Conifer Holdings, Inc.

Good morning and welcome to the Conifer Holdings Q1 2021 Investor Conference Call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star then two. Please note, this event is being recorded. I would now like to turn the conference over to Adam Pryor with the Equity Group. Please go ahead.

Thank you, and good morning, everyone. Conifer issued its 2021 first quarter financial results after the close of market yesterday. On the company's website, ir.cnfrh.com, You can find copies of the earnings release as well as the slide presentation that accompanies management's discussion today, which is available to view or download via webcast or from the investor relations portion of Conifer's website. Before we get started, the company has asked that I note that except with respect to historical information, statements made in this conference call may constitute forward-looking statements within the meaning of the federal securities laws, including statements relating to trends, the company's operations and financial results, and the business and the products of the company and its subsidiaries. Actual results from Conifer may differ materially from the results anticipated in these forward-looking statements. As a result of various risks and uncertainties underlying our forward-looking statements, including risks and uncertainties associated with COVID-19 and its impact on the economy and our business, as well as those risks described from time to time in Conifer's filings with the SEC, including our latest Form 10-K and subsequent reports. Conifer specifically disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future developments, or otherwise. In addition, a replay of this call will be provided through a link on the investor relations section of our website. During this call, we will also discuss non-GAAP financial measures as defined by SEC Regulation C. Excuse me, C. Reconciliations of these non-GAAP financial measures to the comparable GAAP financial measures are included when possible. in our earnings release and our historical SEC filing. Statutory accounting data is prepared in accordance with statutory accounting rules and is therefore not reconciled to JAP. We will conduct a Q&A session after management's prepared remarks this morning. With that, I'd now like to turn the call over to Mr. Jim Petkoff, Chairman and Chief Executive Officer. Jim, please go ahead.

Thank you, Adam. Good morning, everyone. On the call today with me are Nick, Harold, Andy, and Brian. As usual, I will provide a brief overview. Nick will discuss the underwriting results in greater detail, and Harold will cover the financials. Our first quarter included key progress on our top line. That provides us with good reason for optimism as we look ahead for the balance of this year. Conversely, the quarter also saw us incur property losses related to winter storm Uri, coupled with reserve strengthening on certain select commercial lines. On the production front, both commercial and personal lines saw significant growth, leading to an overall 21 percent quarter-over-quarter growth rate. We are very pleased with that trend of our top-line growth in that quarter and expect that to last for the rest of this year. Also in the quarter, we added to our reserves, further strengthening our overall reserve position as we address particular commercial lines, including the quick-service restaurants and Florida hospitality business. For the quarter within commercial lines, the biggest source of growth was in our small business segment. We largely attribute that to our expanding marketing efforts in the line of business where we have historically been profitable. Also, we expect the summer of 2021 to reflect a resurgence in economic activity as the impact of the pandemic lessens and more states open up. Nick will provide more details on that shortly. Over the past few quarters, we've talked about the adjustments we made to our operations at the pandemic's outset. The core efforts has been a mission to maintain our high level of customer service while also equipping our agents with the tools they need to do their jobs well. A large part of that effort ties to our ongoing development of technological solutions that allow our agents and employees to seamlessly do business anywhere. The premium growth exhibited in the first quarter continued the solid trend from the second half of last year and serves as proof that we have been successful in meeting our agents' needs and helping them grow their business in partnership with us. Looking ahead, while we do believe there are distinct benefits to having people in the office, we also intend to maintain a flexible operating model. Ultimately, what matters is that our agents and insureds feel our support of them and their businesses. For the remainder of 2021, our focus will continue to be on generating profitable premium growth with improvements in our top line through targeted rate increases and select new policy additions in our core specialty markets. We also intend to maintain the momentum we are enjoying in other markets, specifically small commercial business, and in our low-value dwelling operations. We look forward to profitable growth for the rest of 2021. With that, let me turn it over to Nick for more color on our underwriting. Nick.