Item 1.01. Entry into a Material Definitive Agreement.

On December 30, 2021, United Insurance Holdings Corp. (the "Company"), together with its wholly-owned subsidiaries, United Property and Casualty Insurance Company, an insurance company organized under the laws of the State of Florida ("UPC"), and United Insurance Management, L.C., a Florida limited liability company ("UIM"), entered into a Renewal Rights Agreement, dated as of December 30, 2021 (the "Renewal Rights Agreement"), with Homeowners Choice Property & Casualty Insurance Company, Inc., an insurance company organized under the laws of the State of Florida ("HCPCI"), pursuant to which the Company, UPC and UIM agreed to sell, and HCPCI agreed to purchase, the renewal rights to UPC's personal lines homeowners business in Georgia, North Carolina and South Carolina. The sale was also consummated on December 30, 2021.

As part of the sale of renewal rights, HCPCI will make an up-front cash payment to UPC of $3,800,000. In addition, following the collection by HCPCI of $64,000,000 of the premium for the policies issued by HCPCI to replace the subject personal lines homeowners policies, HCPCI will pay to UPC a renewal rights commission ("Renewal Rights Commission") in an amount equal to six percent (6%) of such premium for each such replacement policy issued by HCPCI after such time; but only to the extent the Renewal Rights Commission exceeds the up-front cash payment, and further provided, that the aggregate amount of Renewal Rights Commission payable by HCPCI to UPC shall not exceed $6,000,000.

The description of the Renewal Rights Agreement is qualified in its entirety by reference to the full text of the applicable agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.



  Exhibit No.                                           Description

                       Renewal Rights Agreement, dated as of December 30, 2021, by and among United
      10.1             Property and Casualty Insurance Company, United Insurance Holdings Corp.,
                       United Insurance Management, L.C., and Homeowners Choice Property & Casualty
                       Insurance Company, Inc.

      104              Cover Page Interactive Data File (embedded within the Inline XBRL document)

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