Presurance Holdings, Inc 8-K, filed Nov 17, 2025

Presurance Holdings, Inc. (PRHI)

8-K 2025-11-17 For: 2025-11-12

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Added on April 09, 2026

About this 8-K

Presurance Holdings, Inc filed this 8-K on November 17, 2025, reporting on events of November 12, 2025.

Items reported

Item 2.02: Financial results
Item 9.01: Financial statements and exhibits

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


☐	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)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, no par value	PRHI	The Nasdaq Stock Market LLC
9.75% Senior Notes due 2028	PRHIZ	The Nasdaq Stock Market LLC


Exhibit 99.1	Press Release dated November 12, 2025
Exhibit 104	Cover Page Interactive Data File (embedded within the Inline XBRL document)


	Presurance Holdings, Inc.

Date: November 17, 2025	By:	/s/ BRIAN J. RONEY
		Brian J. Roney
		Chief Executive Officer


	At and for the Three Months Ended September 30,									At and for the Nine Months Ended September 30,
	2025			2024			% Change			2025			2024			% Change
	(dollars in thousands, except share and per share amounts)

Gross written premiums	$	14,642		$	15,086			-2.9	%	$	51,894		$	58,370			-11.1	%
Net written premiums		5,427			11,174			-51.4	%		17,650			39,812			-55.7	%
Net earned premiums		6,821			14,601			-53.3	%		26,700			48,154			-44.6	%

Net investment income		1,301			1,391			-6.5	%		3,888			4,411			-11.9	%
Net realized investment gains (losses)		4			(7	)	**				(21	)		(125	)		-83.2	%
Change in fair value of equity securities		13			(29	)	**				(244	)		(182	)		34.1	%

Net income (loss) allocable to common shareholders		(3,970	)		52,788		**				(1,397	)		48,912		**
Net income (loss) allocable to common shareholders per share, diluted	$	(0.32	)	$	4.32		**			$	(0.11	)	$	4.00		**

Adjusted operating income (loss)*		(2,706	)		(6,850	)	**				(8,460	)		(8,737	)		-3.2	%
Adjusted operating income (loss) per share, diluted*	$	(0.22	)	$	(0.56	)	**			$	(0.69	)	$	(0.71	)		-2.8	%

Book value per common share outstanding	$	2.07		$	4.01					$	2.07		$	4.01

Weighted average shares outstanding, basic and diluted		12,222,881			12,222,881						12,222,881			12,222,881

Underwriting ratios:
Loss ratio (1)		93.7	%		103.8	%					83.2	%		84.8	%
Expense ratio (2)		47.5	%		39.3	%					50.5	%		35.2	%
Combined ratio (3)		141.2	%		143.1	%					133.7	%		120.0	%

* The "Definitions of Non-GAAP Measures" section of this release defines and reconciles data that are not based on generally accepted accounting principles.
** Percentage is not meaningful
(1) The loss ratio is the ratio, expressed as a percentage, of net losses and loss adjustment expenses to net earned premiums and other income from underwriting operations.
(2) The expense ratio is the ratio, expressed as a percentage, of policy acquisition costs and other underwriting expenses to net earned premiums and other income from underwriting operations.
(3) The combined ratio is the sum of the loss ratio and the expense ratio. A combined ratio under 100% indicates an underwriting profit. A combined ratio over 100% indicates an underwriting loss.



	Three Months Ended September 30,									Nine Months Ended September 30,
	2025			2024			% Change			2025			2024			% Change
	(dollars in thousands)

Gross written premiums	$	3,483		$	4,018			-13.3	%	$	8,720		$	23,562			-63.0	%
Net written premiums		495			1,481			-66.6	%		(1,541	)		14,053		**
Net earned premiums		771			6,428			-88.0	%		2,570			23,906			-89.2	%

Underwriting ratios:
Loss ratio		420.4	%		168.0	%					224.1	%		102.1	%
Expense ratio		80.4	%		29.1	%					44.8	%		29.1	%
Combined ratio		500.8	%		197.1	%					268.9	%		131.2	%


Contribution to combined ratio from net (favorable) adverse prior year development		335.7	%		123.4	%					81.5	%		41.9	%

Accident year combined ratio (1)		165.1	%		73.7	%					187.4	%		89.3	%

** Percentage is not meaningful
(1) The accident year combined ratio is the sum of the loss ratio and the expense ratio, less changes in net ultimate loss estimates from prior accident year loss reserves. The accident year combined ratio provides management with an assessment of the specific policy year's profitability and assists management in their evaluation of product pricing levels and quality of business written.


	Three Months Ended September 30,						Nine Months Ended September 30,
	2025			2024			2025			2024

Underwriting ratios:
Loss ratio		93.7	%		103.8	%		83.2	%		84.8	%
Expense ratio		47.5	%		39.3	%		50.5	%		35.2	%
Combined ratio		141.2	%		143.1	%		133.7	%		120.0	%

Contribution to combined ratio from net (favorable)
adverse prior year development		41.9	%		53.9	%		13.3	%		21.1	%

Accident year combined ratio		99.3	%		89.2	%		120.4	%		98.9	%


Presurance Holdings, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(dollars in thousands)

	September 30,			December 31,
	2025			2024
Assets	(Unaudited)
Investment securities:
Debt securities, at fair value (amortized cost of $103,629 and $117,827, respectively)	$	94,576		$	105,665
Equity securities, at fair value (cost of $1,819 and $1,836, respectively)		1,342			1,603
Short-term investments, at fair value		54,914			21,151
Total investments		150,832			128,419

Cash and cash equivalents		7,414			27,654
Premiums and agents' balances receivable, net		7,503			9,901
Reinsurance recoverables on unpaid losses		76,161			84,490
Reinsurance recoverables on paid losses		12,957			6,919
Prepaid reinsurance premiums		17,200			6,088
Deferred policy acquisition costs		2,992			6,380
Receivable from contingent considerations		6,320			8,070
Other assets		3,616			3,735
Total assets	$	284,995		$	281,656

Liabilities and Shareholders' Equity
Liabilities:
Unpaid losses and loss adjustment expenses	$	154,330		$	189,285
Unearned premiums		32,867			30,590
Reinsurance premiums payable		12,774			1
Debt		12,123			11,932
Mandatorily redeemable preferred stock		6,127			-
Funds held under reinsurance agreements		21,297			25,829
Payables for investments purchased		15,903			-
Accounts payable and other liabilities		4,271			2,494
Total liabilities		259,692			260,131

Commitments and contingencies

Shareholders' equity:
Common stock, no par value (100,000,000 shares authorized; 12,222,881 issued and outstanding, respectively)		100,145			98,178
Accumulated deficit		(64,550	)		(63,153	)
Accumulated other comprehensive income (loss)		(10,292	)		(13,500	)
Total shareholders' equity		25,303			21,525
Total liabilities and shareholders' equity	$	284,995		$	281,656


Presurance Holdings, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations (Unaudited)
(dollars in thousands, except share and per share data)

		Three Months Ended						Nine Months Ended
		September 30,						September 30,
		2025			2024			2025				2024

	Revenue and Other Income
	Premiums
	Gross earned premiums	$	17,015		$	23,278		$	49,617		$	86,891
	Ceded earned premiums		(10,194	)		(8,677	)		(22,917	)		(38,737	)
	Net earned premiums		6,821			14,601			26,700			48,154
	Net investment income		1,301			1,391			3,888			4,411
	Net realized investment gains (losses)		4			(7	)		(21	)		(125	)
	Change in fair value of equity securities		13			(29	)		(244	)		(182	)
	Other income		40			61			115			287
	Change in fair value of contingent considerations		(1,500	)		-			8,250			-
	Total revenue and other income		6,679			16,017			38,688			52,545

	Expenses
	Losses and loss adjustment expenses, net		6,389			15,152			22,227			40,953
	Policy acquisition costs		1,895			3,249			6,859			9,800
	Operating and other expenses		1,491			3,594			8,720			8,666
	Interest expense		874			2,275			2,279			4,021
	Total expenses		10,649			24,270			40,085			63,440

	Income (loss) from continuing operations before income taxes		(3,970	)		(8,253	)		(1,397	)		(10,895	)
	Income tax expense (benefit)		-			(1,367	)		-			(1,851	)

	Net income (loss) from continuing operations	$	(3,970	)	$	(6,886	)	$	(1,397	)	$	(9,044	)
	Net income (loss) from discontinued operations		-			60,176			-			58,773
	Net income (loss)		(3,970	)		53,290			(1,397	)		49,729
	Series A Preferred Stock dividends		-			502			-			817
	Net income (loss) allocable to common shareholders		(3,970	)		52,788			(1,397	)		48,912

	Earnings (loss) per common share, basic and diluted
	Net income (loss) from continuing operations	$	(0.32	)	$	(0.60	)	$	(0.11	)	$	(0.81	)
	Net income (loss) from discontinued operations	$	-		$	4.92		$	-		$	4.81
	Net income (loss) allocable to common shareholders	$	(0.32	)	$	4.32		$	(0.11	)	$	4.00

	Weighted average common shares outstanding, basic and diluted		12,222,881			12,222,881			12,222,881			12,222,881