Promissum Re SPC Ltd

United Insurance Holdings (UPC Insurance) has renewed its Promissum Re collateralized reinsurance facility in 2018 at an unknown size and the firm has deepened a relationship with investors Amundi Pioneer Asset Management who have allocated just under $20 million to the arrangement.

United Insurance Holdings Corp. (also known as UPC Insurance), a coastal and homeowners insurance focused property and casualty holding company, launched a novel collateralized reinsurance facility named Promissum Re earlier this year.