Overview

* Conifer Q2 net income $2.1 mln, driven by earnout valuation recognition

* Gross written premiums rise 11.1% yr/yr, led by personal lines growth

* Adjusted operating loss of $2.1 mln reflects higher expense ratios

Outlook

* Company continues to focus on Personal Lines, especially in Texas and Midwest

* Conifer aims to streamline operations by running off Commercial Lines

Result Drivers

* EARNOUT RECOGNITION - Gains in Q2 driven by partial recognition of an earnout related to last year's CIS sale, per CEO Brian Roney

* PERSONAL LINES GROWTH - Gross written premiums rose 11.1% to $21.1 mln, led by a 46.8% increase in the Personal Lines business, particularly in Texas and the Midwest

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Gross $21.08

Written mln

Premiums

Q2 -$2.07

Adjusted mln

Operatin

g Income

Q2 121.1%

Combined

Ratio

Q2 52.3%

Expense

Ratio

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)