Company News # 2017-04-24
UPC Insurance Wins Sponsor of the Year
We are proud to announce that
UPC received the "Sponsor of the Year" award at the 2017 Trading Risk awards recently held in London.
This prestigious award recognizes carriers that have made innovative use of Insurance Linked Securities (ILS) market capacity in building their reinsurance programs. The ILS segment is just another tool to make our reinsurance program stronger than ever. This year, to protect our policyholders and stakeholders even more, we are placing our strongest reinsurance program to date. This year's placement will be nearly
$3 billion dollars, which would protect our policyholders up to a 1 in 400-year event.
The ILS capacity is another vehicle along with traditional reinsurance, cat bonds, collateralized reinsurance, and other methods to support the most important of UPC's five foundations - Financial Stability.
The other two finalists were Generali and USAA, two multi-billion dollar companies.
UPC team receiving the reward: second from left Kimberly A. Salmon - General Counsel & Chief Legal Officer, John Forney – President & CEO, Deepak Menon – Chief Revenue Officer, Paul F. DiFrancesco – Chief Underwriting Officer.
UPC Facts – Did You know?
- UPC is the 22nd largest homeowners insurer in U.S. for 2016, writing in 12 states.
- UPC ranked 38th on Fortune® magazine’s 100 Fastest-Growing Companies in the world for the three-year period ending June 30, 2016.
- UPC Insurance family of companies includes: American Coastal Insurance – Florida’s largest commercial property writer, Interboro Insurance – serving New York market with homeowners products since 1914, and Family Security Insurance – a personal lines insurance company with operations in Hawaii and Louisiana.
Everyone at UPC is committed to our agency partners’ success and helping you grow your business. Thank you for making UPC your carrier of choice and your continued partnership.
John Forney, CFA
President and Chief Executive Officer