American Coastal’s Ian loss may develop favourably: CFO
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American Coastal’s Ian loss may develop favourably: CFO

Hurricane Ian satellite 27 sep 22 noaa 13.34.jpg

United Insurance Holdings (UIHC) CFO Brad Martz said the firm hoped its commercial lines insurer American Coastal would be able to release Hurricane Ian loss reserves in future, after a major deterioration in losses in Q4.

The increase in gross Ian losses to $1.54bn from a preliminary estimate of $1bn across both American Coastal and personal lines insurer UPC rendered the latter carrier insolvent.


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