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25 April 2018

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UPC trims aggregate cover as it renews quota share

Fiona Robertson 8 January 2018

United Insurance Holdings (UPC Insurance) placed pared-back aggregate cover with a single reinsurer as it renewed its quota share at 1.1.

UPC renewed its calendar-year aggregate cover with a private reinsurer, which provided $20mn of cover - down from $30mn last year.

As it did last year, the aggregate covers catastrophe perils from minor weather events, excluding hurricanes, tropical storms, tropical depressions and earthquakes.

The trigger was set at losses in excess of 4.75 percent of UPC's gross earned premium...

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