UIHC’s American Coastal secured 100% capacity for 2023-24 cat reinsurance: CEO Peed
United Insurance Holdings CEO Dan Peed said that the carrier has secured 100% of the capacity for its 2023-24 catastrophe reinsurance program for American Coastal Insurance Company, albeit at higher risk-adjusted rates.
On a call with analysts, the executive added that the renewed program for American Coastal “creates first event hurricane protection exceeding the 160-year return period on a first event basis”.
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