Presurance Q1 Net Income Soars to $2.6M as Gross Written Premiums Drop 29.1%
Presurance Holdings reported first-quarter net income of $2.6 million ($0.15 per share) versus $522,000 ($0.04) in the prior year, driven by underwriting improvements. Gross written premiums declined 29.1% to $11.47 million as it exited commercial lines business, while combined ratio improved to 105.7% from 140.5%.
1. First Quarter Net Income and EPS
Presurance Holdings reported net income of $2.6 million, or $0.15 per share, for the first quarter ended March 31, 2026, compared with $522,000, or $0.04 per share, in the same period last year.
2. Underwriting Ratios Improved Significantly
The company’s combined ratio improved to 105.7% from 140.5% a year earlier, while the loss ratio fell to 56.2% from 89.7%, reflecting stronger underwriting discipline and lower claims costs.
3. Premium Declines Reflect Commercial Exit
Gross written premiums fell 29.1% to $11.47 million and net written premiums dropped 44.0% to $6.08 million due to an exit from legacy commercial lines business.
4. Strategic Repositioning Toward Personal Lines
Management highlighted progress in shifting toward select personal homeowners lines, with personal combined ratio improving to 97.9% and expense ratio declining to 35.7%, aiming for sustainable profitability.