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Deal Overview

United Insurance Holdings Corp.
Actual Acquirer:
United Insurance Holdings Corp.
Interboro Insurance Company
Deal Type:
Insurance Company
Insurance Sector
Property & Casualty
Agreement Date:
Announcement Date:
Announced Deal Value ($ M):
Announced Deal Value, As Reported ($ M)
Announced Deal Value Per Share ($ )
Completion Date:

Consideration Breakout
Cash ($M) 48.5
Debt ($M) 8.6

Deal Pricing Ratios

Announcement Completion
Price / Earnings (x) NA NA
Price / Book (%) NA NA
Price / Statutory Net Income (x) NA NA
Price / Earnings (x) 16.52 10.80
Price / Capital & Surplus (%) NA NA
Price / Operating Income (x) 186.0 158.1
Price / Net Premiums Written (x) 1.13 1.09
Deal Terms
Description of Consideration

United Insurance Holdings Corp. paid $48.45 million in cash and issued $8.55 million in promissory notes to acquire Interboro Insurance Co. from Interboro LLC. The purchase price is subject to a post-closing adjustment if Interboro Insurance Company’s GAAP net book value is less than or greater than $40.7 million as of the post-closing accounting of the transaction.

Percent Acquired (%) 100.00
Accounting Method Acquisition
Merger of Equals? No
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) 8,000
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes Raymond James & Assoc. Inc.
Seller Yes Willis Towers Watson
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Squire Patton Boggs (US) LLP
Seller Yes Nixon Peabody LLP