United Insurance Holdings Corp (UIHC) is a property and casualty insurance holding company. Its primary insurance subsidiary is United Property & Casualty Insurance Company, which sources, writes, and services residential and commercial property and casualty insurance policies using a network of agents and a group of wholly owned insurance subsidiaries. United Property & Casualty Insurance Company was formed in Florida in 1999.
Other subsidiaries include United Insurance Management, L.C., the managing general agent that manages all aspects of United Property & Casualty Insurance Company's business; Skyway Claims Services, LLC, which provides services to its insurance affiliates; and UPC Re, which provides a portion of the reinsurance protection purchased by United Insurance affiliates. Recently United Insurance acquired Family Security Holdings, LLC (FSH) and its two wholly owned subsidiaries, Family Security Insurance Company and Family Security Underwriters.
United Insurance's primary product is homeowners' insurance, which it offers in Florida, Louisiana, Massachusetts, New Jersey, North Carolina, Rhode Island, South Carolina and Texas. United Insurance is licensed to write insurance in Alabama, Connecticut, Delaware, Georgia, Hawaii, Maryland, Mississippi, New Hampshire, New York and Virginia.
Homeowners insurance is major portion of United Insurance's revenue. Last year in 2014 Homeowners insurance policies accounted 96% of its total revenue, flood insurance accounts for 3% of its revenue and remaining 1% for of the revenue generated from commercial insurance.
Growth with Value
Until year 2010, United Insurance primarily focused its business operations in the state of Florida, then started expanding into other states. Last year 69% of its total policies in force were in the state of Florida, the rest from seven other states. However as of the end of 2013 81% of the policies were concentrated in Florida.
