ST. PETERSBURG, Fla.–(BUSINESS WIRE)–United Insurance Holdings Corp. (Nasdaq: UIHC) (UPC Insurance or the Company), a property and casualty insurance holding company, announced today that it expects to incur approximately $16 million of net retained catastrophe losses primarily from new wind and hail events in Texas and Louisiana for the quarter ended June 30, 2019. During the second quarter of 2019, the Company also experienced approximately $15 million of adverse reserve development stemming from accident year 2018 from both catastrophe and non-catastrophe losses primarily in Florida.
UPC Insurance expects to release its financial results for the second quarter ended June 30, 2019, on Wednesday, July 31, 2019 after the close of the market and will conduct its quarterly conference call to discuss those results and review the outlook for the Company at 5:00 p.m. ET on Wednesday, July 31, 2019. The Company invites interested parties to participate in the conference call.
Conference Call Details
Wednesday, July 31, 2019 – 5:00 p.m. ET
Participant Dial-In Numbers:
(United States): 877-407-8829
To listen to the live webcast, please go to http://investors.upcinsurance.com and click on the conference call link at the top of the page or go to: https://78449.themediaframe.com/dataconf/productusers/unin/mediaframe/31571/indexl.html.
This webcast will be archived and accessible through the Company’s website for approximately 30 days following the call.
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 through a variety of distribution channels. The Company currently writes policies in Connecticut, Florida, Georgia, Hawaii, Louisiana, Massachusetts, New Jersey, New York, North Carolina, Rhode Island, South Carolina and Texas, and is licensed to write in Alabama, Delaware, Maryland, Mississippi, New Hampshire, and Virginia. 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. UPC Insurance is a company committed to financial stability and solvency.
United Insurance Holdings Corp.
Director of Financial Reporting
(727) 895-7737 / firstname.lastname@example.org
The Equity Group
(212) 836-9606 / email@example.com