ST. PETERSBURG, Fla.--(BUSINESS WIRE)--
United Insurance Holdings Corp. (NASDAQ: UIHC) (UPC Insurance or the
Company), is set to join the Russell Microcap® Index when
Russell Investments reconstitutes its comprehensive set of U.S. and
global equity indexes on June 28, according to a preliminary list of
additions posted June 21 on www.russell.com/indexes.
Membership in the Russell Microcap Index, which remains in place for one
year, means automatic inclusion in the appropriate growth and value
style indexes. Russell determines membership for its equity indexes
primarily by objective, market-capitalization rankings and style
attributes.
John Forney, CEO of UPC Insurance commented, “We are pleased to be added
to the Russell Microcap Index. UPC’s inclusion in this Index will
increase our visibility with investors and institutions that rely on the
Russell Indexes as a key part of their investment strategy. We continue
to build on our position as a leading underwriter of insurance in
cat-exposed regions of the country, and have built a platform that we
believe supports steady and profitable growth."
Russell indexes are widely used by investment managers and institutional
investors for index funds and as benchmarks for both passive and active
investment strategies. Russell calculates more than 700,000 benchmarks
daily covering approximately 98 percent of the investable market
globally, 80 countries and more than 10,000 securities. Approximately
$4.1 trillion in assets are benchmarked to the Russell Indexes.
Annual reconstitution of Russell Indexes captures the 4,000 largest U.S.
stocks as of the end of May, ranking them by total market capitalization
to create the Russell 3000 ® Index and Russell Microcap
Index. These investment tools originated from Russell's multi-manager
investment business in the early 1980s when the company saw the need for
a more objective, market-driven set of benchmarks in order to evaluate
outside investment managers.
Total returns data for the Russell Microcap and other Russell Indexes is
available at http://www.russell.com/indexes/data/US_Equity/Russell_US_Index_returns.asp.
About UPC Insurance
Founded in 1999, UPC Insurance is an insurance holding company that
sources, writes and services residential property and casualty insurance
policies using a network of independent agents and a group of wholly
owned insurance subsidiaries. United Property & Casualty Insurance
Company, the primary operating subsidiary of UPC Insurance, writes and
services property and casualty insurance in Florida, Massachusetts,
North Carolina, Rhode Island and South Carolina, and is licensed to
write in New Hampshire, New Jersey and Texas. From its headquarters in
St. Petersburg, UPC Insurance's team of dedicated professionals manages
a completely integrated insurance company, including sales,
underwriting, customer service and claims.
United Insurance Holdings Corp.
John Rohloff, 727-895-7737
Director
of Financial Reporting
jrohloff@upcinsurance.com
or
Investor
Relations:
The Equity Group
Adam Prior, 212-836-9606
Senior
Vice-President
aprior@equityny.com
or
Terry
Downs, 212-836-9615
Associate
tdowns@equityny.com
Source: United Insurance Holdings Corp.