United Insurance Holdings Corp. Stock Price, News & Analysis

United Insurance Holdings Corp. (NASDAQ: UIHC) reported its financial results for Q4 and full year 2021, showing a net loss of $2.3 million ($0.05 per share) for Q4, a substantial improvement over the $33.9 million loss in Q4 2020. Gross premiums written decreased by 15% to $268.9 million, primarily due to a decline in personal lines. However, the company aims for a balanced commercial and personal lines portfolio ahead of its three-year timeline. With a focus on improving underwriting profitability, UIHC anticipates a return to profitability in 2022 and targets returns on equity for 2023.

United Insurance Holdings Corp. (Nasdaq: UIHC) announced it will release its fourth quarter and year-end financial results on February 23, 2022, after market close. The Company will host a conference call at 5:00 p.m. ET on the same day to discuss results and outlook. Interested participants can join via dial-in numbers provided or through a live webcast available on the Company's website. This information is essential for investors monitoring UIHC's performance.

United Insurance Holdings Corp. (UIHC) has reached an agreement to transfer its personal lines business in Georgia, North Carolina, and South Carolina to HCI Group, Inc. (HCI). This transaction allows UIHC to focus capital on its growing commercial specialty property sector. HCI will provide 85% quota share reinsurance for UPC's policies in these states from December 31, 2021, to May 31, 2022, with estimated net ceding commissions of $8.3 million to $10.6 million. The deal also includes an upfront cash payment of $3.8 million from HCI to UIHC, with renewal rights granted until July 1, 2025.

United Insurance Holdings Corp. (Nasdaq: UIHC) reported Q3 2021 financial results, showing a net loss of $14.3 million, or $0.33 per diluted share, representing an 80.6% reduction from a $74.1 million loss in Q3 2020. Gross premiums written declined by 11.8% year-over-year to $322.5 million, driven mainly by reduced personal lines business. However, total revenues decreased by 23.5% to $162.7 million, attributed to higher ceded premium from changes in reinsurance agreements. Despite these challenges, the company reduced its loss and LAE expenses by 53% compared to Q3 2020, reflecting improved risk management.

United Insurance Holdings Corp. (UIHC) has declared a cash dividend of $0.06 per share on November 29, 2021. This payment is designated for shareholders on record as of November 22, 2021. The company, specializing in property and casualty insurance, operates across several U.S. states, including Florida, Georgia, and Texas. This announcement reflects the company's ongoing commitment to returning value to its shareholders.

United Insurance Holdings Corp. (Nasdaq: UIHC) announced that it will release its financial results for the third quarter ended September 30, 2021 on November 11, 2021, after market close. The Company will host a conference call at 5:00 p.m. ET on the same day. Interested participants can join the call by dialing 877-445-9755 for U.S. callers or 201-493-6744 for international participants. A live webcast will also be available on the Company's website.

United Insurance Holdings Corp. (NASDAQ: UIHC) reported estimated catastrophe losses of $37 million before taxes for Q3 2021, translating to $29 million after tax, net of reinsurance recoveries. The losses comprise $27 million as of August 31, 2021, plus $10 million from new claims related to Hurricane Nicholas and the re-estimation of other events from 2021.

United Insurance Holdings Corp. (NASDAQ: UIHC) reported an estimated $27 million in catastrophe losses for Q3 2021, approximately $21 million after tax. Major events included Tropical Storm Elsa and Hurricane Ida, with a core retention of $15 million. The company expects future exposure to be limited to about $9 million due to effective reinsurance protection. The organization emphasizes commitment to assisting affected policyholders, especially in Louisiana.

United Insurance Holdings Corp. (UIHC) reported its financial results for Q2 2021, showing a net loss of $23.5 million ($0.55 per share), a sharp decline from a net income of $24.3 million in Q2 2020. Gross premiums written decreased by 3.0% to $426.4 million, while net premiums earned dropped 21.6% to $145.5 million. Total revenues fell 28.2% year-over-year to $155.5 million. The combined ratio worsened to 127.9%, significantly impacted by increased loss and LAE expenses due to catastrophe losses. Book value per share decreased 36.0% from $12.27 to $7.85.