Presurance Holdings Inc (OTC: PRHI) is a property and casualty insurance holding company that underwrites homeowners and related property insurance through its insurance company subsidiaries. Revenue is generated from net premiums earned, investment income on the float held against policy reserves, and contingent consideration from prior asset divestitures. The company operates as an admitted insurer in multiple states, requiring participation in state insolvency funds and mandatory pools, including windstorm coverage facilities in certain states. As of the 10-K filed March 27, 2026 covering fiscal years ended December 31, 2025 and 2024, PRHI reported a net loss of $18.4 million for FY2025 compared to net income of $24.3 million in FY2024. The company carries material indebtedness through Senior Secured Notes, with debt service consuming a significant portion of operating cash flow. PRHI divested its 50% interest in SSU on August 30, 2024 for $6.5 million, retaining a program administration relationship with SSU for underwriting and systems support on homeowners programs, and entered a separate claims administration agreement with CIS following that entity's sale.

Revenue model

Net premiums earned from admitted property and casualty insurance policies, investment income from a fixed-income portfolio (estimated fair value $113.0 million as of December 31, 2025), and contingent consideration payments tied to gross revenue performance thresholds from the prior sale of CIS. A third contingent payment of up to $10.0 million from the CIS sale remains outstanding as of December 31, 2025, with fair value estimated at $4.3 million.

Products and services

Homeowners insurance and related property and casualty insurance policies underwritten through Insurance Company Subsidiaries. Policies are distributed through program administration arrangements, with SSU providing underwriting and systems support for homeowners programs following the August 30, 2024 divestiture. Claims administration is handled by CIS under a separate agreement.

Customers and end markets

Individual homeowners and property owners seeking admitted insurance coverage, including in states with mandatory windstorm and similar property coverage pools. Policyholders in catastrophe-exposed states are a material end market given participation in state windstorm facilities.

Value-chain role

Insurance carrier and underwriter. Assumes underwriting risk on homeowners and property policies, holds reserves against unpaid losses and loss adjustment expenses, and outsources program administration to SSU and claims administration to CIS following the 2024 divestitures. Reinsurance is purchased to limit net loss exposure.

Geographic exposure

Multi-state U.S. admitted insurer. Specific states not enumerated in the excerpts, but the company participates in windstorm and similar mandatory pools in certain states, indicating exposure to coastal or catastrophe-prone markets.

Source: SEC 10-K, filed 2026-03-27

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