The evergreen insurer: Conifer Holdings sets terms for $55 million IPO

Conifer Holdings, a property and casualty insurance provider focused on personal and commercial lines, announced terms for its IPO on Thursday.

The Birmingham, MI-based company plans to raise $55 million by offering 4.6 million shares at a price range of $11 to $13. At the midpoint of the proposed range, Conifer Holdings would command a fully diluted market value of $107 million.

Conifer Holdings, which was founded in 2009, plans to list on the Nasdaq under the symbol CNFR. BMO Capital Markets and Raymond James are the joint bookrunners on the deal. Conifer is expected to price in the week of August 10, 2015.