UPC Insurance Company Overview and ESG Strategy
Overview of Challenging Market Conditions
Florida is the peak exposure zone in the world for windstorm where we have successfully operated since 1999
Atlantic Hurricanes (1)
Atlantic Hurricanes
Social Inflation Driving Growth in Industry Suits Served
Hurricanes Significantly Impacting the FL Market -
Average (7.1)
25,000
During the last four years, two of the top ten costliest hurricanes in US
history have made landfall in Florida including Hurricanes Irma
20,000
($32B(2)/2017) and Michael ($14B(2)/2018)
13
12
15,000
10
10
4
8
7
7
3
10,000
2
2
4
2
5,000
2
8
2
5
3
20,854
0
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
1Q14
1Q15
1Q16
1Q17
1Q18
1Q19
1Q20
1Q21
Florida Homeowners Direct Incurred Loss Ratios (%)
103
93
93
77
70
Florida Litigation Trends (3)
Year
% of Nationwide
Homeowners' Claims
Opened in Florida
% of Nationwide
Homeonwers' Suits
Opened in Florida
70
2016
7.8%
64.4%
38
38
32
34
36
26
39
2017
16.5%
68.1%
20
29
29
24
25
20
2018
11.9%
79.9%
2019
8.2%
76.5%
2006 2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
Source: Insurance Information Institute
(1)
(2)
Only accounts for named storms that reached hurricane status
Insured losses adjusted for inflation to reflect 2020 dollars
(3)
From the Florida Office of Insurance Regulation's analysis of the Florida market, which leverages data from NAIC
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