ifer (US:CNFR)2023-11-10 13:38Financial Performance - Gross Written Premium (GWP) for Q3 2023 was $38.5 million, a 16.5% increase year-over-year[4] - Adjusted operating loss for Q3 2023 was $5.0 million, or $0.41 per share[37] - Net loss was $2.7 million, or $0.22 per share, based on 12.2 million average shares outstanding[68] - The expense ratio for Q3 2023 was 33.9%[23], beating the near-term target of 35%[75] Portfolio and Investments - Total investment portfolio was $159.0 million as of September 30, 2023[32] - The average credit quality of the investment portfolio is AA+[32] - Debt securities portfolio allocation: AAA (47%), AA (32%), A (13%), BBB (8%)[44] Business Lines - Commercial Lines represented approximately 74% of the premium written in Q3 2023[62] - Personal Lines production comprised approximately 26% of total premium in Q3 2023[84] - Personal Lines GWP increased 84.4% over Q3 2022[29] Personal Lines Top States - Texas accounted for 47.6% of Personal Lines Gross Written Premium with $12.95 million[27] - Oklahoma accounted for 45.9% of Personal Lines Gross Written Premium with $12.484 million[27]