UPC Q2 losses exhaust cat agg retention

United Insurance Holdings estimates it has now hit the retention
on its 1 January-placed catastrophe aggregate reinsurance programme
after a series of events in the second quarter.
Late today, the carrier preannounced $20mn in pre-tax
catastrophe losses as well as $7mn in merger-related expenses for
the second quarter.
Most of the cat losses stemmed from hailstorms, tornadoes and
other severe weather events in Florida, Georgia, Louisiana and
Texas.
The losses mean it has met the $30mn retention