United Insurance Holdings Q2 Profit Rises - Quick Facts

(RTTNews) - United Insurance Holdings Corp. (UIHC) reported that its second-quarter net income was $4.5 million, or $0.28 per share, compared to $3.0 million, or $0.29 per share in the second quarter in 2012. The increase in net income was primarily due to gross earned premium growth and a lower ceded reinsurance premium percentage which was partially offset by a higher expense ratio in the second quarter and a higher loss ratio for the current year.

Quarterly revenues grew to $48.65 million from $31.56 million in the prior year quarter.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.24 per share and revenues of $40.44 million for the quarter. Analysts' estimates typically exclude special items.