UPC falls to Q2 loss on higher ceded premiums and other losses
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UPC falls to Q2 loss on higher ceded premiums and other losses

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Florida insurer United Insurance Holdings (UPC Insurance) fell to a $23.5mn Q2 loss on a 22% drop in net earned premium and higher “other perils” catastrophe claims, a turnaround from the $29.5mn profit reported in the year-ago period.

The carrier did not provide a Q2 loss breakdown of ceded losses, but disclosed that over the first half it has ceded $130mn or 67% of cat losses to reinsurers.

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