UPC Insurance cuts net Q3 cat loss after reinsurance changes

12 November 2021

United Insurance holdings (UPC Insurance) reported net catastrophe losses of $37.0mn in Q3 2021, down from $140.0mn for the prior-year quarter, after action to significantly reduce gross and net catastrophe exposure during the past year led to a “materially reduced” hurricane loss.

The company did not disclose gross or ceded Ida losses, but said reinsurers had benefitted from windstorm reserve releases on prior year events.

Enter your e-mail to claim a free trial: