Financial Data and Key Metrics Changes - For Q3 2021, the company reported a GAAP net loss of $14.3 million or $0.33 per share, compared to a loss of $74.1 million or $1.73 per share in the previous year, indicating significant improvement [13] - The core loss was $15.5 million or $0.36 per share, which declined roughly $6 million or $0.14 per share year-over-year, primarily due to higher reinsurance costs [13][14] - Operating expenses decreased by $16.1 million or 17% year-over-year to $76.3 million, driven mainly by higher ceding commission income [18] Business Line Data and Key Metrics Changes - Gross premiums written for the quarter declined by $43.3 million or approximately 12% due to intentional exposure reduction in personal lines [14] - Commercial lines premiums increased nearly 19% year-to-date, while personal lines exposure decreased [8] - The company achieved a record average rate increase of 13.8% across the personal lines renewal business portfolio in Q3 [7] Market Data and Key Metrics Changes - The Florida insurance market remains firm, with expectations of continued hard market conditions, especially for personal lines and commercial residential [10] - The company anticipates a 10% decline in total insured value (TIV) for personal lines next year [7] Company Strategy and Development Direction - The company aims to achieve a 50-50 balance between commercial and personal lines over the next three years [8][22] - The strategy includes increased reinsurance, exposure management, and reduced catastrophe retention levels to protect capital [5][6] - The implementation of advanced risk measurement algorithms and increased physical inspections is part of the underwriting improvement initiatives [9][16] Management's Comments on Operating Environment and Future Outlook - Management expects to return to profitability in Q4 2021 and aims for strong underwriting profit in 2022, targeting return on equity (ROE) in 2023 [11] - The company is cautiously optimistic about the impact of Florida Senate Bill 76, which has led to a reduction in lawsuits [10][17] Other Important Information - The company's assets totaled $3.3 billion, with cash and investments of $1.160 billion [19] - GAAP equity attributable to stockholders declined approximately 19% from year-end to $320.4 million, with a book value per share of $7.42 [19] Q&A Session Summary Question: What is the plan for achieving a 50-50 mix of personal and commercial lines? - The company plans to achieve this balance in approximately three years [22] Question: Are there other operations or states being considered for more aggressive actions? - The company has various exposure management strategies tailored to different states and has significantly reduced exposure in the Northeast [24] Question: How does the company plan to handle potential losses from smaller storms? - The company is negotiating its reinsurance renewals and is comfortable with its current retention levels [38][42] Question: What is the outlook for the expense ratio next year? - The net expense ratio is expected to remain comparable to the current quarter, while the direct expense ratio may see slight improvement [46][48]

United Insurance Holdings Corp. (UIHC) Q2 2021 Results Conference Call August 4, 2021 5:00 PM ET Company Participants Adam Prior - SVP, The Equity Group Dan Peed - CEO Brad Martz - President and CFO Conference Call Participants Greg Peters - Raymond James Elyse Greenspan - Wells Fargo Operator Greetings. Welcome to the United Insurance Holdings Corporation's Second Quarter 2021 Earnings Call. [Operator Instructions] Please note, this conference is being recorded. I will now turn the conference over to your ...

United Insurance Holdings Corp. (UIHC) Q1 2021 Results Conference Call May 5, 2021 5:00 PM ET Company Participants Adam Prior - Senior Vice President, The Equity Group Dan Peed - Chairman and Chief Executive Officer Brad Martz - President and Chief Financial Officer Conference Call Participants Charles Peters - Raymond James Elyse Greenspan - Wells Fargo Operator Hello, and welcome to the United Insurance Holdings Corp Q1 Conference Call. At this time, all participants are in a listen-only mode. [Operator I ...