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Balance Sheet

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Financial Highlights
12/31/2015
12/31/2016
3/31/2017
12/31/2017
Assets ($000)
Total Equity Instruments 49,454 26,891 28,470 61,593
Total Fixed Maturities 396,698 494,516 496,124 762,855
Total Securities 447,504 522,914 526,163 826,150
Investments 452,714 528,647 541,106 854,531
Cash and Cash Equivalents 84,786 150,688 124,219 276,275
Cash and Investments 537,500 679,335 665,325 1,130,806
Accrued Investment Income 2,915 3,735 3,645 5,577
Reinsurance Assets 82,360 156,592 128,533 597,678
Premiums Receivable 41,170 38,883 37,674 75,275
VOBA and Acquired Insurance Portfolios NA NA NA NA
Deferred Policy Acquisition Costs 46,732 65,473 63,806 103,882
Deferred Acquisition Costs 46,732 65,473 63,806 103,882
Total Intangible Assets 3,413 26,625 14,254 118,316
Memo: Consolidated VIE Assets NA NA NA NA
Fixed Assets 17,135 17,860 17,453 17,291
Total Other Assets 8,796 11,183 20,195 11,096
Separate Account Assets 0 0 0 0
Total Assets 740,021 999,686 950,885 2,059,921
Liabilities ($000)
P&C Loss and LAE Reserves 76,792 140,855 141,102 482,232
L&H Policy Reserves 0 0 0 0
Medical Claim Liabilities 0 0 0 0
Unearned Premiums Reserve 304,653 372,223 359,000 555,873
Other Policy Reserves 0 0 0 0
Total Policy Reserves 381,445 513,078 500,102 1,038,105
Total Reinsurance Liabilities 64,542 99,891 56,960 149,117
Premiums Payable NA NA NA NA
Repurchase Agreements 0 0 0 0
Other Senior Debt 12,353 54,175 53,822 161,364
Senior Debt 12,353 54,175 53,822 161,364
Trust Preferred (FAS 150) 0 0 0 0
Other Subordinated Debt 0 0 0 0
Total Subordinated Debt 0 0 0 0
Redeemable Financial Instruments (FAS 150) 0 0 0 0
Total Debt 12,353 54,175 53,822 161,364
Memo: Consolidated VIE Liabilities NA NA NA NA
Total Other Liabilities 42,470 91,215 92,894 174,210
Separate Account Liabilities 0 0 0 0
Total Liabilities 500,810 758,359 703,778 1,522,796
Mezzanine ($000)
Redeemable Preferred 0 0 0 0
Trust Preferred Securities 0 0 0 0
Total Minority Interest 0 0 0 0
Other Mezzanine Items 0 0 0 0
Total Mezzanine Level Items 0 0 0 0
Equity ($000)
TARP Preferred Equity 0 0 0 0
Other Preferred Equity 0 0 0 0
Total Preferred Equity 0 0 0 0
Common Equity 239,211 241,327 247,107 537,125
Equity Attributable to Parent Company 239,211 241,327 247,107 537,125
Noncontrolling Interests 0 0 0 0
Total Equity 239,211 241,327 247,107 537,125
Net Unrealized Gain 1,620 822 3,362 9,221
Cumulative Foreign Currency Translation 0 0 0 0
Minimum Pension Fund Liability 0 0 0 0
Fair Value of Effective Hedges 0 0 0 0
Tot Acc Other Comprehensive Inc 1,620 822 3,362 9,221
Total Equity, excl AOCI 237,591 240,505 243,745 527,904
Equity before Unrealized Gains 237,591 240,505 243,745 527,904
Basic Book Value per Share($) 11.11 11.15 11.37 12.56
Book Value per Share before Unrealized Gains($) 11.04 11.11 11.22 12.35
Book Value, excl AOCI($) 11.04 11.11 11.22 12.35
Shares Issued(actual) 21,736,431 21,858,697 21,938,691 42,965,137
Treasury Shares(actual) 212,083 212,083 212,083 212,083
Common Shares Outstanding(actual) 21,524,348 21,646,614 21,726,608 42,753,054
Balance Sheet Ratios (%)
Equity Securities/ Assets 6.68 2.69 2.99 2.99
Fixed Maturities/ Cash & Investments 73.80 72.79 74.57 67.46
Equity Securities/ Cash & Investments 9.20 3.96 4.28 5.45
Cash and Investments/ Assets 72.63 67.95 69.97 54.90
Total Equity/ Total Assets 32.32 24.14 25.99 26.08
Tangible Equity/ Tangible Assets 32.01 22.06 24.86 21.57
DAC/ Equity before Unrealized Gains 19.67 27.22 26.18 19.68
Debt plus Rdm Pfd/ Equity(x) 0.05 0.22 0.22 0.30
Total Debt/ Total Equity(x) 0.05 0.22 0.22 0.30
Debt/ Book Capitalization 4.91 18.33 17.89 23.10
Reserves/ Equity(x) 1.59 2.13 2.02 1.93
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.