KBRA Assigns Ratings to United Insurance Holdings Corp. and its Key Operating Subsidiaries
The ratings for
As a catastrophe-exposed property writer,
Tempering these strengths are the organization’s elevated premium leverage, continued product/geographic concentration and execution risk. KBRA notes that
The Stable outlook reflects KBRA’s expectation that UIHC and its operating subsidiaries will continue to execute its business strategy by making prudent decisions with respect to at-risk capital given the nature of lines of coverage offered. Additionally, KBRA believes UIHC will benefit from its pricing strategy and upcoming rate adjustments to improve the combined ratio, which was dampened in 2017 by hurricanes Harvey, Irma and Nate as well as several smaller catastrophes occurring in the first half of the year.
The ratings are based on KBRA’s Global Insurer & Insurance Holding Company Rating Methodology published on
A full report will soon be available on www.kbra.com.
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