FedNat Holding Company (FNHC)

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About FedNat Holding Company

FedNat Holding Company, through its subsidiaries, engages in the insurance underwriting, distribution, and claims processing business in Florida, Louisiana, South Carolina, Texas, and Alabama. The company is involved in the homeowners, and fire property and casualty insurance; and personal automobile insurance businesses, as well as commercial general liability and federal flood businesses. It markets and distributes its own and third-party insurers’ products, and other services through a network of independent and general agents. The company was formerly known as Federated National Holding Company and changed its name to FedNat Holding Company in May 2018. FedNat Holding Company was founded in 1991 and is based in Sunrise, Florida. Address: 14050 N.W. 14th Street, Sunrise, FL, United States, 33323

FedNat Holding Company News and around…

Latest news about FedNat Holding Company (FNHC) common stock and company :

Insurance Stocks Moving In Tuesday's Intraday Session
26 Oct, 2021 FinancialContent

According to Benzinga Pro following are the gainers and losers in Insurance industry for today's Intraday session. ...

Insurance Stocks Moving In Monday's Intraday Session
25 Oct, 2021 FinancialContent

According to Benzinga Pro following are the gainers and losers in Insurance industry for today's Intraday session. ...

Insurance Stocks Moving In Friday's Intraday Session
22 Oct, 2021 FinancialContent

According to Benzinga Pro following are the gainers and losers in Insurance industry for today's Intraday session. Gainers Donegal ...

FedNat Announces Third Quarter 2021 Earnings Call for Tuesday, November 9, 2021
21 Oct, 2021 Yahoo! Finance

SUNRISE, Fla., Oct. 21, 2021 (GLOBE NEWSWIRE) -- FedNat Holding Company (Nasdaq: FNHC), a regional insurance holding company, will announce its 2021 third quarter financial results after 4:00 PM (ET) on Monday, November 8, 2021. The investor conference call will be held on Tuesday, November 9, 2021, at 9:00 AM (ET). A live webcast of the call will be available in the investor relations section of the FedNat website, or by following this link. Listeners interested in participating in the Q&A sess

Insurance Stocks Moving In Wednesday's Intraday Session
13 Oct, 2021 FinancialContent

According to Benzinga Pro following are the gainers and losers in Insurance industry for today's Intraday session. ...

Insurance Stocks Moving In Thursday's Intraday Session
30 Sep, 2021 FinancialContent

According to Benzinga Pro following are the gainers and losers in Insurance industry for today's Intraday session. Gainers Conifer ...

FedNat’s Strategic Review Committee Provides Update
15 Sep, 2021 FinancialContent
FedNat Holding Earnings Perspective: Return On Capital Employed
14 Sep, 2021 FinancialContent

FedNat Holding (NASDAQ:FNHC) brought in sales totaling $59.04 million during Q2 according to data provided by Benzinga Pro.However, ...

Even after rising 24% this past week, FedNat Holding (NASDAQ:FNHC) shareholders are still down 87% over the past three years
17 Aug, 2021 Yahoo! Finance

It's nice to see the FedNat Holding Company ( NASDAQ:FNHC ) share price up 24% in a week. But the last three years have...

FG Financial Group, Inc. Reports Second Quarter 2021 Financial Results
16 Aug, 2021 FinancialContent

FG Financial Group, Inc. (Nasdaq:FGF) (the “Company”), a reinsurance and investment management holding company focused on opportunistic collateralized and loss capped reinsurance, while allocating capital to SPAC and SPAC sponsor-related businesses, today announced results for the second quarter and six months ended June 30, 2021.

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10 Aug, 2021 FinancialContent

Before 10 a.m. ET on Tuesday, 60 companies set new 52-week lows. Key Facts: PACCAR (NASDAQ:PCAR) was the ...

FedNat Holding Company Reports Second Quarter 2021 Results
09 Aug, 2021 FinancialContent
FedNat Announces Rescheduling of Second Quarter 2021 Earnings Call for Tuesday, August 10, 2021
02 Aug, 2021 FinancialContent
FedNat Sets Second Quarter 2021 Earnings Call for Wednesday, August 4, 2021
20 Jul, 2021 FinancialContent
Analysts Expect 13% Upside For The Holdings of VTWV
16 Jul, 2021 FinancialContent

Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the Vanguard Russell 2000 Value ETF (VTWV), we found that the implied analyst target price for the ETF based upon its underlying holdings is $156.59 per unit.

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07 Jul, 2021 FinancialContent

Before 10 a.m. ET on Wednesday, 49 companies set new 52-week lows. Noteworthy Highlights: The largest company in ...

Do Hedge Funds Love FedNat Holding Co (FNHC)?
30 Jun, 2021 Yahoo! Finance

Last year we predicted the arrival of the first US recession since 2009 and we told in advance that the market will decline by at least 20% in (Recession is Imminent: We Need A Travel Ban NOW). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each stock […]

Noteworthy Thursday Option Activity: LCI, GMS, FNHC
03 Jun, 2021 FinancialContent

Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Lannett Co., Inc. (LCI), where a total of 9,032 contracts have traded so far, representing approximately 903,200 underlying shares..

FG Financial Group, Inc. Reports First Quarter 2021 Financial Results
14 May, 2021 FinancialContent

FG Financial Group, Inc. (Nasdaq:FGF) (the “Company”), a reinsurance and investment management holding company focused on opportunistic collateralized and loss capped reinsurance, while allocating capital to SPAC and SPAC sponsor-related businesses, today announced results for the first quarter ended March 31, 2021.

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06 May, 2021 FinancialContent

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Notable Wednesday Option Activity: FNHC, NUS, CEVA
05 May, 2021 FinancialContent

Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in FedNat Holding Co (FNHC), where a total of 758 contracts have traded so far, representing approximately 75,800 underlying shares. That amounts to about 68.7% of FNHC's average daily trading volume over the past month of 110,325 shares..

FedNat Holding Co. to Host Earnings Call
05 May, 2021 Yahoo! Finance

NEW YORK, NY / ACCESSWIRE / May 5, 2021 / FedNat Holding Co. (NASDAQ:FNHC) will be discussing their earnings results in their 2021 First Quarter Earnings call to be held on May 5, 2021 at 9:00 AM Eastern Time.

FedNat Holding Company Reports First Quarter 2021 Results
04 May, 2021 Yahoo! Finance

SUNRISE, Fla., May 04, 2021 (GLOBE NEWSWIRE) -- FedNat Holding Company (the “Company”) (Nasdaq: FNHC) today reported results for the three months ended March 31, 2021. Q1 2021 highlights (as measured against the same three-month period last year, except where noted): Net loss of $19.4 million or $(1.35) per diluted share compared to net income of $2.1 million or $0.15 per diluted share.Adjusted operating loss of $19.4 million or $(1.35) per diluted share as compared to adjusted operating income of $4.3 million or $0.30 per diluted share.$18.3 million of claims, net of reinsurance recoveries, pre-tax, from catastrophe losses driven primarily by Winter Storm Uri ("Uri"), which caused heavy residential damage in Texas, as previously communicated.$174.2 million of gross written premiums, compared to $173.0 million.Gross loss ratio, excluding catastrophe losses, of 36.5% and gross expense ratio of 26.0%, as compared to 38.4% and 25.9%, respectively, in the first quarter of 2020.Combined ratio of 189.0%, up 83.7 percentage points, including 33.0 points of net catastrophe losses in the period.$13.6 million of incremental ceded premiums related to additional excess-of-loss reinsurance purchases and reinstatement premiums from 2020/2021 treaty year retention events.Florida homeowners in-force policies decreased 17.9% to approximately 197,000, while Florida gross premiums written increased 0.4%, reflecting continued execution of our strategy to limit our Florida exposure while increasing revenue per policy, until rates more accurately reflect increased costs of claims and reinsurance.6.4% increase in non-Florida homeowners in-force policies to approximately 149,000, in-line with our geographic diversification strategy.On March 15, 2021, the Company closed an underwritten public offering of 3,500,000 shares of its common stock for net proceeds of approximately $15.1 million. Subsequent to the first quarter, on April 20, 2021, FedNat raised $21.0 million from a convertible notes offering.Non-insurance company liquidity of $71 million at March 31, 2021.Book value per share decreased $3.03, or 26.3%, to $8.50 as compared to $11.53 as of December 31, 2020, due primarily to a net loss of $(1.35) per share, issuance of common stock of $1.05 per share and unrealized losses on our fixed-income portfolio of $(0.50) per share, each for the three months ended March 31, 2021. Mr. Michael H. Braun, FedNat’s Chief Executive Officer, said "Our first quarter results were impacted by higher-than-expected catastrophe losses primarily from Winter Storm Uri which caused heavy residential damage in Texas in February. I want to thank our dedicated staff for continuing to demonstrate FedNat’s commitment to providing our policyholders and partner agents with the highest quality service in their time of need.” Mr. Braun continued, “This winter storm was the sixth severe weather event to impact FedNat since July 1, which has resulted in challenging times for the Company financially. To meet these challenges, FedNat took action to conserve liquidity at the holding company and maintain appropriate capital positions at our insurance companies. FedNat recently completed two capital raising transactions which raised gross proceeds of $38 million and purchased additional reinsurance coverage to help provide more protection and statutory surplus relief for our insurance companies. We continue to execute on our initiatives to improve the profitability of our homeowners business and build long-term value, including implementation of rate increases in both our Florida and non-Florida markets and reducing our Florida book of business until rates are more adequate. Based on the in-force book as of the fourth quarter of 2020, these rate increases would contribute over $90 million in incremental gross earned premium in 2021 and over $230 million of cumulative incremental premium in 2021 and 2022, as compared to 2020, when fully earned out in the first quarter of 2022. However, these multiple rate increases afford us the opportunity to hold our total in-force premiums flat while reducing our total policy counts and total insured values.” Mr. Braun further added, “Insurance legislation was recently passed in Florida and now awaits the governor's signature. We are hopeful that this legislation will slow the persistently increasing cost of operating in Florida; however, we will remain cautious until we see evidence of potential benefits over the second half of 2021. In addition, as a result of our continued exposure management efforts to reduce our property exposures, we expect a reduction in the total spend on our catastrophe reinsurance program beginning July 1, 2021 due to our smaller portfolio of business. While we recognize there is pressure on reinsurance pricing, particularly on the working layers of our program, our lower anticipated total reinsurance spend beginning July 1 is a direct result of our smaller book of business, along with the cost of our recent subsequent purchases being fully recognized by June 30.” Revenues Total revenue decreased $63.0 million or 54.4%, to $52.7 million for the three months ended March 31, 2021, compared with $115.7 million for the three months ended March 31, 2020. The decrease was driven by increases in ceded premiums earned from incremental quota share agreements and higher catastrophe reinsurance costs as well as lower net investment income and policy fees, partially offset by higher investment gains and other income, all of which are discussed in further detail below.Gross premiums written increased $1.2 million, or 0.7%, to $174.2 million in the quarter compared with $173.0 million for the same three-month period last year. Overall, Homeowners grew 0.2% as a result of rate actions that we have taken across our insurance subsidiaries, offset by our strategic reduction in policies in-force and exposure in the state of Florida, as a result of the challenging litigation environment.Gross premiums earned increased $3.4 million, or 2.0%, to $179.0 million for the three months ended March 31, 2021, as compared to $175.6 million for the three months ended March 31, 2020. The higher gross premiums earned was primarily driven by continued non-Florida growth.Ceded premiums increased $69.6 million, or 99.9%, to $139.3 million in the quarter, compared to $69.7 million the same three-month period last year. The increase was driven by approximately $23 million higher excess of loss reinsurance spend, as prices and overall property exposures increased this year as compared to last year. Included in this higher excess of loss reinsurance spend was $13.6 million of purchased supplemental coverage to backfill layers and gaps in coverage stemming from the non-cascading portion of our reinsurance tower and number of catastrophe events. Furthermore, we had approximately $24 million of additional ceded premiums related to the 80% quota-share treaty for FNIC's non-Florida book of business that became effective during the second half of 2020 and $20 million of additional ceded premiums related to quota-share treaties for FNIC's Florida book of business. The increase to ceded premium earned associated with the aforementioned quota-share treaties is largely offset by corresponding reductions in loss and LAE, and commission and other underwriting expenses when comparing the periods.Net investment income decreased $2.2 million, or 57.0%, to $1.7 million during the three months ended March 31, 2021, as compared to $3.9 million during the three months ended March 31, 2020. This decrease was driven by our smaller fixed income portfolio as well as a decline in the associated yield as a result of declining interest rates during the last year.Net realized and unrealized investment gains (losses) increased $2.9 million, to $0.1 million for the three months ended March 31, 2021, compared to $(2.8) million in the prior year period. We recognized ($0.1) million and $(3.3) million in unrealized investment gains (losses) for equity securities during these respective periods.Other income increased $2.6 million, or 50.7%, to $7.9 million in the quarter, compared with $5.3 million in the same three-month period last year. The increase in other income was primarily driven by higher brokerage revenue. The brokerage revenue increase is the result of higher excess of loss reinsurance spend from the reinsurance programs in place, including the additional purchases, during the first quarter of 2021 as compared to the first quarter of 2020. Expenses Losses and loss adjustment expenses (“LAE”) decreased $20.9 million, or 30.3%, to $48.0 million for the three months ended March 31, 2021, compared with $68.9 million for the same three-month period last year. The net loss ratio increased 55.7 percentage points, to 120.8% in the current quarter, as compared to 65.1% in the first quarter of 2020. The higher loss ratio was primarily the result higher catastrophe net losses as well as higher ceded premiums, as discussed earlier, which reduces net earned premiums, the denominator on the net loss ratio calculation, when comparing the periods. The first quarter 2021 catastrophe net losses were driven primarily by Winter Storm Uri, which caused heavy residential damage in Texas, primarily associated with freezing temperatures causing widespread instances of burst water pipes. The first quarter 2020 catastrophe net losses were driven primarily by a number of hail and wind related severe weather events. These higher catastrophe net losses were partially offset by higher quota share cessions for both FNIC Florida and non-Florida during the quarter.Our gross expense ratio was 26.0% during the three months ended March 31, 2021, as compared to 25.9% during the three months ended March 31, 2020. The net expense ratio increased 28.0% percentage points to 68.2% in the first quarter of 2021, as compared to 40.2% in the first quarter of 2020 due primarily to higher ceded reinsurance premiums in 2021, as discussed earlier.Commissions and other underwriting expenses decreased $15.4 million, or 42.2%, to $21.0 million for the three months ended March 31, 2021, compared with $36.4 million for the three months ended March 31, 2020. This decrease was primarily due to a higher ceding commission driven by the new quota-share treaties in FNIC's Florida and non-Florida books of business. Additionally, when comparing these periods, the decrease was partially offset by higher non-Florida acquisition related costs, which includes gross commissions, fees and other underwriting expenses as a result of premium growth.Income taxes (benefits) decreased $5.0 million, to $(4.9) million for the three months ended March 31, 2021, compared to $0.1 million for the three months ended March 31, 2020. This decrease is predominantly the result of the pre-tax loss during the current quarter as compared to income during the first quarter of 2020. Subsequent Events On April 20, 2021, the Company closed on an offering and issued $21.0 million in aggregate principal amount of Senior Unsecured Notes due 2026 ("2026 Notes") bearing interest at a fixed rate of 5.0% per year, payable semi-annually. The 2026 Notes are convertible into shares of the Company's common stock at an initial conversion rate of 166.6667 shares per $1,000 principal amount of 2026 Notes, equivalent to an initial conversion price of $6.00 per share. Non-GAAP Performance Measures Non United States generally accepted accounting principles ("GAAP") measures do not replace the most directly comparable GAAP measures and we have included detailed reconciliations thereof on page 10. We exclude the after-tax (using our statutory income tax rate) effects of the following items from GAAP net income (loss) to arrive at adjusted operating income (loss): Net realized and unrealized gains (losses), including, but not limited to, gains (losses) associated with investments and early extinguishment of debt;Merger and acquisition, integration and other strategic costs and the amortization of specifically identifiable intangibles (other than value of business acquired);Impairment of intangibles;Income (loss) from initial adoption of new regulations and accounting guidance; andIncome (loss) from discontinued operations. We also exclude the pre-tax effect of the first bullet above from GAAP revenues to arrive at adjusted operating revenues. Management believes these non-GAAP performance measures allow for a better understanding of the underlying trend in our business, as the excluded items are not necessarily indicative of our operating fundamentals or performance. Similarly, we exclude accumulated other comprehensive income (loss) ("AOCI") from book value per share to arrive at book value per share, excluding AOCI. Conference Call Information The Company will hold an investor conference call at 9:00 AM (ET) Wednesday, May 5, 2021. The Company’s CEO, Michael Braun and its CFO, Ronald Jordan will discuss the financial results and review the outlook for the Company. Messrs. Braun and Jordan invite interested parties to participate in the conference call. Listeners interested in participating in the Q&A session may access the conference call as follows: Toll-Free Dial-in: (877) 303-6913 Conference ID: 6396507 A live webcast of the call will be available online via the “Conference Calls” section of the Company’s website at FedNat.com or interested parties can click on the following link: http://www.fednat.com/investors/conference-calls/ Please call at least five minutes in advance to ensure that you are connected prior to the presentation. A webcast replay of the conference call will be available shortly after the live webcast is completed and may be accessed via the Company’s website. About the Company FedNat Holding Company is a regional insurance holding company that controls substantially all aspects of the insurance underwriting, distribution and claims processes through our subsidiaries and contractual relationships with independent agents and general agents. The Company, through its wholly owned subsidiaries FedNat Insurance Company, Maison Insurance Company and Monarch National Insurance Company, is focused on providing homeowners insurance in Florida, Texas, Louisiana, Alabama, South Carolina and Mississippi. More information is available at https://www.fednat.com/investor-relations/. Forward-Looking Statements Safe harbor statement under the Private Securities Litigation Reform Act of 1995: Statements that are not historical fact are forward-looking statements that are subject to certain risks and uncertainties that could cause actual events and results to differ materially from those discussed herein. Without limiting the generality of the foregoing, words such as “anticipate,” “believe,” “budget,” “contemplate,” “continue,” “could,” “envision,” “estimate,” “expect,” “guidance,” “indicate,” “intend,” “may,” “might,” “plan,” “possibly,” “potential,” “predict,” “probably,” “pro-forma,” “project,” “seek,” “should,” “target,” or “will” or the negative or other variations thereof, and similar words or phrases or comparable terminology, are intended to identify forward-looking statements. Forward-looking statements might also include, but are not limited to, one or more of the following: Projections of revenues, income, earnings per share, dividends, capital structure or other financial items or measures;Descriptions of plans or objectives of management for future operations, insurance products or services;Forecasts of future insurable events, economic performance, liquidity, need for funding and income; andDescriptions of assumptions or estimates underlying or relating to any of the foregoing. The risks and uncertainties include, without limitation, risks and uncertainties related to estimates, assumptions and projections generally; the nature of the Company’s business; the adequacy of its reserves for losses and loss adjustment expense; claims experience; weather conditions (including the severity and frequency of storms, hurricanes, tornadoes and hail) and other catastrophic losses; reinsurance costs and the ability of reinsurers to indemnify the Company; raising additional capital and our compliance with minimum capital and surplus requirements; potential assessments that support property and casualty insurance pools and associations; the effectiveness of internal financial controls; the effectiveness of our underwriting, pricing and related loss limitation methods; changes in loss trends, including as a result of insureds’ assignment of benefits; court decisions and trends in litigation; our potential failure to pay claims accurately; ability to obtain regulatory approval applications for requested rate increases, or to underwrite in additional jurisdictions, and the timing thereof; the impact that the results of our subsidiaries’ operations may have on our results of operations; inflation and other changes in economic conditions (including changes in interest rates and financial markets); pricing competition and other initiatives by competitors; legislative and regulatory developments; the outcome of litigation pending against the Company, and any settlement thereof; dependence on investment income and the composition of the Company’s investment portfolio; insurance agents; ratings by industry services; the reliability and security of our information technology systems; reliance on key personnel; acts of war and terrorist activities; and other matters described from time to time by the Company in releases and publications, and in periodic reports and other documents filed with the United States Securities and Exchange Commission. In addition, investors should be aware that generally accepted accounting principles prescribe when a company may reserve for particular risks, including claims and litigation exposures. Accordingly, results for a given reporting period could be significantly affected if and when a reserve is established for a contingency. Reported results may therefore appear to be volatile in certain accounting periods. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We do not undertake any obligation to update publicly or revise any forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made. Contacts Michael H. Braun, CEO (954) 308-1322,Ronald Jordan, CFO (954) 308-1363,Bernard Kilkelly, Investor Relations (954) 308-1409,or investorrelations@fednat.com FEDNAT HOLDING COMPANY AND SUBSIDIARIESSelected Financial Highlights(Dollars in thousands, except per share data)(Unaudited) As of or For the Three Months Ended March 31, 2021 2020 % ChangeNet Income (Loss) Attributable to Common Shareholders Net income (loss) $(19,381) $2,133 (1,008.6)%Adjusted operating income (loss) (19,415) 4,320 (549.4)% Per Common Share Net income (loss) - diluted $(1.35) $0.15 (1,003.4)%Adjusted operating income (loss) - diluted (1.35) 0.30 (546.8)%Dividends declared — 0.09 (100.0)%Book value 8.50 17.15 (50.4)%Book value, excluding AOCI 8.26 16.70 (50.6)% Return to Shareholders Repurchases of common stock $— $6,750 NCMDividends declared — 1,302 (100.0) % $— $8,052 (100.0) % Revenue Total revenues $52,748 $115,699 (54.4)%Adjusted operating revenues 52,656 118,524 (55.6)%Gross premiums written 174,207 172,962 0.7 %Gross premiums earned 179,002 175,574 2.0 %Net premiums earned 39,745 105,910 (62.5)% Ratios to Net Premiums Earned Net loss ratio 120.8 % 65.1 % Net expense ratio 68.2 % 40.2 % Combined ratio 189.0 % 105.3 % In-Force Homeowners Policies Florida 197,000 240,000 (17.9)%Non-Florida 149,000 140,000 6.4 % 346,000 380,000 (8.9)% FEDNAT HOLDING COMPANY AND SUBSIDIARIESConsolidated Statement of Operations(In thousands, except per share data)(Unaudited) Three Months Ended March 31, 2021 2020Revenues: Net premiums earned $39,745 $105,910 Net investment income 1,674 3,892 Net realized and unrealized investment gains (losses) 92 (2,825) Direct written policy fees 3,315 3,466 Other income 7,922 5,256 Total revenues 52,748 115,699 Costs and expenses: Losses and loss adjustment expenses 48,016 68,930 Commissions and other underwriting expenses 21,031 36,355 General and administrative expenses 6,066 6,245 Interest expense 1,926 1,915 Total costs and expenses 77,039 113,445 Income (loss) before income taxes (24,291) 2,254 Income tax expense (benefit) (4,910) 121 Net income (loss) $(19,381) $2,133 Net Income (Loss) Per Common Share Basic $(1.35) $0.15 Diluted (1.35) 0.15 Weighted Average Number of Shares of Common Stock Outstanding Basic 14,395 14,249 Diluted 14,395 14,312 Dividends Declared Per Common Share $— $0.09 FEDNAT HOLDING COMPANY AND SUBSIDIARIESSelected Operating Metrics(Unaudited) Three Months Ended March 31, 2021 2020 (In thousands)Gross premiums written: Homeowners Florida $111,969 $111,547 Homeowners non-Florida 57,909 57,942 Federal flood 4,389 3,660 Non-core (60) (187) Total gross premiums written $174,207 $172,962 Three Months Ended March 31, 2021 2020 (In thousands)Gross premiums earned: Homeowners Florida $109,426 $116,100 Homeowners non-Florida 64,923 55,525 Federal flood 4,713 4,136 Non-core (60) (187) Total gross premiums earned $179,002 $175,574  Three Months Ended March 31, 2021 2020  (In thousands)Net premiums earned: Homeowners Florida $23,091 $68,054 Homeowners non-Florida 16,714 38,043 Non-core (60) (187) Total net premiums earned $39,745 $105,910 FEDNAT HOLDING COMPANY AND SUBSIDIARIESSelected Operating Metrics (continued)(Unaudited) Three Months Ended March 31, 2021 2020  (In thousands)Commissions and other underwriting expenses: Homeowners Florida $12,399 $13,827 All others 11,691 11,618 Ceding commissions (19,460) (2,899) Total commissions 4,630 22,546 Fees 1,335 1,114 Salaries and wages 3,572 3,598 Other underwriting expenses 11,494 9,097 Total commissions and other underwriting expenses $21,031 $36,355 Three Months Ended March 31, 2021 2020 Net loss ratio 120.8% 65.1%Net expense ratio 68.2% 40.2%Combined ratio 189.0% 105.3%Gross loss ratio 96.3% 113.1%Gross expense ratio 26.0% 25.9% FEDNAT HOLDING COMPANY AND SUBSIDIARIESConsolidated Balance Sheet(Unaudited) March 31, December 31, 2021 2020 ASSETS (In thousands)Investments: Debt securities, available-for-sale, at fair value $411,718 $488,210 Equity securities, at fair value 3,106 3,157 Total investments 414,824 491,367 Cash and cash equivalents 69,694 102,367 Prepaid reinsurance premiums 217,068 278,272 Premiums receivable, net of allowance 40,762 50,803 Reinsurance recoverable, net 439,544 413,026 Deferred acquisition costs, net 23,976 25,405 Current and deferred income taxes, net 38,666 35,035 Other assets 41,191 32,262 Total assets $1,285,725 $1,428,537  LIABILITIES AND SHAREHOLDERS’ EQUITY Liabilities Loss and loss adjustment expense reserves $486,713 $540,367 Unearned premiums 361,995 366,789 Reinsurance payable and funds withheld liabilities 136,795 202,827 Long-term debt, net of deferred financing costs 98,724 98,683 Deferred revenue 6,909 7,187 Other liabilities 47,480 54,524 Total liabilities 1,138,616 1,270,377 Shareholders' Equity Preferred stock, $0.01 par value: 1,000,000 shares authorized — — Common stock, $0.01 par value: 25,000,000 shares authorized; 17,313,461 and 13,717,908 shares issued and outstanding, respectively 173 137 Additional paid-in capital 184,792 169,298 Accumulated other comprehensive income (loss) 4,186 11,386 Retained earnings (deficit) (42,042) (22,661) Total shareholders’ equity 147,109 158,160 Total liabilities and shareholders' equity $1,285,725 $1,428,537 FEDNAT HOLDING COMPANY AND SUBSIDIARIESGAAP to Non-GAAP Reconciliations(Dollars in thousands)(Unaudited) As of or For the Three Months Ended March 31, 2021 2020Revenue Total revenues $52,748 $115,699 Less: Net realized and unrealized investment gains (losses) 92 (2,825) Adjusted operating revenues $52,656 $118,524 Net Income (Loss) Net income (loss) $(19,381) $2,133 Less: Net realized and unrealized investment gains (losses) 73 (2,132) Acquisition and strategic costs (9) (27) Amortization of identifiable intangibles (30) (28) Adjusted operating income (loss) $(19,415) $4,320 Income tax rate assumed for reconciling items above 21.00 % 24.52 % Per Common Share Book value $8.50 $17.15 Less: AOCI 0.24 0.45 Book value, excluding AOCI $8.26 $16.70

FedNat Holding Company Announces Closing of Offering of Convertible Senior Unsecured Notes Due 2026
20 Apr, 2021 Yahoo! Finance

SUNRISE, Fla., April 20, 2021 (GLOBE NEWSWIRE) -- FedNat Holding Company (NASDAQ: FNHC) (the “Company”), a regional insurance holding company, announced that it has closed a private offering of $21 million aggregate principal amount of its 5.00% convertible senior unsecured notes due 2026 (the “Notes”) in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Notes will be senior unsecured obligations of the Company, pay interest semiannually in cash on April 15 and October 15 of each year at a rate of 5.00% per annum and will mature on April 19, 2026 (the “Maturity Date”), unless earlier converted or repurchased in accordance with their terms. The Notes will be convertible in part or in whole at the option of the holders at any time until the close of business on the second trading day prior to the Maturity Date into shares of the Company’s common stock at an initial conversion rate of 166.6667 shares of the Company’s common stock per $1,000 principal amount of the Notes (equivalent to an initial conversion price of $6.00 per share), subject to customary adjustments in certain circumstances. The Company will not have the right to redeem the Notes prior to the Maturity Date. Holders of Notes may require the Company to purchase their Notes upon a Change of Control (as defined in the indenture governing the Notes) at a purchase price equal to 101% of the principal amount thereof, plus accrued and unpaid interest to, but excluding, the date of purchase. The Company will use the net proceeds for general corporate purposes, including to provide additional liquidity in its holding company to be available for future capital contributions to its insurance company subsidiaries, if necessary. The Company also successfully received and accepted consents from holders representing a majority in principal amount of its senior unsecured notes due 2029 (“2029 Notes”). The Company solicited consents from holders of the 2029 Notes permitting the Company to amend certain covenants in the indenture governing the 2029 Notes related to the maximum debt-to-capital ratio and Restricted Payments (as defined in the indenture governing the 2029 Notes). In connection with the consents, the interest rate payable on the 2029 Notes will be increased by 0.25% to 7.75% per annum, payable to all holders of the 2029 Notes effective March 15, 2021. Piper Sandler & Co. served as sole placement agent for the offering, and as sole solicitation agent for the consent solicitation. The offering of the Notes has not been registered under the Securities Act. The Company has offered and sold the Notes only to qualified institutional buyers (as defined in Rule 144A under the Securities Act) and institutional accredited investors (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act) in reliance upon the exemption under Section 4(a)(2) of the Securities Act and the provisions of Rule 506(b) of Regulation D promulgated thereunder. About the Company FedNat Holding Company is a regional insurance holding company that controls substantially all aspects of the insurance underwriting, distribution and claims processes through its subsidiaries and contractual relationships with independent agents and general agents. The Company, through its wholly owned subsidiaries FedNat Insurance Company, Maison Insurance Company, and Monarch National Insurance Company, is focused on providing homeowners insurance in Florida, Texas, Louisiana, Alabama, South Carolina and Mississippi. More information is available at https://www.fednat.com/investor-relations/. Forward-Looking Statements Except for historical information contained herein, this press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. These statements are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including those factors described in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 filed with the Securities and Exchange Commission. CONTACT: Contacts Michael H. Braun, CEO (954) 308-1322 Ronald Jordan, CFO (954) 308-1363 Bernard Kilkelly, Investor Relations (954) 308-1409 or investorrelations@fednat.com

FedNat Sets First Quarter 2021 Earnings Call for Wednesday, May 5, 2021
19 Apr, 2021 Yahoo! Finance

SUNRISE, Fla., April 19, 2021 (GLOBE NEWSWIRE) -- FedNat Holding Company (Nasdaq: FNHC), a regional insurance holding company, will announce its 2021 first quarter financial results after 4:00 PM (ET) on Tuesday, May 4, 2021. The investor conference call will be held on Wednesday, May 5, 2021, at 9:00 AM (ET). A live webcast of the call will be available in the investor relations section of the FedNat website, or by following this link. Listeners interested in participating in the Q&A session can access the conference call by dialing toll free 1-877-303-6913 and using passcode 6396507. A webcast replay of the conference call will be available shortly after the live webcast is completed and may be accessed via the Company’s website. About the Company FedNat Holding Company is a regional insurance holding company that controls substantially all aspects of the insurance underwriting, distribution and claims processes through our subsidiaries and contractual relationships with independent agents and general agents. The Company, through its wholly owned subsidiaries FedNat Insurance Company, Maison Insurance Company and Monarch National Insurance Company, is focused on providing homeowners insurance in Florida, Texas, Louisiana, Alabama, South Carolina and Mississippi. More information is available at https://www.fednat.com/investor-relations/. CONTACT: Contacts Michael H. Braun, CEO (954) 308-1322 Ronald Jordan, CFO (954) 308-1363 Bernard Kilkelly, Investor Relations (954) 308-1409, or investorrelations@fednat.com

FedNat Announces Annual Shareholder Meeting on May 27, 2021
24 Mar, 2021 Yahoo! Finance

SUNRISE, Fla., March 24, 2021 (GLOBE NEWSWIRE) -- FedNat Holding Company (Nasdaq: FNHC), a regional insurance holding company, announced today that its Board of Directors has set the date of the Company’s 2021 annual meeting of shareholders for May 27, 2021. The meeting, which will be held in a web-based virtual format, will be held at 11 AM (ET). Shareholders of record as of the close of business on April 1, 2021 will be entitled to vote at the annual meeting. About the Company FedNat is a regional insurance holding company that controls substantially all aspects of the insurance underwriting, distribution and claims processes through our subsidiaries and contractual relationships with independent agents and general agents. The Company, through our wholly owned subsidiaries including FedNat Insurance Company, Maison Insurance Company, and Monarch National Insurance Company, is focused on providing homeowners insurance in Florida, Texas, Louisiana, Alabama, South Carolina and Mississippi. More information is available at https://www.fednat.com/investor-relations/. CONTACT: Contacts Michael H. Braun, CEO (954) 308-1322 Ronald Jordan, CFO (954) 308-1363 Bernard Kilkelly, Investor Relations (954) 308-1409, or investorrelations@fednat.com

FedNat Holding Company Announces Closing of Offering of Common Stock
15 Mar, 2021 Yahoo! Finance

SUNRISE, Fla., March 15, 2021 (GLOBE NEWSWIRE) -- FedNat Holding Company (Nasdaq: FNHC), a regional insurance holding company, announced the closing of an underwritten public offering of 3,500,000 shares of its common stock at a price of $4.75 per share for gross proceeds of $16.625 million. The offering generates net proceeds to the Company of approximately $15.2 million, after deducting the underwriter’s discount and estimated offering expenses payable by the Company. In addition, the underwriter has been granted a 30-day option to purchase up to 525,000 additional shares of common stock from the Company at the public offering price, less the underwriter’s discount. The Company will use the net proceeds from the sale of the common stock for general corporate purposes, including to provide additional liquidity in its holding company to be available for future capital contributions to its insurance company subsidiaries, if necessary. Piper Sandler & Co. served as sole bookrunner for the offering. A final prospectus supplement and accompanying prospectus describing the terms of the offering has been filed with the SEC and is available on the SEC's website at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the securities offered may also be obtained by contacting the underwriter by calling toll free at 866-805-4128. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer of these securities is solely by means of the prospectus included in the registration statement and the prospectus supplement issued in connection with the offering. About the Company FedNat Holding Company is a regional insurance holding company that controls substantially all aspects of the insurance underwriting, distribution and claims processes through our subsidiaries and contractual relationships with independent agents and general agents. The Company, through its wholly owned subsidiaries FedNat Insurance Company, Maison Insurance Company, and Monarch National Insurance Company, is focused on providing homeowners insurance in Florida, Texas, Louisiana, Alabama, South Carolina and Mississippi. More information is available at https://www.fednat.com/investor-relations/. Forward-Looking Statements Except for historical information contained herein, this press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about the Company’s expectations regarding the completion, terms, size, and timing of the public offering, and with respect to granting the underwriters a 30-day option to purchase additional shares. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. These statements are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including risks and uncertainties related to completion of the public offering on the anticipated terms or at all, market conditions and the satisfaction of customary closing conditions related to the public offering, and those factors described in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, and the Company’s Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2020, June 30, 2020, and September 30, 2020, all of which have been filed with the Securities and Exchange Commission. Contacts Michael H. Braun, CEO (954) 308-1322 Ronald Jordan, CFO (954) 308-1363 Bernard Kilkelly, Investor Relations (954) 308-1409, or investorrelations@fednat.com

FedNat Holding Company (FNHC) is a NASDAQ Common Stock listed in , ,

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