UIHC - United Insurance closes on renewal rights reinsurance deal with HCI Group

United Insurance Holdings (UIHC) completes definitive agreements and closes its transaction with HCI Group (HCI) that transfers renewal rights on UIHC's personal lines of business in four Northeast states.The states are Connecticut, New Jersey, Massachusetts, and Rhode Island. The transaction was on terms substantially similar to those disclosed previously."Completion of this transaction supports our efforts to reduce operating leverage, improve risk-based capital adequacy and focus on growing our specialty commercial property business," said UPC Insurance President and CFO Brad Martz.

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United Insurance closes on renewal rights, reinsurance deal with HCI Group