Market Overview

United Insurance Holdings Corp. Announces Renewal of Catastrophe Reinsurance Programs


United Insurance Holdings Corp. (NASDAQ:UIHC) (UPC Insurance or
the Company), a property and casualty insurance holding company, today
announced that effective June 1, 2019, United Insurance Holdings
Corporation ("UPC Insurance"), through its insurance subsidiaries
American Coastal Insurance Company, Family Security Insurance Company,
Interboro Insurance Company, Journey Insurance Company, United Property
and Casualty Insurance Company, and BlueLine, renewed its catastrophe
reinsurance programs.

Management Commentary

"I'm very proud of the tremendous support we received from our
reinsurance partners and the hard work of our entire leadership team to
make this year's placement successful," said Brad Martz, Chief Financial
Officer of UPC Insurance. "The Company's reinsurance programs have
continued to evolve in support of our growth and provide robust
protection against the frequency and severity of catastrophe events for
our shareholders."

Highlights of the Company's agreements are as

  • Increased total catastrophe reinsurance limit to $4B;
  • Increased core multi-event cascading catastrophe reinsurance limit to
  • Lower per occurrence and aggregate retention levels;
  • Catastrophe excess of loss reinsurance spend increased at a far slower
    rate than the growth in premiums in force;
  • Increased multi-year catastrophe excess of loss reinsurance limit by
    $87.5M; and
  • Over 90% of the limit is provided by reinsurers with an A+ A.M. Best
    financial strength rating or is fully collateralized.
  • Effective June 1, 2019, UPC Insurance Company renewed its quota share
    agreement with private reinsurers.

The full details of the program are also noted in a filing with the
Securities and Exchange Commission on Form 8-K, which interested parties
can view at

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 and one majority owned insurance subsidiary
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.

Forward-Looking Statements

Statements made in this press release, or on the conference call
identified above, and otherwise, that are not historical facts are
"forward-looking statements" that anticipate results based on our
estimates, assumptions and plans and are subject to uncertainty.
statements are made subject to the safe-harbor provisions of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements do not relate strictly to historical or current facts and may
be identified by their use of words such as "may," "will," "expect,"
"endeavor," "project," "believe," "anticipate," "intend," "could,"
"would," "estimate" or "continue" or the negative variations thereof or
comparable terminology.
We believe these statements are based on
reasonable estimates, assumptions and plans. However, if the estimates,
assumptions or plans underlying the forward-looking statements prove
inaccurate or if other risks or uncertainties arise, actual results
could differ materially from those communicated in these forward-looking
statements. Factors that could cause actual results to differ materially
from those expressed in, or implied by, the forward-looking statements
may be found in our filings with the U.S. Securities and Exchange
Commission, including the "Risk Factors" section in our most recent
Annual Report on Form 10-K and subsequent Quarterly Reports on Form
10-Q. Forward-looking statements speak only as of the date on which they
are made, and, except as required by applicable law, we undertake no
obligation to update or revise any forward-looking statement.

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