United Insurance misses forecast as cat losses bite

Floridian carrier United Insurance Holdings posted a
greater-than-expected loss in the fourth quarter because of
increased catastrophe activity and reserving.
The company, which is in the process of buying American Coastal,
reported a loss per share of $0.49, worse than the consensus
forecast for $0.42, and compared with earnings per share of $0.64 a
year earlier.
It reported a loss of $17.6mn before tax for the quarter
compared with profits of $20.4mn a year earlier.
Catastrophe losses in the f