Q4-2021 Earnings Report

Premium Relative to Exposure Improving We expect this gap to widen further from additional underwriting improvement initiatives. TIV (Billions) Pooled Companies (UPC/FSIC/ACIC) Monthly Prem/TIV Change Southeast States Only $1,250 $325 2019 Change: 10.8% $305 2020 Change: 11.8% $1,200 0.29% -0.71% 1.53% $1,150 -2.03% 2021 Change: -3.3% 4.30% -0.90% $1,100 3.35% 2.17% $285 1.60% 2.44% $1,050 $1,000 4.12% 2.26% $265 $950 $245 2.07% -1.07% -0.66% 0.40% 0.40% 0.68% -5.80% 2.30% 3.81% 2.68% 2019 Change: +9.8% 2020 Change: +1.8% 2021 Change: -15.8% -5.73% $900 -4.54% $225 $750 Dec-18 Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 TIV Prem $850 $800 10 Premium (Millions)

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