Welcome to our dedicated page for United Insurance Holdings news (Ticker: UIHC), a resource for investors and traders seeking the latest updates and insights on United Insurance Holdings stock.
United Insurance Holdings Corp. (NASDAQ: UIHC), a specialist in catastrophe-exposed property insurance, maintains this comprehensive news hub for stakeholders. Access official press releases, financial disclosures, and operational updates from the Florida-based insurer serving high-risk coastal markets.
This resource aggregates UIHC's regulatory filings, partnership announcements, and technology initiatives while maintaining strict compliance with financial disclosure standards. Users will find updates on reinsurance strategies, claims management innovations, and market expansion efforts across the Gulf Coast and Eastern Seaboard.
Key content includes quarterly earnings reports, leadership updates, and catastrophe response plans critical for assessing this niche insurer's performance. The curated collection serves investors analyzing coastal exposure risks and homeowners seeking insights into carrier stability.
Bookmark this page for direct access to UIHC's verified communications, including Demotech rating updates and regulatory submissions. Combine with SEC filings and industry analysis for complete due diligence on this specialty property insurer.
United Insurance Holdings Corp. (Nasdaq: UIHC) will release its third-quarter financial results for the period ending
United Insurance Holdings Corp. (Nasdaq: UIHC) estimates approximately
United Insurance Holdings Corp. (Nasdaq: UIHC) announced plans of withdrawal for its personal lines subsidiary, United Property & Casualty Insurance Company, in Florida, Louisiana, Texas, and New York, involving non-renewal of personal lines policies. Regulatory approval has been secured in Louisiana, but is still pending in Florida and Texas. This move aims to ensure an orderly run-off due to uncertainties around reinsurance availability. CEO Dan Peed emphasized the strength of their commercial business as a stable platform for future growth.
United Insurance Holdings Corp. (Nasdaq: UIHC) reported a significant second-quarter net loss of $69 million, or $1.60 per share, compared to $23.5 million, or $0.55 per share in Q2 2021. The company experienced a 15.5% drop in gross premiums written, totaling $360.1 million, reflecting a strategic shift towards commercial lines, where direct written premiums surpassed personal lines for the first time. The commercial lines combined ratio improved to 61.5%, contributing to an $18.8 million pre-tax profit. Notably, the loss included a $43.7 million valuation allowance against deferred tax assets.
United Insurance Holdings Corp. (Nasdaq: UIHC) has completed a reorganization, merging its four Florida-based insurance subsidiaries into two efficient entities. Effective May 31 and June 1, 2022, Family Security Insurance merged into United Property & Casualty, and Journey Insurance merged into American Coastal Insurance. The company estimates second-quarter catastrophe losses of $21 million and adverse development of $8 million. Additionally, a valuation allowance on deferred tax assets of approximately $59 million is anticipated, reducing net earnings by $44 million.
United Insurance Holdings Corp. (Nasdaq: UIHC) has initiated a review of its strategic and capital raising alternatives, including potential sale, merger, subsidiary divestiture, and financing options. The Board of Directors will explore a wide range of options with no guarantee of a specific outcome. The Company has engaged Insurance Advisory Partners, LLC as a financial advisor and Debevoise & Plimpton LLP as legal counsel. Founded in 1999, UPC Insurance operates in multiple states, including Florida, Louisiana, New York, and Texas, focusing on personal and commercial property and casualty insurance.
United Insurance Holdings Corp. (UIHC) reported significant declines in financial performance for Q1 2022 compared to Q1 2021. Gross premiums written decreased by 10.3% to $279.5 million, while net premiums earned fell by 30.9% to $100.9 million. Total revenues plunged 36.7% to $102.4 million, resulting in a net loss of $33.2 million, or $0.77 per diluted share, an 86.7% increase in loss year-over-year. The combined ratio rose to 144.4%, indicating deterioration in underwriting performance. Book value per share decreased by 28.4% from $8.32 to $5.96, reflecting challenging market conditions.
United Insurance Holdings Corp. (Nasdaq: UIHC) will release its financial results for the first quarter ended March 31, 2022, on May 9, 2022, after market close. The Company will host a conference call at 5:00 p.m. ET on the same day to discuss these results and provide an outlook. Interested parties can participate via phone or by accessing a live webcast on the Company's investor website. UPC Insurance operates primarily in Florida, Louisiana, New York, Texas, Georgia, South Carolina, and North Carolina, delivering personal and commercial insurance through its subsidiaries.
AM Best has downgraded Journey Insurance Company's Financial Strength Rating to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating to 'bbb+' (Good) from 'a-' (Excellent). The FSR outlook is now stable, while the Long-Term ICR outlook is negative. Factors contributing to this downgrade include volatile operating performance due to losses from Winter Storm Uri and slow premium growth. Journey's business model development has not met projections, leading to the cessation of new business writing. UIHC, Journey's majority owner, faces equity erosion due to catastrophe losses.
United Insurance Holdings Corp. (UIHC) has announced a proposed reorganization plan to consolidate its four Florida-domiciled insurance companies into three, seeking regulatory approval to merge Journey Insurance Company into American Coastal Insurance Company. This merger aims to enhance operational efficiency and better allocate capital, focusing American Coastal on profitable commercial growth while Family Security and United Property & Casualty restore profitability in personal lines. The company highlights this strategy as vital for balancing commercial and personal insurance lines.
