image credit: Adobe Stock

United reports $21m of Q2 cat losses, completes reorganization

July 27, 2022

Property and casualty insurance holding company United Insurance Holdings Corp. (UPC Insurance) has estimated that it incurred catastrophe losses of $21 million during the second quarter of 2022.

This figure is before income taxes and net of expected reinsurance recoveries, UPC explained, with the after tax figure estimated at $17 million.

The company also estimates adverse development on prior year losses incurred during Q2 of approximately $8 million before tax, or $6 million after tax, again net of reinsurance recoveries.

Read More on Reinsurance News