Brief: United Insurance Says Expect To Incur About $197 Million Of Net Loss & Loss Adjustment Expense Related To Current Accident Year Catastrophe Events For Q4

American Coastal Insurance

10/02/2023 22:42

Feb 10 (Reuters) - United Insurance Holdings Corp
 UIHC.O :
    * UNITED INSURANCE -EXPECT TO INCUR ABOUT $197 MILLION OF
NET LOSS
& LOSS ADJUSTMENT EXPENSE RELATED TO CURRENT ACCIDENT YEAR
CATASTROPHE EVENTS FOR Q4
    * UNITED INSURANCE -GROSS LOSSES FROM HURRICANE IAN
INCREASED FROM
OUR PRELIM ESTIMATE OF $1 BILLION ON SEPT 30, 2022, TO ABOUT
$1.54 BILLION AS OF DEC 31, 2022
    * UNITED INSURANCE-AS RESULT OF INCREASED NET LOSSES
INCURRED BY
UNITED PROPERTY & CASUALTY INSURANCE CO, EXPECTED TO BE
INSOLVENT AS OF DEC 31, 2022

Further company coverage:  UIHC.O 
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