Q4-2021 Earnings Report
Financial Leverage Increased While Operating Decreased
($ in thousands, except per share amounts)
Dec. 31,
2021
Dec. 31,
2020
Variance
Selected Balance Sheet Data
Cash & investments
$
964,844 $ 1,296,549
-25.6%
Unpaid loss & LAE reserves, net of reinsurance
$
Financial debt
$
Stockholders' equity attributable to UIHC
$
Total capital
$
87,330 $ 268,810
156,561 $ 158,041 -0.9%
312,406 $ 395,753 -21.1%
468,967 $ 553,794 -15.3%
-67.5%
Equity erosion of ~$83.3m (-21.1%) resulted in our
debt/capital ratio increasing to 33.4%.
Leverage Ratios
Debt-to-total capital
Net premiums earned-to-stockholders' equity.
33.4%
188.8%
28.5%
193.5%
17.0%
-2.4%
Exposure reduction and lower retention of risk are
expected to continue lowering operating leverage.
Per Share Data
Common shares outstanding
Book value per common share
Tangible book value per common share
43,370,442
43,075,877
0.7%
et st
$
7.20 $
9.19
-21.6%
$
5.10 $
6.98
-27.0%
13View entire presentation