Table of Contents As filed with the Securities and Exchange Commission on February 3, 2026 Registration No. 333-292735 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 1 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 PRESURANCE HOLDINGS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Michigan 6331 27-1298795 (Primary Standard Industrial Classification Code Number) (I.R.S. Emp ...

Core Financial Performance - American Financial Group reported fourth quarter net earnings of $299 million ($3.58 per share) for 2025, an increase from $255 million ($3.03 per share) in the fourth quarter of 2024 [1] - Core net operating earnings for the fourth quarter of 2025 were $305 million ($3.65 per share), compared to $262 million ($3.12 per share) in the same period of 2024, reflecting a record quarterly underwriting profit [2] - Full year net earnings for 2025 were $10.08 per share, down from $10.57 per share in 2024, with a return on equity of 17.8% for 2025 compared to 19.0% for 2024 [1][3] Underwriting and Premiums - The Specialty Property and Casualty (P&C) insurance operations achieved a combined ratio of 84.1% in the fourth quarter of 2025, improving from 89.0% in the prior year quarter, with underwriting profit reaching a record $287 million, a 41% increase year-over-year [12][10] - Gross written premiums for the fourth quarter of 2025 increased by 2%, while net written premiums decreased by 1% compared to the same period in 2024 [13] - Average renewal rates across the P&C Group, excluding workers' compensation, were up approximately 5% for the quarter, consistent with the previous quarter [14] Investment Performance - Net investment income for the fourth quarter of 2025 was approximately 12% lower than the comparable 2024 period, primarily due to lower returns from alternative investments [22] - The annualized return on alternative investments was 0.9% for the fourth quarter of 2025, down from 4.9% in the prior year quarter [22] - For the full year 2025, the return on alternative investments was 2.5%, compared to 6.1% in 2024 [23] Shareholder Returns - The company declared a special cash dividend of $1.50 per share, payable on February 25, 2026, in addition to a regular quarterly cash dividend of $0.88 per share [9] - AFG returned over $700 million to shareholders in 2025, including a 10% increase in the quarterly dividend and special dividends totaling $4.00 per share [11] Future Outlook - The company anticipates core operating earnings per share of approximately $11.00 for 2026, with a core operating return on equity excluding AOCI of approximately 18% [10] - Assumptions for 2026 include a growth in net written premiums of 3% to 5% compared to 2025 and a combined ratio of 92.5% [10]

Core Insights - Enact Holdings, Inc. reported strong financial results for Q4 2025, with a net income of $177 million, or $1.22 per diluted share, marking an increase from $163 million in Q3 2025 and Q4 2024 [1][4] - The company emphasized its disciplined execution and resilient credit performance, despite ongoing affordability pressures and interest rate volatility in the housing market [2] Financial Performance - Q4 2025 net income was $177 million, up from $163 million in Q3 2025 and Q4 2024, with diluted earnings per share increasing to $1.22 from $1.10 and $1.05 respectively [3][4] - Adjusted operating income for Q4 2025 was $179 million, or $1.23 per diluted share, compared to $166 million and $1.12 in Q3 2025, and $169 million and $1.09 in Q4 2024 [3][4] - New insurance written (NIW) was $14 billion, a 2% increase from Q3 2025 and an 8% increase from Q4 2024 [4][7] Operational Metrics - The primary insurance in-force (IIF) reached $273 billion, a 2% increase year-over-year [1][7] - The primary persistency rate was 80%, down from 83% in Q3 2025 and 82% in Q4 2024 [4][7] - Losses incurred in Q4 2025 were $18 million, with a loss ratio of 7%, significantly lower than $36 million and 15% in Q3 2025, and $24 million and 10% in Q4 2024 [3][7] Capital Management - The company returned over $500 million to shareholders in 2025, including $121 million in dividends and $382 million in share repurchases [1][4] - As of December 31, 2025, Enact held $257 million in cash and cash equivalents and $370 million in invested assets [7] - PMIERs sufficiency was reported at 162%, approximately $1.9 billion above requirements, consistent with Q3 2025 [7] Future Outlook - The company announced a new share repurchase program with authorization to buy up to $500 million of common stock, alongside a quarterly dividend of $0.21 per share [7]

Core Insights - Prudential Financial, Inc. reported a significant increase in net income for 2025, reaching $3.576 billion or $9.99 per share, compared to $2.727 billion or $7.50 per share in 2024, indicating a strong financial performance [5][6][7] - The company emphasized its commitment to customer trust and announced a voluntary 90-day suspension of new sales in Japan to address employee misconduct issues [4][6] Financial Performance - The total net income for the fourth quarter of 2025 was $905 million or $2.55 per share, a recovery from a net loss of $57 million or $0.17 per share in the same quarter of 2024 [7][5] - After-tax adjusted operating income for 2025 was $5.161 billion or $14.43 per share, up from $4.588 billion or $12.62 per share in 2024 [5][6] - Book value per common share increased to $92.05 from $77.62 year-over-year, while adjusted book value per common share rose to $100.17 from $95.82 [5][6] Business Segments - PGIM, Prudential's global investment management business, reported adjusted operating income of $249 million for Q4 2025, down from $259 million in the previous year, primarily due to higher expenses [9][10] - U.S. Businesses achieved adjusted operating income of $1.051 billion in Q4 2025, an increase from $860 million in Q4 2024, driven by higher net investment spread results and favorable underwriting [11][12] - International Businesses reported adjusted operating income of $757 million for Q4 2025, up from $742 million in the prior year, reflecting improved underwriting results [18][19] Capital Management - Prudential returned nearly $3 billion in capital to shareholders in 2025, with $730 million returned in Q4 alone, including $250 million in share repurchases and $480 million in dividends [3][5] - The company declared a quarterly dividend of $1.40 per common share, marking a 4% increase from the previous year and the 18th consecutive year of dividend increases [5][6] Market Position - Prudential's assets under management reached $1.609 trillion, up from $1.512 trillion year-over-year, indicating strong growth in the asset management sector [5][10] - The company highlighted its strategic focus on retirement markets, benefiting from global secular tailwinds driving growth [3][4]

The Hanover Reports Record Fourth Quarter Net Income and Operating Income of $5.47 and $5.79 per Diluted Share, Respectively; Record Full-Year Net Income and Operating Income of $18.16 and $19.09 per Diluted Share, Respectively [Accessibility Statement] Skip NavigationFourth Quarter Highlights- On December 1, 2025, the Board of Directors approved an increase of 5.6% to the ordinary quarterly cash dividend- Book value per share of $100.90, up 5.1% from September 30, 2025- Net investment income of $125.8 mill ...

Core Insights - The Q1 2026 Insurance Labor Market Study results will be presented in a complimentary webinar on February 19, 2026, at 1 p.m. CST, conducted by The Jacobson Group and Aon plc [1][2] - The study surveyed insurance carriers from January 12 to February 1, focusing on hiring and revenue plans for the next 12 months [2] - Key findings will be discussed by Jeffrey Blair from The Jacobson Group and Jeff Rieder from Aon, highlighting labor market trends and staffing expectations for the upcoming year [2][3] Industry Trends - The talent marketplace in the insurance industry is evolving, with leaders making strategic decisions that will affect their organizations' success in 2026 and beyond [3] - Financial performance in the insurance industry was strong in 2025, but analysts predict potential softening market conditions that may influence talent strategies based on product and geographic factors [3] Company Profiles - The Jacobson Group has over 50 years of experience as a leading provider of talent to the insurance industry, offering executive search services and comprehensive staffing solutions [4] - Aon plc operates globally, providing clients with insights and solutions to make better risk and people decisions, serving over 120 countries [6]

Core Viewpoint - Canadian Life Companies Split Corp. is initiating an offering of Preferred Shares and Class A Shares, with the offering led by National Bank Financial Inc. [1] Offering Details - The sales period for the overnight offering will conclude at 8:30 a.m. EST on February 4, 2026, with an expected closing date around February 11, 2026, pending TSX approval [2] - Preferred Shares are priced at $10.45 each, while Class A Shares are priced at $7.65 each [2] Share Performance and Dividends - As of February 2, 2026, the closing prices were $10.53 for Preferred Shares and $7.83 for Class A Shares [3] - Total dividends declared since inception are $12.85 per Preferred Share and $9.85 per Class A Share, amounting to a combined total of $22.70 per unit [3] - All distributions have been made in tax-advantaged eligible Canadian dividends or capital gains dividends [3] Investment Strategy - The net proceeds from the offering will be allocated to an actively managed portfolio primarily consisting of four publicly traded Canadian life insurance companies: Great‐West Lifeco Inc., iA Financial Corporation Inc., Manulife Financial Corporation, and Sun Life Financial Inc. [4] Investment Objectives - For Preferred Shares, the company aims to provide fixed, cumulative preferential monthly cash dividends at a rate of the greater of 7.00% or Prime Rate plus 2% (capped at 9%) annually based on the $10.00 original issue price, with a return of the original $10 issue price by December 1, 2030 [6] - For Class A Shares, the objective is to provide regular monthly cash dividends as determined by the directors, with remaining amounts paid to Class A shareholders after fulfilling obligations to Preferred Shareholders by December 1, 2030 [6]

Key Takeaways UNM is expected to post higher Q4 revenues and earnings, with sales expected to rise 1.4% year over year.Premium income is projected to grow 1.7%, supported by favorable persistency and better sales trends.Stronger results at Unum U.S., Colonial Life and International may offset lower net investment income.Unum Group (UNM) is expected to register an improvement in its top and bottom lines when it reports fourth-quarter 2025 results on Feb. 5, after the closing bell.The Zacks Consensus Estimate ...

Core Viewpoint - Ryan Cohen is attempting to transform GameStop into a conglomerate akin to Berkshire Hathaway, drawing comparisons to Warren Buffett's early career moves, despite significant differences in their investment training and backgrounds [5][19]. Group 1: Ryan Cohen's Investment Background - Ryan Cohen's investment journey began after selling Chewy for $3.35 billion in 2017, netting him approximately $1 billion, which he invested primarily in Apple and Wells Fargo stocks [7][9]. - Cohen co-founded Chewy, which became the leading online specialty pet products retailer, growing the U.S. pet industry from $48 billion in 2010 to $70 billion in 2017, with projections of $150 billion by 2024 and $350 billion globally [10][11]. Group 2: GameStop's Financial Position - GameStop's standard deviation was 2.81, placing it among the top 100 bullish price surprises, indicating high volatility and investor interest [5][6]. - The company has undergone significant changes, including a reduction in store count from 4,816 in January 2021 to approximately 2,733 by January 2026, a 43% decrease [15]. - GameStop's long-term debt increased from $14.9 million to $4.16 billion following share offerings and convertible notes, while cash and short-term investments rose from $1.08 billion to $8.83 billion [17]. Group 3: Investment Strategy and Future Outlook - Cohen's strategy involves leveraging the meme stock phenomenon to raise cash for potential acquisitions, with a focus on transforming GameStop into a more profitable entity [14][18]. - Michael Burry suggests that Cohen's acquisition of GameStop stock is a strategic move to position the company for a significant acquisition that could enhance future cash flow [18]. - The tangible book value of GameStop is currently at 2.2x, with expectations that it will double, indicating an aggressive growth outlook [18].

Core Insights - MGIC Investment Corporation (MTG) reported fourth-quarter 2025 operating net income per share of 75 cents, exceeding the Zacks Consensus Estimate by 2.7% and improving 4.2% year over year [1][10] - Total operating revenues decreased 0.9% year over year to $298.7 million, missing the Zacks Consensus Estimate by 2.9% [1][10] Operational Update - Insurance in force rose 2.6% year over year to $303.1 billion, surpassing the Zacks Consensus Estimate of $295.5 billion [5][10] - Primary delinquency increased 1.1% to 27,072 loans during the quarter [5] - Net premiums written fell 0.7% year over year to $230.5 million, below the estimate of $234.3 million [6] - Net investment income grew 0.5% year over year to $61.6 million, but was below both the estimate of $62.1 million and the Zacks Consensus Estimate of $62.4 million [6] - Persistency remained stable at 84.8% as of Dec. 31, 2025 [7] - New insurance written increased 7.5% year over year to $17.1 billion [7] - Underwriting and other expenses decreased 6.7% year over year to $45.8 million, but the loss ratio increased significantly to 13.2% from 3.6% in the prior-year quarter [7][10] - Total losses and expenses surged 28.8% year over year to $85.9 million due to a sharp rise in losses incurred [8][10] Financial Update - Book value per share increased 12.7% year over year to $23.47 as of Dec. 31, 2025 [11] - Shareholder equity was $5.1 billion as of Dec. 31, 2025, down 0.5% from the end of 2024 [11] - PMIERs Available Assets totaled $5.7 billion, exceeding the Minimum Required Assets by $2.5 billion [12] - Total assets rose 1.4% from the end of 2024 to $6.6 billion [12] - Senior notes increased by 0.2% to $646.1 million as of Dec. 31, 2025 [12] Capital Deployment - The company repurchased 6.8 million shares for $189.1 million and paid a dividend of $400 million to the holding company [13] - A dividend of 15 cents per common share was declared for shareholders [13] - In January 2026, the company executed a $324 million excess of loss reinsurance agreement covering certain policies written between Jan. 1, 2022, and March 31, 2025 [14] Full-Year Highlights - For the full year 2025, operating net income per share was $3.14, beating the Zacks Consensus Estimate by 11.7% and increasing 8.6% year over year [15] - Total operating revenues for the year were $1.2 billion, up 0.5% year over year, but missed the Zacks Consensus Estimate by 1.5% [15] - Net investment income rose 0.7% year over year to $246.26 million, but was below the estimate of $246.8 million [15]