Conifer Holdings Priced, Nasdaq: CNFR

Specialty property insurance provider led by executives from North Pointe.

Industry: Financials

Latest Trade: $7.20 0.00 (0.0%)

First Day Return: +1.0%

Return from IPO: -31.4%

Industry: Financials

We are an insurance holding company and market and service our product offerings through specialty commercial and specialty personal insurance business lines. Our growth has been significant since our founding in 2009. Our gross premium written increased from $14.0 million in 2011, to $83.8 million in 2014. We were constrained by a non-compete agreement to which our chief executive officer was subject until late 2012. Our growth in gross written premium accelerated in 2013 and 2014 following the expiration of the non-compete agreement which allowed us to pursue key markets and relationships that were previously restricted. In 2014, we raised $28.5 million in total new common equity, including $13.6 million from existing employees to support this growth in premium.
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IPO News for Conifer Holdings
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IPO Data
IPO File Date 07/02/2015
Offer Price $10.50
Price Range $11.00 - $13.00
Offer Shares (mm) 3.1
Deal Size ($mm) $33
IPO Data
IPO Date 08/12/2015
Offer Price $10.50
Price Range $11.00 - $13.00
Offer Shares (mm) 3.1
Deal Size ($mm) $33
Underwriters
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Company Data
Headquarters Birmingham, MI
Founded 2009
Employees 113
Website www.coniferinsurance.com