Reinsurance News
United Insurance Holdings
United (UPC Insurance) offloads Southeast personal lines renewal rights to HCI
17th December 2021
Commercial lines insurance holding company, United Insurance Holdings Corp., has reached an agreement in principle to transfer its personal lines business in the states of Georgia, North Carolina, and South Carolina to insurtech company HCI Group. The business being acquired by HCI represents approximately $90 million of annual premiums. Under the terms ... Read the full article
United (UPC Insurance) lowers cat retention, continues to reduce exposure
12th November 2021
United Insurance Holdings Corp. (UPC Insurance), the Florida headquartered but regionally expansive insurer, has reported a narrower net loss for the third quarter of 2021, while its premium base continues to decline amid a retreat from the catastrophe space. A net loss of $14.3 million marks an improvement on the net ... Read the full article
Hurricane Ida drives full retention loss for United (UPC)
10th September 2021
Florida headquartered insurer, United Insurance Holdings (UPC Insurance), has announced estimated third-quarter 2021 catastrophe losses of $27 million pre-tax ($21mn after-tax), net of expected reinsurance recoveries. Included in the firm's estimated current year cat losses incurred in the quarter are losses from tropical storm Elsa, Hurricane Ida, and some other PCS ... Read the full article
United Insurance hires Brooke Shirazi as CUO
7th September 2021
United Insurance Holdings has appointed Brooke Shirazi as Chief Underwriting Officer. Shirazi will be responsible for directing and leading all aspects of the company's underwriting operations. She brings over 16 years of insurance-related experience, most recently serving as Vice President of Underwriting at IAT Insurance Group (IAT), a property-casualty insurance and surety ... Read the full article
United (UPC Insurance) falls to Q2 net loss as reinsurance changes take hold
5th August 2021
United Insurance Holdings Corp. has reported a net loss for the second quarter of 2021 of $23.5 million, driven by a reduction in revenue during the period as the firm's ceded premiums earned spiked on the back of changes made to its reinsurance use. This quarterly loss compares with net income ... Read the full article
United (UPC Insurance) and HCI in new quota share reinsurance deal
23rd June 2021
United Insurance Holdings Corp. (UPC Insurance) and Florida-based insurtech HCI Group, Inc. have entered into a new quota share reinsurance agreement, following the completion of a renewal rights deal earlier this year. Back in January, UPC Insurance transferred all of its personal lines insurance business in the states of Connecticut, ... Read the full article
UPC restructures reinsurance program at renewal
28th May 2021
Florida head-quartred insurer United Insurance Holdings (UPC Insurance) has renewed its core catastrophe reinsurance program for 2021/22. For this year, the insurer's core catastrophe program includes $2.85 billion of first event reinsurance limit on a fully cascading basis, except for the Florida Hurricane Catastrophe Fund layer. In addition to the Core CAT ... Read the full article
United pegs Q1 cat losses at $24m; strengthens reserves for litigation in Florida
19th April 2021
Property and casualty insurance holding company, United Insurance Holdings Corp. (UPC Insurance), recently announced first-quarter 2021 current year catastrophe losses of $24 million, pre-tax and net of expected reinsurance recoveries. UPC Insurance's Q1 2021 cat loss bill comes in at approximately $19 million after-tax, and includes claims from winter storm Uri, ... Read the full article
United (UPC Insurance) and HCI complete renewal rights agreement
25th January 2021
United Insurance Holdings Corp. (UPC Insurance) has completed its previously announced renewal rights agreement with Florida-based insurtech, HCI Group, Inc., effective January 18th, 2021. Under the terms of the agreement, UPC Insurance will transfer all of its personal lines insurance business in the states of Connecticut, New Jersey, Massachusetts, and Rhode ... Read the full article
HCI acquires personal lines business from United (UPC)
17th December 2020
Florida-based insurtech HCI Group has agreed to acquire personal lines insurance business in four northeastern US states from P&C insurer United Insurance Holdings Corp. (UPC). Under the agreement, HCI will provide 69.5% quota share reinsurance on all of United’s in-force, new and renewal policies in Connecticut, Massachusetts, New Jersey, and Rhode ... Read the full article
UIHC Q4 cat losses stand at up to $100mn
16th December 2020
Property and casualty insurance holding company UIHC has announced estimated current year catastrophe losses, incurred between October 1 to November 30, of between $85 million and $100 million. This figure is before income taxes and totals approximately $67 million to $79 million after tax, net of expected reinsurance recoveries. The company’s fourth ... Read the full article
United (UPC Insurance) secures additional reinsurance protection
24th November 2020
Property and casualty insurance holding company, United Insurance Holdings Corp. (UPC Insurance), has expanded its current quota share reinsurance programme for United Property & Casualty Insurance Company (UPC) and Family Security Insurance Company (FSIC), effective December 31st, 2020. For both UPC and FSIC, the insurer has expanded its current quota share ... Read the full article
Unprecedented storms drive record quarterly loss at United (UPC)
6th November 2020
United Insurance Holdings Corp. (UPC) has announced a net loss of $74.1 million for the third-quarter of 2020, as its loss ratio increased significantly to 115.8% on the back of quarterly catastrophe losses of $140 million. The record quarterly loss of $74.1 million compares with a loss of $28.3 million for ... Read the full article
United Insurance estimates Q3 cat losses at $135mn
23rd September 2020
Property and casualty insurance holding company United Insurance Holdings Corp. (UPC Insurance) has announced its estimated catastrophe losses for the third quarter of 2020. Currently, UPC Insurance estimates that it incurred catastrophe losses of approximately $135 million in Q3 before income taxes, or about $107 million after tax. This figure is net ... Read the full article
United (UPC Insurance) returns to profit in Q2; COVID-19 impact immaterial
6th August 2020
Property and casualty (P&C) insurance holding company, United Insurance Holdings Corp. (UPC Insurance), has returned to profitability in the second-quarter of 2020, posting net income of $24.3 million and a combined ratio of 99.4%. These figures compare with a net loss of $2.9 million in the second-quarter of 2019 and a ... Read the full article
- ← Previous
- 1
- 2
- 3
- 4
- Next →
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
