United Insurance : Investor Presentation Q4 2020

Table of Contents
Content	Pages
Q4 2020 Supplemental Information	3-12
Strategic Overview	13-27
Cautionary Statements	28

Q4-2020 Executive Summary

We remain optimistic about our strategy despite the unprecedented hurricane activity in 2020

Underlying

Results Improving

• • Core income excluding named windstorms $3.3m or $0.08/share, up $18m y/y

• • Underlying gross loss ratio of 21.5% improved 10.7 points y/y

• • Underlying combined ratio of 88.5% improved 14.6 points y/y

  Reducing CAT Retentions

• • Ceding more premium & retaining less loss due to quota share placed at 12.31.20

• • All Other Perils (AOP) CAT program retention lowered to $15m at 1.1.21

• • Focused on ceding more volatility to Core CAT (hurricane) program at 6.1.21

  Underwriting Actions Taken Are Significant

• • Additional rate increases planned in FL, LA, NC & TX

• • Restricted new business and allowing renewal attrition to curb overall exposure

• • Scheduled non-renewals targeting PML drivers to improve profitability

  Capital Secure

• • RBC over 300% for all companies and holding co. liquidity remains sufficient

• • As direct writings are right sized to capital, quota share may be reduced over time

• • Allocating capital to E&S and direct-to-consumer capabilities for future growth