UNITED INSURANCE HOLDINGS CORP. FILES (8-K) Disclosing Results of Operations and Financial Condition, Material Impairments, Financial Statements and Exhibits

Item 2.02. Results of Operations and Financial Condition.

Upon completion of United Insurance Holdings Corporation's (the "Company")
year-end review of unpaid loss and loss adjustment reserves with our independent
actuarial firm, we expect to incur approximately $197 million of net loss and
loss adjustment expense related to current accident year catastrophe events for
the fourth quarter of 2022, driven primarily by Hurricane Ian development. Gross
losses from Hurricane Ian increased from our preliminary estimate of $1 billion
on September 30, 2022, to approximately $1.54 billion as of December 31, 2022.

Our Hurricane Ian gross loss estimate related to our personal lines business
underwritten by United Property & Casualty Insurance Company, an insurance
company organized under the laws of the State of Florida, ("UPC") increased from
$660 million to $864 million resulting in a net increase in loss expense to UPC
of $145 million net of reinsurance as of December 31, 2022. UPC's current loss
estimate of $864 million fully exhausts all reinsurance available to UPC for
this specific event. In addition, we estimate that UPC will also incur
approximately $36 million of net loss and loss adjustment expense related to
current accident year non-hurricane catastrophe losses and $61 million of net
loss and loss adjustment expense during the fourth quarter of 2022 from adverse
prior year reserve development on both catastrophe and non-catastrophe claims.

Our Hurricane Ian gross loss estimate related to our commercial lines business
underwritten by American Coastal Insurance Company ("ACIC"), an insurance
company organized under the laws of the State of Florida, increased from $340
million to $679 million resulting in a net increase in loss and loss adjustment
expense to ACIC of $16 million net of reinsurance inclusive of all current
accident year catastrophe losses incurred during the fourth quarter of 2022.
ACIC's current loss estimate leaves approximately $518 million of limit
remaining from the Florida Hurricane Catastrophe Fund placed at 90%, leaving a
10% co-participation by ACIC for future loss development related to Hurricane
Ian.

Item 2.06. Material Impairments

As a result of the increased net losses incurred by UPC described in Item 2.02
above, UPC is expected to be insolvent as of December 31, 2022. Accordingly, the
Company has notified the Florida Office of Insurance Regulation of UPC's
material impairment. Assuming UPC is placed into receivership, the Company would
immediately de-consolidate UPC from its operations on the effective date of
receivership.

The impact of de-consolidating UPC from the Company's balance sheet and income
statement as if such de-consolidation had occurred for the periods ending
September 30, 2022 and December 31, 2021 is included in the pro forma financial
statements, which are filed as Exhibit 99.1 to this Current Report on Form 8-K
and incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

  Exhibit No.                                           Description

      99.1             Pro forma financial statements as of and for the periods ending September 30,
                       2022 and December 31, 2021.

      104              Cover Page Interactive Data File (embedded within the Inline XBRL document)