United Insurance Holdings Corp. Previews Q3-2021 Estimated Catastrophe Losses
United Insurance Holdings Corp. (UIHC)
Last united insurance holdings corp. earnings: 2/20 04:02 pm
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US:NASDAQ Investor Relations:
investors.upcinsurance.com/mobile/home.aspx?iid=4169946
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Source: Business Wire
ST. PETERSBURG, Fla.--(BUSINESS WIRE)--United Insurance Holdings Corp. (NASDAQ: UIHC) (UPC Insurance or the Company), a property and casualty insurance holding company, today announced estimated current year catastrophe losses incurred the third quarter through August 31, 2021, of approximately $27 million before income taxes (approximately $21 million after tax), net of expected reinsurance recoveries. The Company’s estimated net catastrophe losses includes claims from Tropical Storm Elsa, Hurricane Ida, which includes our core catastrophe program retention of $15 million plus Interboro Insurance Company’s catastrophe retention of $3 million, as well as other new PCS catastrophe events that occurred during this period. As a result of these events contributing to our aggregate reinsurance protection, the Company’s exposure from potential future events this year in our core catastrophe program is expected to be limited to approximately $9 million.“Our thoughts are with those who ha
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