Conifer Holdings Inc Q3 2023 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Paul Newsome - Piper Sandler Companies - Analyst : Good morning. Thanks for the call. Congratulations to Nick for the position. I was hoping you could start with the transaction you did with Core Specialty and how you think that will affect the results prospectively. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 10, 2023 / 1:30PM, CNFR.OQ - Q3 2023 Conifer Holdings Inc Earnings Call

Question: Paul Newsome - Piper Sandler Companies - Analyst : So it looks like it was roughly a third of your gross premiums. So I assume that that -- there's no replacement for that. Some prospectively, we should basically assume your gross premiums are up by a third and impact on earned revenue should be, like, earned in, or -- I think they bought the premium business. So the UPR. So I would guess that next quarter, you're basically looking for a third less revenues (technical difficulty) insurance. Is that fairly right roughly?

Question: Paul Newsome - Piper Sandler Companies - Analyst : I would guess -- but I know this [isn't] certain because it happened at the end of the quarter. There was a difference between what you were from a gross premiums perspective and a net revenue. That was a fairly unusual. Is that the transaction happening that factor that very low net written premium number in third quarter?

Question: Paul Newsome - Piper Sandler Companies - Analyst : Great. Thank you very much.