United Insurance Holdings Corp. reported a net loss attributable to the company for the third quarter of 2021 was $14.3 million, or $0.33 per diluted share. The increase in earnings was primarily driven by a decrease in loss and LAE expense for the quarter.
Gross premiums written decreased by $43.3 million, or 11.8%, to $322.5 million.
Net loss attributable to the Company for the third quarter of 2021 was $14.3 million, or $0.33 per diluted share
Loss and LAE decreased by $115.9 million, or 53.0%, to $102.8 million.
Book value per common share decreased 19.3% from $9.19 at December 31, 2020, to $7.42 at September 30, 2021.
The third quarter was an active hurricane quarter resulting in a modest loss, much reduced from last year and in line with expectations for this continuing transition year. We continue to take steps to improve our underlying profitability including increasing rates, strong exposure management and improved risk selection techniques, as we look forward to a return to a strong underwriting profit.
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