American Coastal

Kiln and UPC partnered to form the insurer in 2018, but it was merged into American Coastal earlier this year

The sector was hit by a rough first half of 2022, with more to come in the second half of the year.

Insurers could face pressure if interest rate and recession fears intersect with worsening loss cost trends.

The consolidation plan, subject to regulatory approval, seeks to create a more efficient operating structure for United going forward.

The firm said its results reflect its aim to return to profitability in 2022.

The Inside P&C research team looks forward to the big issues of the new year.

The Florida-headquartered carrier blamed litigation rates and rising reinsurance costs for the move.

Inside P&C's Research team looks at the prospects of Florida's wave of new arrivals.

Coupled with aggregate cover the company has in place, United said Thursday that exposure to cat events for the remainder of its current reinsurance program would be $9mn.

She previously worked as VP underwriting for IAT insurance group, a Florida based property-casualty carrier.

The Inside P&C Select Index outperformed the S&P 500 (5.7% to 2.9%) in August, despite Hurricane Ida making landfall.

The Florida-based carrier is now scaling back personal lines exposure and raising rates after reporting a $25mn Q2 loss.