UIHC insurance will release financial result Q4
Wednesday, May 10, 2017
Add Comment
UIHC insurance will release financial result Q4 - United Insurance Holdings Corp. (Nasdaq: UIHC) (the Company), a assets and casualty insurance keeping enterprise, announced these days that it expects to launch its economic outcomes for the fourth region and year ended December 31, 2012, after the market closes on Wednesday, February 27, 2013.
The Company will conduct its quarterly convention name to speak about those outcomes and evaluation the outlook for the Company on Thursday, February 28, 2013, at 10:00 a.M. ET. The Company invites involved events to take part within the conference name.
Webcast
To listen to the live webcast, please go to www.Upcic.Com (Events and Presentations) and click on at the conference call link, or visit: http://upcic.Equisolvewebcast.Com. This webcast might be archived and on hand thru the Companys internet site for approximately 30 days following the call.
About UIHC and UPC Insurance
Founded in 1999, UIHC is an coverage keeping agency that assets, writes and offerings residential assets and casualty insurance rules the use of a network of independent marketers and a collection of fully owned coverage subsidiaries. UPC Insurance, the primary operating subsidiary of UIHC, writes and offerings property and casualty insurance in Florida, South Carolina, Massachusetts and Rhode Island and was lately licensed to jot down in North Carolina. From its headquarters in St. Petersburg, UPC Insurances team of dedicated experts manages a totally incorporated insurance employer, such as income, underwriting, customer service and claims.
Quarter in Detail
Operating sales totaled $193.1 million, surpassing the Zacks Consensus Estimate via 3.Eight%. The top line additionally advanced 6.1% 12 months over 12 months.
Gross charges written multiplied 15.7% 12 months over 12 months to $292.6 million within the area under review. Net premiums earned rose nine.4% 12 months over 12 months to $181.7 million.
Investment income surged 41.6% to $7.Five million.
Loss and loss adjustment (LAE) cost escalated 69.Four% to $122.2 million at the same time as LAE cost as a percent of internet earned premiums deteriorated 2380 basis points to 67.2% inside the fourth area.
Operating and underwriting charges jumped 34.2% to $11.6 million, on account of better agent incentive expenses from the enterprise’s new contingent commission software. Underlying mixed ratio of 81.2% advanced 630 basis points within the period beneath discussion.
Financial Update
Cash and cash equivalents of $112.7 million as of Dec 31, 2018 had been down 50.9% from the extent at 12 months-cease 2017. Total shareholders’ equity of $540.4 million as of Dec 31, 2018 inched up zero.6% from the extent as of Dec 31, 2017.
Book price according to proportion changed into $12.10 as of Dec 31, 2018, down three.7% from the determine at yr-give up 2017.
Core return on fairness for the yr ended Dec 31, 2018, came in at three.1%, which reduced in size 460 foundation factors from the 2017-end stage.
Dividend Update
During the fourth region, the board of directors accredited a quarterly cash dividend of 6 cents in step with proportion to shareholders of record on Nov 20, 2018. The quantity became paid on Nov 27, 2018.
Zacks Rank
United Insurance incorporates a Zacks Rank #3 (Hold). You can see the whole list of these days’s Zacks #1 Rank (Strong Buy) stocks right here.
Performance of Other P&C Insurers
Among different players from the same space having mentioned fourth-region earnings to this point, the lowest-line numbers of MGIC Investment Corp. MTG and RLI Corp. RLI beat the respective Zacks Consensus Estimate even as that of The Progressive Corp. PGR lagged the same.
Zacks' Top 10 Stocks for 2019
Our annual Top 10s have crushed the marketplace with exceptional regularity. In 2018, while the marketplace dropped -five.2%, the portfolio scored nicely into double-digits usual with individual stocks rising as high as +sixty one.Five%. And from 2012-2017, while the market boomed +126.3, Zacks' Top 10s reached a fair greater sensational +181.Nine%.
(image source : www.shutterstock.com) © Shutterstock
Webcast
To listen to the live webcast, please go to www.Upcic.Com (Events and Presentations) and click on at the conference call link, or visit: http://upcic.Equisolvewebcast.Com. This webcast might be archived and on hand thru the Companys internet site for approximately 30 days following the call.
About UIHC and UPC Insurance
Founded in 1999, UIHC is an coverage keeping agency that assets, writes and offerings residential assets and casualty insurance rules the use of a network of independent marketers and a collection of fully owned coverage subsidiaries. UPC Insurance, the primary operating subsidiary of UIHC, writes and offerings property and casualty insurance in Florida, South Carolina, Massachusetts and Rhode Island and was lately licensed to jot down in North Carolina. From its headquarters in St. Petersburg, UPC Insurances team of dedicated experts manages a totally incorporated insurance employer, such as income, underwriting, customer service and claims.
Quarter in Detail
Operating sales totaled $193.1 million, surpassing the Zacks Consensus Estimate via 3.Eight%. The top line additionally advanced 6.1% 12 months over 12 months.
Gross charges written multiplied 15.7% 12 months over 12 months to $292.6 million within the area under review. Net premiums earned rose nine.4% 12 months over 12 months to $181.7 million.
Investment income surged 41.6% to $7.Five million.
Loss and loss adjustment (LAE) cost escalated 69.Four% to $122.2 million at the same time as LAE cost as a percent of internet earned premiums deteriorated 2380 basis points to 67.2% inside the fourth area.
Operating and underwriting charges jumped 34.2% to $11.6 million, on account of better agent incentive expenses from the enterprise’s new contingent commission software. Underlying mixed ratio of 81.2% advanced 630 basis points within the period beneath discussion.
Financial Update
Cash and cash equivalents of $112.7 million as of Dec 31, 2018 had been down 50.9% from the extent at 12 months-cease 2017. Total shareholders’ equity of $540.4 million as of Dec 31, 2018 inched up zero.6% from the extent as of Dec 31, 2017.
Book price according to proportion changed into $12.10 as of Dec 31, 2018, down three.7% from the determine at yr-give up 2017.
Core return on fairness for the yr ended Dec 31, 2018, came in at three.1%, which reduced in size 460 foundation factors from the 2017-end stage.
Dividend Update
During the fourth region, the board of directors accredited a quarterly cash dividend of 6 cents in step with proportion to shareholders of record on Nov 20, 2018. The quantity became paid on Nov 27, 2018.
Zacks Rank
United Insurance incorporates a Zacks Rank #3 (Hold). You can see the whole list of these days’s Zacks #1 Rank (Strong Buy) stocks right here.
Performance of Other P&C Insurers
Among different players from the same space having mentioned fourth-region earnings to this point, the lowest-line numbers of MGIC Investment Corp. MTG and RLI Corp. RLI beat the respective Zacks Consensus Estimate even as that of The Progressive Corp. PGR lagged the same.
Zacks' Top 10 Stocks for 2019
Our annual Top 10s have crushed the marketplace with exceptional regularity. In 2018, while the marketplace dropped -five.2%, the portfolio scored nicely into double-digits usual with individual stocks rising as high as +sixty one.Five%. And from 2012-2017, while the market boomed +126.3, Zacks' Top 10s reached a fair greater sensational +181.Nine%.
0 Response to "UIHC insurance will release financial result Q4"
Post a Comment