United Insurance Holdings Corp. reported its unaudited financial results for the three-and six-month period ended June 30, 2009. For the second quarter, the Company generated net income of $2.8 million or $0.27 per diluted share, compared to net income of $9.2 million, or $0.78 per diluted share, for the same period last year. Revenue was $26.32 million compared to $24.94 million in the previous year period. Income before income tax was $4.63 million compared to $11.30 million in the previous year period. For the six-month period ended June 30, 2009, the Company generated net income of $6.0 million, or $0.57 per diluted share, compared to net income of $17.7 million, or $1.50 per diluted share, for the same period last year. The decrease in net income for the three-and six-month periods ended June 30, 2009, was primarily the result of increased losses and LAE in the second quarter, increased reinsurance costs that took effect in June, and policy assumption bonuses that United received from Citizens during 2008. Revenue was $48.30 million compared to $51.39 million in the previous year period. Income before income tax was $9.63 million compared to $21.85 million in the previous year period. Book value per share increased 16% to $4.73 at June 30, 2009, compared to $4.07 at December 31, 2008. The company also announced that quarterly dividend of $0.05 per share was approved by the Board of Directors and will be payable on September 15, 2009 to shareholders of record on August 31, 2009.

United Insurance Holdings Corp., Q2 2009 Earnings Call, Aug 14 2009

On June 9, 2009, United Insurance Holdings Corp. announced that the Board of Directors appointed Donald Cronin, currently the President and Chief Executive Officer of the company, to serve as Principal Financial Officer on an interim basis. Mr. Cronin will serve in such capacity only until a new Chief Financial Officer for the company is appointed by the Board. Mr. Cronin, currently serves as President and Chief Executive Officer of the company, a position he has held since October 2008.