United Insurance Holdings Reports Subsidiary Assumes More Than 15K Policies from Citizens [Professional Services Close – Up]

United Insurance Holdings Corp. (United or UIHC), a property and casualty insurance holding company, announced that its subsidiary, United Property & Casualty Insurance Company (UPC Insurance), assumed 15,133 policies from Citizens Property Insurance Corp., the State of Florida's primary residual market property insurance entity.

According to a release, after finalizing the assumption, UPC Insurance's total policies in-force will be approximately 150,000 representing in-force premiums of approximately $275M.

"We are pleased to have completed this takeout," said John Forney, Chief Executive Officer of United, "and we welcome these new policyholders to the UPC Insurance family. We did rigorous screening to ensure that these policies meet our conservative underwriting standards, and we look forward to providing our new policyholders and their agents with great customer service and a company they can count on."

UIHC is an insurance holding company that sources, writes and services residential property and casualty insurance policies using a network of independent agents and a group of wholly owned insurance subsidiaries.

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