, margins, profitability, future efficiencies, and other financial and operating information. When used in this discussion, the words “may,” “believes,” “intends,” “seeks,” “anticipates,” “plans,” “estimates,” “expects,” “should,” “assumes,” “continues,” “potential,” “could,” “will,” “future” and the negative of these or similar terms and phrases are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, inherent risks and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements represent our management’s beliefs and assumptions only as of the date of this presentation. Our actual future results may be materially different from what we expect due to factors largely outside our control, including the impact of COVID-19 on the economy and on our business, occurrence of severe weather conditions and other catastrophes, the cyclical nature of the insurance industry, future actions by regulators, our ability to obtain reinsurance coverage at reasonable rates and the effects of competition. These and other risks and uncertainties associated with our business are described under the heading “Risk Factors” in our most recently filed Annual Report on Form 10-K and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, which should be read in conjunction with this presentation. The company and its subsidiaries operate in a dynamic business environment, and therefore the risks identified are not meant to be exhaustive. Risk factors change and new risks emerge frequently. Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future. 1

2020 Highlights Top Line Growth in 2020: GWP up 9.3% year over year Achieving rate across many core lines of business Low-value dwelling product performance in Personal Lines aligns with Company targets Focus is on additional profitable core premium Nimble Infrastructure & Exceptional Team Enables Resilience Early investments in technology paid off in seamless shift to remote operations Employee adaptability shines in continued commitment to superior customer service Insurance Companies Generated Profit in 2020 Expense Ratio expected to rationalize as top line growth progresses Ongoing optimization of business mix yielded positive results in 2020 Saw high premium retention (in the 90s) for the full year 2 Our Focus: High Retention / Low Volatility to Generate Consistent Return on Equity

Highlights: 2020 & Q1 2021 3 Writing Specialty Commercial Lines Significant rate increases Infrastructure in place to handle anticipated growth Reducing exposure to underperforming markets (example: exiting select FL commercial lines) Expense management ongoing Focus on Small Commercial Business Experiencing premium growth Achieving appropriate scale Substantial decrease in number of open claims leads to more predictable loss-cost predictions in future periods Consistent quarter-over-quarter expense ratio improvements anticipated

Gross Written Premium for full year 2020: $111.3 Million, up 9.3% YoY 4 Our Mix of Business 4

2020 Results Overview: Reflects Disciplined Growth Gross Written Premium - up 9.3% year over year Commercial Lines up 8.9% Personal Lines up 14.9% (small premium base) Maintaining solid business mix: 92% of total premiums in 2020 were from core commercial business 8% of premium from personal lines Personal Lines largely low value dwelling business (little to no wind exposure) Premium retention in the low 90s High premium retention achieved overall for the full year Continued reduction in wind exposed business Less volatility experienced during wind season Tough wind year for the insurance industry – but not Conifer Q1 2021 Top Line Growth – up 21.1% over Q1 2020 GWP was $30.4M in Q1 2021 Commercial Lines GWP increased approximately 16.1% over Q1 2020 Personal Lines GWP increased 92.2% over Q1 2020, in historically profitable business lines Net Earned Premium increased to $22.8M in Q1 2021, compared to $22.0M in Q1 2020 Commercial Lines NEP improved 1.3% to $20.7M for Q1 2021 Personal Lines NEP was $2.1M for Q1 2021, a 34.2% increase over the same period in 2020 Gross Written Premium $102M $111M MILLIONS 5 $25M $30M +21.1% +9.3%

Commercial Lines Focus: Disciplined, Quality Underwriting 6 Focus on classes where we have deep underwriting knowledge and experience Partner with retail and select wholesale agencies and retain underwriting authority in-house: Underwriting teams have established strong relationships with retail and wholesale specialists in these lines of business. With agents who specialize in our unique classes, we remain closer to our insureds and underwrite a stronger account / risk profile overall. A hallmark of our success has always been tight agent relationships that generate high account retention: Commercial retention in the quarter was over 90%. High account retention allows us to selectively grow market share where we see the best pricing and profitability. Leverage ability to write on E&S and admitted paper for rate and form flexibility: Our markets are firming, and we are seeing rate increases in our specialty markets – especially Excess & Surplus lines. In general, this has contributed to higher account retention, and more rate per risk. High single digits generally, low double digits for most classes, and even higher increases for auto insureds. Maintain low limits as much as possible: vast majority of property TIV is under $1M Also, we are seeing select participants exiting and leading to some market share movement in our space Continuing to emphasize specialty business, our premium mix remains firmly dedicated to Commercial Lines with 90% Specialty Commercial and only 10% Personal Lines for Q1 2021.

Commercial Lines Overview 7 Commercial Lines represented roughly 90% of the premium written in Q1 2021 Michigan state premium increasing as Florida exposure decreases Conifer continues to write Commercial Lines in all 50 states +16.1% Gross Written Premium

Personal Lines Focus: Niche Specialty Homeowners Products 8 Low value dwelling focus Underwriting teams have established strong relationships with retail and wholesale specialists in low value dwelling markets Leverage ability to write on E&S and admitted paper, where possible, for rate and form flexibility Utilize technology to appropriately price our property risks – for example, employing satellite imagery software for positive roof selection Improved technology to streamline claims process – for example, text messaging with claimants (including in-app translation capability) Maintain competitive advantage in ease of use for agency portal and submission/bind process Cloud-based agency portal system with strong data mining and predictive outcome capabilities Redesigned insurance company websites with the agent experience in mind Maintain rate and underwriting discipline regardless of market cycles

Personal Lines Overview 9 Gross Written Premium Personal Lines production was approximately 10% of total premium in Q1 2021 Growth in low-value dwelling segment with Texas as largest state Continuing efforts to reduce wind exposure overall +92.2%

Results Overview: Combined Ratio 10 Continued focus on disciplined underwriting Commercial Lines combined ratio of 110.0% Since 2018, significant re-underwriting has taken place, eliminating poor performers and geographies Premiums in non-performing lines are now down to select core book with solid historical performance Personal Lines combined ratio of 88.8% for the full year 2020 reflects an 87.3 percentage point improvement over 2019 Elimination of wind-exposed business and focus on low-value dwelling book has borne results Expect continued growth in profitable programs in 2021 and beyond

Investment Portfolio Summary: as of March 31, 2021 11 Debt Security Portfolio Allocation Net Investment Income for Q1 2021: $0.5M Highly liquid portfolio of investment grade debt securities Total cash & investment securities of $184.4M at March 31, 2021: Average duration: 3.9 years Average tax-equivalent yield: ~1.5% Average credit quality: AA+

Financial Results: Consolidated Balance Sheet as of March 31, 2021 12 Shareholders’ equity of $37 million – book value of $3.82 a share $1.53 per share full valuation allowance against deferred tax assets not reflected in book value Total adjusted book value of $5.35 as of quarter ended March 31, 2021

Conifer Holdings, Inc.

Insurance Holding Company MI Domicile

Incorporated: 10/27/2009 Organizational Overview: Corporate Structure 14

Corporate Overview: Our Companies 15 Conifer Holdings, Inc. provides niche market insurance programs through Conifer Insurance Company and White Pine Insurance Company on both an admitted and E&S basis.

Organizational Overview: Board of Directors 16

Organizational Overview: Board of Directors (continued) 17

Organizational Overview: Board of Directors (continued) 18

Organizational Overview: Executive Management 19