Welcome to our dedicated page for Universal Ins Hldgs news (Ticker: UVE), a resource for investors and traders seeking the latest updates and insights on Universal Ins Hldgs stock.
Universal Insurance Holdings Inc. (UVE) delivers specialized residential insurance solutions through focused underwriting and risk management expertise. This news hub provides investors and industry observers with direct access to UVE's official communications and strategic developments.
Find timely updates on earnings announcements, regulatory filings, product innovations, and leadership changes. Our curated collection ensures transparent access to UVE's operational milestones without promotional bias or speculative analysis.
Key content categories include quarterly financial results, claims management initiatives, market expansion updates, and corporate governance news. Each release is presented in its original form to maintain regulatory compliance and informational integrity.
Bookmark this page for efficient tracking of UVE's evolving position in the property insurance sector. Combine regular monitoring with independent financial research to inform your understanding of the company's market trajectory.
Universal Insurance Holdings, Inc. (NYSE: UVE) has announced the dates for its third quarter 2024 earnings release and conference call. The company will release its Q3 2024 results after market close on Thursday, October 24, 2024. A conference call to discuss the financial results is scheduled for Friday, October 25, 2024, at 10:00 a.m. ET.
Investors and interested parties can participate in the call through two methods:
- An online, real-time webcast available at universalinsuranceholdings.com/investors
- A teleconference by registering in advance at https://register.vevent.com/register/BI790e26e2fbb842a28dbb61116474c3ae
After registration, participants will receive a personalized dial-in number and conference code. An online replay of the call will be available on the company's investor website shortly after the call concludes.
Universal Insurance Holdings (NYSE: UVE) reported strong Q2 2024 results, with diluted GAAP EPS of $1.21 and adjusted EPS of $1.18. The company achieved an annualized return on average common equity (ROCE) of 37.4% and an adjusted ROCE of 30.5%. Direct premiums written increased by 5.7% to $578.3 million compared to the prior year quarter. Book value per share rose 24.0% year-over-year to $13.79, while adjusted book value per share increased 14.9% to $16.44. The company returned $10.1 million to shareholders, including $5.3 million in share repurchases and a $0.16 per share regular dividend.
Key financial highlights include a 12.0% increase in total revenues to $380.2 million and a 24.0% rise in net income available to common stockholders to $35.4 million. The company saw improvements in its combined ratio, which decreased by 3.2 points to 95.9%, driven by a lower net loss ratio of 70.6%.
Universal Insurance Holdings (NYSE: UVE) has declared a quarterly cash dividend of 16 cents per share, payable on August 9, 2024, to shareholders of record by August 2, 2024.
The company will release its Q2 2024 earnings after market close on July 25, 2024, followed by a conference call on July 26, 2024, at 10:00 a.m. ET. Investors can listen to the call via a webcast or by teleconference registration.
Universal Insurance Holdings announced that its subsidiaries, UPCIC and APPCIC, have completed their 2024-2025 reinsurance program. The program, effective June 1, 2024, replaces $217M of cost-free RAP coverage and $150M of expiring catastrophe bond coverage. The total cost is approximately 33.0% of the estimated direct earned premium, a 1.2-point increase from last year. The largest reinsurance participants maintain an 'A' rating or higher from AM Best. The program includes additional multi-year coverage for the 2025-2026 period. Additionally, UPCIC’s in-force wind-covered policy count in Florida has declined by 25,266 as of March 31, 2024.
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