United Insurance Holdings Corp. Announces the Sale of Its Florida Personal Lines Renewal Rights to Slide Insurance, Inc.
United Insurance Holdings Corp. (NASDAQ:UIHC), a property and casualty insurance holding company ("UPC Insurance"), announced today that it has sold the renewal rights to UPC Insurance's personal lines business in the state of Florida, and sold certain data and intellectual property to Slide Insurance, Inc. ("Slide"). The transaction accelerates the run-off of UPC Insurance's personal lines portfolio, further reducing its exposure to Florida liabilities and allowing UPC Insurance to focus on its fast-growing commercial specialty property portfolio, underwritten by American Coastal Insurance Company.
Under the terms of the transaction, UPC Insurance will cancel approximately 72,000 Florida
