United Insurance Holdings Corp. Previews Q2-2021 Estimated Catastrophe Losses
United Insurance Holdings Corp. (NASDAQ: UIHC) reported an estimated catastrophe loss of approximately $40 million before income taxes for Q2 2021, equating to about $31 million after taxes. This loss includes claims from two tropical storms and fourteen PCS catastrophe events. The figures are net of expected reinsurance recoveries. The company has been operating since 1999, providing property and casualty insurance across multiple states.
- Company's total catastrophe loss is estimated at $40 million before taxes, showing solid management of claims.
- Net loss after taxes is estimated at $31 million, indicating the impact of reinsurance recoveries.
- Catastrophe losses reflect vulnerability to weather events, which could impact future earnings.
- Two new tropical storms and fourteen PCS catastrophe events increase operational risks.
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 during the second quarter ending June 30, 2021, of approximately
About UPC Insurance
Founded in 1999, UPC Insurance is an insurance holding company that sources, writes and services personal and commercial residential property and casualty insurance policies using a group of wholly owned insurance subsidiaries and one majority owned insurance subsidiary through a variety of distribution channels. The Company currently writes policies in Connecticut, Florida, Georgia, Louisiana, Massachusetts, New Jersey, New York, North Carolina, Rhode Island, South Carolina, and Texas. From its headquarters in St. Petersburg, UPC Insurance's team of dedicated professionals manages a completely integrated insurance company, including sales, underwriting, customer service and claims.
Forward-Looking Statements
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