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Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The tables below presents the information for each of the reportable segments profit or loss as well as segment assets for the years ended December 31, 2022, 2021 and 2020.

						Year Ended December 31, 2022
						Commercial						Personal (1)						Adjustments						Consolidated
REVENUE:
Gross premiums written						$	508,243					$	615,820					$	—					$	1,124,063
Change in gross unearned premiums						(44,029)						143,149						—						99,120
Gross premiums earned						464,214						758,969						—						1,223,183
Ceded premiums earned						(245,293)						(515,264)						—						(760,557)
Net premiums earned						218,921						243,705						—						462,626
Net investment income						5,861						8,097						53						14,011
Net realized losses						(6,511)						(25,571)						—						(32,082)
Net unrealized losses on equity securities						(1,966)						(4,617)						(2)						(6,585)
Other revenue						1,178						16,271						3						17,452
Total revenues						217,483						237,885						54						455,422
EXPENSES:
Losses and loss adjustment expenses						87,143						550,504						—						637,647
Policy acquisition costs						80,996						75,093						—						156,089
Operating expenses						3,926						39,270						436						43,632
General and administrative expenses (2)						9,579						52,318						1,420						63,317
Interest expense						—						131						9,482						9,613
Total expenses						181,644						717,316						11,338						910,298
Income (loss) before other income						35,839						(479,431)						(11,284)						(454,876)
Other income (loss)						2						(1,722)						12,115						10,395
Income (loss) before income taxes						$	35,841					$	(481,153)					831						(444,481)
Provision for income taxes																		25,485						25,485
Net loss																		$	(24,654)					$	(469,966)
Less: Net loss attributable to noncontrolling interests																		(111)						(111)
Net loss attributable to UIHC																		$	(24,543)					$	(469,855)
Loss ratio, net (3) (4)						39.8		%				225.9		%										137.8		%
Expense ratio (3) (5)						43.2		%				68.4		%										56.9		%
Combined ratio (3) (6)						83.0		%				294.3		%										194.7		%
Total segment assets						$	1,588,385					$	1,284,999					$	(35,888)					$	2,837,496

(1) Our personal lines income statement also includes amounts related to subsidiaries outside of our insurance companies. We have included these items as these subsidiaries directly support our personal lines operations.

(2) Included in our General and Administrative expenses is $19,299,000 and $3,246,000 of depreciation and amortization expense related to our personal and commercial lines assets, respectively. Personal lines depreciation and amortization expenses includes $13,569,000 related to the impairment of goodwill.

(3) As these are calculated ratios, the addition of the ratios will not result in the same value as the consolidated ratio. To calculate the consolidated ratio please see the corresponding footnote below.

(4) Loss ratio, net is calculated as losses and LAE net of losses ceded to reinsurers, relative to net premiums earned. Management uses this operating metric to analyze our loss trends and believes it is useful for investors to evaluate this component separately from our other operating expenses.

(5) Expense ratio is calculated as the sum of all operating expenses less interest expense relative to net premiums earned. Management uses this operating metric to analyze our expense trends and believes it is useful for investors to evaluate these components separately from our loss expenses.

(6) Combined ratio is the sum of the loss ratio, net and expense ratio. Management uses this operating metric to analyze our total expense trends and believes it is a key indicator for investors when evaluating the overall profitability of our business.

						Year Ended December 31, 2021
						Commercial						Personal (1)						Adjustments						Consolidated
REVENUE:
Gross premiums written						$	422,238					$	907,207					$	—					$	1,329,445
Change in gross unearned premiums						(11,975)						90,973						—						78,998
Gross premiums earned						410,263						998,180						—						1,408,443
Ceded premiums earned						(237,056)						(581,626)						—						(818,682)
Net premiums earned						173,207						416,554						—						589,761
Net investment income						4,764						8,962						46						13,772
Net realized gains (losses)						(34)						3,601						—						3,567
Net unrealized gains on equity securities						1,471						1,766						—						3,237
Other revenue						—						24,190						—						24,190
Total revenues						179,408						455,073						46						634,527
EXPENSES:
Losses and loss adjustment expenses						54,718						367,416						—						422,134
Policy acquisition costs						80,198						93,376						—						173,574
Operating expenses						4,873						51,004						380						56,257
General and administrative expenses (2)						7,599						47,927						1,686						57,212
Interest expense						—						89						9,302						9,391
Total expenses						147,388						559,812						11,368						718,568
Income (loss) before other income						32,020						(104,739)						(11,322)						(84,041)
Other income						1						183						—						184
Income (loss) before income taxes						$	32,021					$	(104,556)					(11,322)						(83,857)
Benefit for income taxes																		(23,989)						(23,989)
Net income (loss)																		$	12,667					$	(59,868)
Less: Net loss attributable to noncontrolling interests																		(1,949)						(1,949)
Net income (loss) attributable to UIHC																		$	14,616					$	(57,919)
Loss ratio, net (3) (4)						31.6		%				88.2		%										71.6		%
Expense ratio (3) (5)						53.5		%				46.2		%										48.7		%
Combined ratio (3) (6)						85.1		%				134.4		%										120.3		%
Total segment assets						$	1,011,562					$	1,234,875					$	452,136					$	2,698,573

(1) Our personal lines income statement also includes amounts related to subsidiaries outside of our insurance companies. We have included these items as these subsidiaries directly support our personal lines operations.

(2) Included in our General and Administrative expenses is $7,419,000 and $3,397,000 of depreciation and amortization expense related to our personal and commercial lines assets, respectively.

(3) As these are calculated ratios, the addition of the ratios will not result in the same value as the consolidated ratio. To calculate the consolidated ratio please see the corresponding footnote below.

(4) Loss ratio, net is calculated as losses and LAE net of losses ceded to reinsurers, relative to net premiums earned. Management uses this operating metric to analyze our loss trends and believes it is useful for investors to evaluate this component separately from our other operating expenses.

(5) Expense ratio is calculated as the sum of all operating expenses less interest expense relative to net premiums earned. Management uses this operating metric to analyze our expense trends and believes it is useful for investors to evaluate these components separately from our loss expenses.

(6) Combined ratio is the sum of the loss ratio, net and expense ratio. Management uses this operating metric to analyze our total expense trends and believes it is a key indicator for investors when evaluating the overall profitability of our business.

						Year Ended December 31, 2020
						Commercial						Personal (1)						Adjustments						Consolidated
REVENUE:
Gross premiums written						$	393,263					$	1,063,600					$	—					$	1,456,863
Change in gross unearned premiums						(3,456)						(46,427)						—						(49,883)
Gross premiums earned						389,807						1,017,173						—						1,406,980
Ceded premiums earned						(194,477)						(446,840)						—						(641,317)
Net premiums earned						195,330						570,333						—						765,663
Net investment income						7,882						15,723						520						24,125
Net realized gains						23,760						37,960						4,971						66,691
Net unrealized losses on equity securities						(9,506)						(15,244)						(2,812)						(27,562)
Other revenue						1						17,738						—						17,739
Total revenues						217,467						626,510						2,679						846,656
EXPENSES:
Losses and loss adjustment expenses						92,097						516,219						—						608,316
Policy acquisition costs						98,276						137,726						—						236,002
Operating expenses						3,440						49,255						181						52,876
General and administrative expenses (2)						7,685						58,385						5,987						72,057
Interest expense						28						89						9,465						9,582
Total expenses						201,526						761,674						15,633						978,833
Income (loss) before other income						15,941						(135,164)						(12,954)						(132,177)
Other income						7						67						—						74
Income (loss) before income taxes						$	15,948					$	(135,097)					(12,954)						(132,103)
Benefit for income taxes																		(36,605)						(36,605)
Net income (loss)																		$	23,651					$	(95,498)
Less: Net income attributable to noncontrolling interests																		956						956
Net income (loss) attributable to UIHC																		$	22,695					$	(96,454)
Loss ratio, net (3) (4)						47.1		%				90.5		%										79.4		%
Expense ratio (3) (5)						56.0		%				43.0		%										47.1		%
Combined ratio (3) (6)						103.1		%				133.5		%										126.5		%
Total segment assets						$	939,691					$	1,369,797					$	539,453					$	2,848,941

(1) Our personal lines income statement also includes amounts related to subsidiaries outside of our insurance companies. We have included these items, as these subsidiaries directly support our personal lines operations.

(2) Included in our General and Administrative expenses is $7,664,000 and $3,264,000 of depreciation and amortization expense related to our personal and commercial assets, respectively.

(3) As these are calculated ratios, the addition of the ratios will not result in the same value as the consolidated ratio. To calculate the consolidated ratio please see the corresponding footnote below.

(4) Loss ratio, net is calculated as losses and LAE net of losses ceded to reinsurers, relative to net premiums earned. Management uses this operating metric to analyze our loss trends and believes it is useful for investors to evaluate this component separately from our other operating expenses.

(5) Expense ratio is calculated as the sum of all operating expenses less interest expense relative to net premiums earned. Management uses this operating metric to analyze our expense trends and believes it is useful for investors to evaluate these components separately from our loss expenses.

(6) Combined ratio is the sum of the loss ratio, net and expense ratio. Management uses this operating metric to analyze our total expense trends and believes it is a key indicator for investors when evaluating the overall profitability of our business.

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

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- References

No definition available.

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