United Insurance Holdings Corp (UPC Insurance) has reported a net loss of $70.9 million for the third quarter of 2022, compared to a net loss of $14.3 million in 2021.
UPC Insurance specified that the loss was driven by decreased gross written premiums, an unfavorable prior year loss development during the quarter, as well as the impacts of Hurricane Ian.
This now brings the company’s net loss year-to-date total to $173 million.
