UPC Insurance Company Overview and ESG Strategy
Q2-2021 Results by Line of Business
Our Specialty Commercial Continues to Perform Well
Personal Lines (PL)
represents our
homeowners' business
and is performing
outside of Florida, but
Commercial Lines (CL)
is what we seek to grow
$ in millions
Gross Premiums Earned
Ceded Premiums Earned
Net Premiums Earned
Investment & Other Income
Unrealized G(L) on Equities
Total Revenue
Total Expenses (excluding interest)
PL
CL
Total
$ 254.8 $ 101.6 $ 356.4
(59.2) (211.0)
(151.8)
103.1
42.4
145.5
6.4
1.1
7.6
2.2
0.2
2.4
111.7
43.7
155.5
Underlying Loss & LAE
62.5
15.7
78.2
Current year CAT Loss & LAE
37.8
2.4
40.3
Prior year development
(0.3)
(0.1)
(0.4)
Total Loss
100.0
18.0
118.1
Operating Expense
47.6
20.3
67.9
147.7
38.3
186.0
Core Income (Loss) before tax
Core Income (Loss)
$ (39.5) $
5.3 $ (34.2)
$
(28.7) $
4.0 $ (24.6)
Direct Loss Ratio - NonCAT
39.3%
Direct Loss Ratio - CAT (Current AY)
Gross Expense Ratio
29.3%
18.6%
10.9% 25.5%
33.4%
18.7%
20.0% 19.1%
Net Loss Ratio
97.0% 42.5%
81.2%
Net Expense Ratio
Combined Ratio
CAT Loss
PY Development F/(U)
46.2% 47.8% 46.7%
143.3% 90.4% 127.9%
-36.7%
0.3%
Underlying Combined Ratio
106.9%
-5.8% -27.7%
0.2%
84.8% 100.4%
0.3%
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