They're on their way to earn $2/share this year - now's the time to load up while they're cheap (under $15!). I think that they can clear 50 cents in Q2.
This does not surprise me at all
This does not surprise me.
Does your significant research suggest criminal backgrounds of UIHC executives and severe undercapitalization of risk? Oh yeah, thanks for your first post to this board - you appear to be astute.
I read the transcript this weekend. The highlights of UIC’s great third quarter include gross premium written of $156 million, representing 48% growth year-over-year; gross premiums earned of $129 million, 28% growth year-over-year; net income of $8.1 million, or $0.38 a share; and underlying combined ratio of 88.3%; and our book value per share increased to $10.55 per share, up 15% from the same period a year ago.
The $500 million premium in force threshold that we hit this month was significant for our company. There are speaking of building a $1 billion business, facing coastal states from Texas to Maine. They're now half way.
Note that there was also 3 cents/share of non-recurring legal expense. They spoke of a South Carolina rain matter - not sure how much that will cost, but it didn't appear to be troubling. Systems expense reduction will start in the 2nd half of 2016, with the new system up and running in 2017 (which will save 2 points of expense).
I think that the Company is doing well and we need to continue to hold shares and continue to buy on dips.
Sentiment: Strong Buy