United Insurance Holdings Corp. formerly known as FMG Acquisition Corp. was incorporated under the laws of the State of Delaware on May 22, 2007. On September 30, 2008, it completed a merger, dated August 15, 2008, as amended on September 23, 2008, whereby United Subsidiary Corp., a wholly-owned subsidiary of FMG Acquisition Corp, merged with and into United Insurance Holdings, L.C., a Florida company, with United Insurance Holdings remaining as the surviving entity. In connection with the Merger, FMG changed its name to United Insurance Holdings Corp. The Company operates as a holding company for United Property & Casualty Insurance Company and its insurance subsidiary was initially formed as a Florida C-Corporation in 1999 to capitalize on legislation designed to attract capital to the Florida homeowner insurance market. United Property & Casualty Insurance Company is primarily engaged in the homeowner's property and casualty insurance business in the United States. Its subsidiary United Insurance Management manages a general agency that provides personnel and management services for the combined entity. Its subsidiary Skyway Claims Services provides field inspection services for a portion of the Company's non-catastrophe claims. Its subsidiary UPC Re is a reinsurance subsidiary that provides fully collateralized risk transfer for a portion of the Company's reinsurance program. The Company currently writes in Florida, Massachusetts, New Jersey, North Carolina, Rhode Island, South Carolina, and Texas, and is licensed to write in Georgia and New Hampshire. It manages its risk of catastrophic loss primarily through sophisticated pricing algorithms, avoidance of policy concentration, and the use of a comprehensive catastrophe reinsurance program.
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