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United (UPC Insurance) lowers cat retention, continues to reduce exposure

November 12, 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 loss of $74 million in the prior year quarter, driven mostly by a 53% decrease in loss and loss adjustment expenses (LAE) for the period to $102.8 million.

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