Excluding employee stock compensation from one measure of earnings make them look more favorable. Critics of the practice include Warren Buffett. Read More...
American City Business Journals
St. Pete insurer plans comeback after divesting from insolvent subsidiary
United Insurance Holdings Corp. plans a comeback after divesting from its now-insolvent subsidiary, UPC Insurance. The St. Petersburg-based insurance company will shift focus to its commercial lines business, American Coastal Insurance Company, which has remained relatively profitable in contrast to its residential portfolio, according to CFO Brad Martz. UPC was forced to declare insolvency after the company re-estimated the impact of Hurricane Ian and came up with $500 million in additional unforeseen losses, which exceeded total reinsurance limits in place, according to Martz.
