ST. PETERSBURG, Fla.--(BUSINESS WIRE)--United Insurance Holdings Corp. (Nasdaq: UIHC) (UPC Insurance or the Company), a property and casualty insurance holding company, today announced estimated catastrophe losses incurred during the third quarter ending September 30, 2018 of approximately $35 million before income taxes (approximately $27 million after tax) net of expected reinsurance recoveries. The Company’s third quarter catastrophe losses included claims from Hurricane Florence, which made landfall as a category 1 storm in North Carolina, along with new third quarter 2018 and development on prior 2018 catastrophe events.
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.