American Coastal Insurance Corporation · NASDAQ:ACIC
American Coastal Insurance — United Insurance Holdings — Q1 2021 Earnings Presentation
9 slides from American Coastal Insurance's earnings presentation, May 5, 2021
Slide 1: United Insurance Holdings Corporation Investor Presentation
United Insurance Holdings Corporation (NASDAQ: UIHC) Investor Presentation May 5, 2021
Slide 2: Company Overview
Company Overview 2 UPC Insurance is a specialty underwriter of catastrophe exposed property insurance in the U.S. United Insurance Holding Corp. (NASDAQ: UIHC) was founded in 1999 and is the insurance holding company for 5 P&C carriers and operating affiliates operating under the brand UPC Insurance
Slide 3: Q1-2021 Executive Summary
Q1-2021 Executive Summary 3 Results Impacted By FL Litigation FL Legislative Changes Should Help • Core loss of -$19.4m or -$0.45/share, down -$28.5m y/y • Prior year reserve development & CAT items totaled $54.7m, up $37.7m y/y • Underlying combined ratio of 90.4% improved 0.3 points y/y • Florida
Slide 4: Q1-2021 Results
Q1-2021 Results 4 Abnormal Florida Homeowners Loss Development Drove Our Core Loss Gross underlying loss, expense, and underlying combined ratios continued to trend favorably Q1-21 Q1-20 Change Core income (loss) $ (19,370) $ 9,129 -312.2% per diluted share (CEPS) $ (0.45) $ 0.21 Included the follow
Slide 5: Q1-2021 Results by Line of Business
Q1-2021 Results by Line of Business 5 Our Specialty Commercial Continues to Perform Very Well $ in millions PL CL Total Gross Premiums Earned $ 258.4 $ 98.2 $ 356.7 Ceded Premiums Earned (153.9) (56.8) (210.7) Net Premiums Earned 104.5 41.4 145.9 Investment & Other Income 12.0 1.2 13.3 Unrealized G(
Slide 6: Florida Litigation Market Dynamics
Florida Litigation Market Dynamics 6 Insurers paid $15.3B in connection to lawsuits from 2013 to 2020 • 71% of payments have funded plaintiff attorney fees • One-way attorney fee statute has been the driver of frivolous suits • Attempts at legislative reform continue to fall short Litigation Trends
Slide 7: Florida Legislative Update
Florida Legislative Update 7 SB 76 & 1598 Expected to Become Law July 1st & Provides Much Needed Relief Highlights Include: • Reducing the time limit for filing insurance claims to two years from the date of loss • Requiring plaintiffs to go thru several additional steps prior to filing a lawsuit on
Slide 8: Cautionary Statements
Cautionary Statements 8 This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward looking statements include expectations regarding our diversification, growth opportunities, retention rates, liquidity, investmen
Slide 9: UPC Insurance
UPCZ® INSURANCE
United Insurance Holdings — Q1 2021 Earnings Presentation on 6ix