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1. Company Snapshot

1.a. Company Description

Conifer Holdings, Inc., an insurance holding company, engages in the sale of property and casualty insurance products.It offers insurance coverage in specialty commercial and personal product lines.The company underwrites various specialty insurance products, including property, general liability, liquor liability, automobile, and homeowners and dwelling policies.


It serves the commercial insurance needs of owner-operated businesses in the markets, such as hospitality, which includes restaurants, bars, taverns, and bowling centers, as well as small grocery and convenience stores; artisan contractors comprising plumbers, painters, carpenters, electricians, and other independent contractors; and security service providers, including companies that provide security guard services, security alarm products and services, and private investigative services.The company also offers specialty homeowners insurance products, such as low- value dwelling insurance tailored for owners of lower valued homes in Illinois, Indiana, Louisiana, and Texas; and wholesale agency services comprising commercial and personal lines insurance products for its insurance company subsidiaries, as well as third party insurers.Conifer Holdings, Inc.


markets and sells its insurance products through a network of approximately 4,600 independent agents in 50 states in the United States.The company was incorporated in 2009 and is headquartered in Birmingham, Michigan.

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1.b. Last Insights on CNFR

Conifer Holdings' recent performance was driven by its Q2 2025 financial results, which showcased the company's resilience. The release of these results on August 13, 2025, provided stakeholders with insights into its current business condition. Although details of the earnings report are not provided, the announcement itself may have instilled confidence in investors. Any positive commentary on the company's performance, growth prospects, or strategic initiatives within the report could be fueling optimism. Additionally, if Conifer's board authorized a share buyback program, it would signal a positive development, indicating management's confidence in the company's future prospects.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Conifer Holdings Announces Corporate Rebrand to Presurance Holdings, Inc.

Sep -29

Source: globenewswire.com

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Conifer Holdings Reports 2025 Second Quarter Financial Results

Aug -13

Source: globenewswire.com

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Conifer Holdings Reports 2025 First Quarter Financial Results

May -14

Source: globenewswire.com

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Conifer Holdings Reports 2024 Fourth Quarter and Year End Financial Results

Mar -28

Source: globenewswire.com

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Conifer Holdings Reports 2024 Third Quarter Financial Results

Nov -13

Source: globenewswire.com

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Bishop Street Underwriters Acquires Conifer Insurance Services

Sep -05

Source: globenewswire.com

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Conifer Holdings Reports 2024 Second Quarter Financial Results

Aug -13

Source: globenewswire.com

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Conifer Holdings Schedules Second Quarter 2024 Earnings Conference Call/Webcast for August 14, 2024

Aug -12

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (5.61%)

6. Segments

Commercial Lines

Expected Growth: 4.65%

Conifer Holdings' Commercial Lines segment growth of 4.65% is driven by increasing demand for specialty insurance products, expansion into new markets, and strategic partnerships. Additionally, the company's focus on niche markets, such as artisan contractors and small businesses, has contributed to its growth. Furthermore, Conifer's efforts to enhance its underwriting capabilities and improve operational efficiency have also supported its growth momentum.

Personal Lines

Expected Growth: 7.4%

Conifer Holdings' Personal Lines segment growth of 7.4% is driven by strategic partnerships, expanded product offerings, and geographic expansion into underserved markets. Additionally, investments in digital platforms and data analytics have enhanced underwriting capabilities, leading to improved risk selection and pricing. Furthermore, a focus on customer retention and acquisition has contributed to the segment's growth.

Wholesale Agency

Expected Growth: 7.43%

Conifer Holdings' Wholesale Agency segment growth of 7.43% is driven by strategic partnerships, expansion into new markets, and increased demand for specialty insurance products. Additionally, the company's focus on technology-driven underwriting and risk management has improved operational efficiency, leading to increased profitability and growth.

Eliminations

Expected Growth: 4.83%

Conifer Holdings, Inc.'s 4.83% growth is driven by strategic acquisitions, expansion into new markets, and increased premium writings in its specialty insurance segments. Additionally, the company's focus on underwriting discipline, rate increases, and improved expense management have contributed to its growth momentum.

Corporate

Expected Growth: 7.43%

Conifer Holdings, Inc.'s 7.43% corporate growth is driven by strategic acquisitions, expansion into new markets, and increased penetration in existing ones. Additionally, the company's focus on niche insurance products and effective cost management have contributed to its growth. Furthermore, a strong capital position and disciplined underwriting practices have enabled the company to capitalize on market opportunities.

7. Detailed Products

Homeowners Insurance

Conifer Holdings, Inc. offers homeowners insurance policies that provide financial protection to homeowners in the event of damage to their property or liability for accidents that occur on their property.

Auto Insurance

Conifer Holdings, Inc. provides auto insurance policies that cover damages to vehicles, as well as liability for accidents and other incidents.

Commercial Auto Insurance

Conifer Holdings, Inc. offers commercial auto insurance policies that provide coverage for business-owned vehicles and drivers.

General Liability Insurance

Conifer Holdings, Inc. provides general liability insurance policies that protect businesses from financial losses due to accidents, injuries, or property damage.

Workers' Compensation Insurance

Conifer Holdings, Inc. offers workers' compensation insurance policies that provide wage replacement and medical benefits to employees injured on the job.

8. Conifer Holdings, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Conifer Holdings, Inc. operates in the insurance industry, which has a moderate threat of substitutes. While there are alternative insurance providers, the company's niche focus on specialty insurance products and its strong underwriting capabilities help to differentiate it from competitors.

Bargaining Power Of Customers

Conifer Holdings, Inc. has a diverse customer base, which reduces the bargaining power of individual customers. Additionally, the company's specialty insurance products are often tailored to specific industries or niches, making it difficult for customers to switch to alternative providers.

Bargaining Power Of Suppliers

Conifer Holdings, Inc. relies on a network of independent agents and brokers to distribute its insurance products. While the company has some bargaining power due to its size and scale, suppliers may still have some negotiating power due to the specialized nature of the insurance industry.

Threat Of New Entrants

The insurance industry has significant barriers to entry, including regulatory hurdles and capital requirements. Conifer Holdings, Inc. has a strong brand and established distribution network, making it difficult for new entrants to gain traction in the market.

Intensity Of Rivalry

The insurance industry is highly competitive, with many established players vying for market share. Conifer Holdings, Inc. operates in a niche segment, but still faces intense competition from larger insurers and specialty providers.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 89.76%
Debt Cost 7.28%
Equity Weight 10.24%
Equity Cost 7.28%
WACC 7.28%
Leverage 876.95%

11. Quality Control: Conifer Holdings, Inc. passed 0 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Root

A-Score: 5.5/10

Value: 6.6

Growth: 8.6

Quality: 7.2

Yield: 0.0

Momentum: 9.5

Volatility: 1.0

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American Coastal Insurance

A-Score: 5.3/10

Value: 7.5

Growth: 4.9

Quality: 5.8

Yield: 6.0

Momentum: 3.5

Volatility: 4.3

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ProAssurance

A-Score: 5.2/10

Value: 6.1

Growth: 2.9

Quality: 7.1

Yield: 0.0

Momentum: 9.5

Volatility: 5.7

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Hagerty

A-Score: 5.1/10

Value: 3.0

Growth: 8.4

Quality: 6.6

Yield: 0.0

Momentum: 7.0

Volatility: 5.3

1-Year Total Return ->

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Lemonade

A-Score: 4.8/10

Value: 6.4

Growth: 7.0

Quality: 4.1

Yield: 0.0

Momentum: 10.0

Volatility: 1.0

1-Year Total Return ->

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Conifer Holdings

A-Score: 4.2/10

Value: 5.8

Growth: 3.2

Quality: 6.8

Yield: 0.0

Momentum: 9.0

Volatility: 0.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

1.48$

Current Price

1.48$

Potential

-0.00%

Expected Cash-Flows