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. (NYSE: UVE) is a property and casualty insurance holding company focused on personal residential homeowners lines of business. Through its primary insurance subsidiaries, Universal Property & Casualty Insurance Company (UPCIC) and American Platinum Property and Casualty Insurance Company (APPCIC), the company provides insurance for homeowners, renters/tenants, condo unit owners and other related personal residential coverages in the United States, primarily in Florida.
This UVE news page highlights the company’s ongoing public announcements and financial updates. Readers can follow quarterly earnings releases that detail metrics such as direct premiums written, net premiums earned, loss and expense ratios, combined ratio, net income and adjusted net income. These releases also discuss trends in policies in force, growth in states outside Florida, and the impact of weather-related events and legislative changes on underwriting performance.
News for Universal Insurance Holdings also covers its catastrophe reinsurance programs arranged through UPCIC and APPCIC. The company announces the completion of annual reinsurance renewals, describing the structure of its combined reinsurance tower, multi-year catastrophe capacity, participation from private reinsurers and interaction with the Florida Hurricane Catastrophe Fund. These updates provide insight into how Universal manages hurricane and catastrophe risk across its multi-state footprint.
In addition, UVE news items include Board actions on capital management, such as authorizations of share repurchase programs and declarations of regular and special cash dividends on common stock. The company also issues press releases announcing upcoming earnings release dates and investor conference calls. Investors and observers can use this news feed to monitor Universal’s operating performance, reinsurance strategy and capital deployment over time.
Universal Insurance Holdings, Inc. (NYSE: UVE) will report its Q2 2022 results on July 27, 2022, after market close. A conference call to discuss these results is scheduled for July 28, 2022, at 10:00 a.m. ET. Interested parties can listen to the call via an online webcast or register for a dial-in option. Universal specializes in property and casualty insurance, focusing primarily on personal residential homeowners products, and operates across 19 states, mainly in Florida.
Universal Insurance Holdings, Inc. (NYSE: UVE) announced the completion of its 2022-2023 reinsurance programs for its subsidiaries, UPCIC and APPCIC, effective June 1, 2022. The company secured more catastrophe capacity than ever before amid a challenging market. The total cost of reinsurance is projected at $696 million, reflecting 37.6% of estimated direct premiums, slightly higher than last year. Policies-in-force in Florida declined by 7%, while premiums increased by 11%. The company also arranged multi-year catastrophe capacity of $383 million.
Universal Insurance Holdings (NYSE: UVE) reported its Q1 2022 results, with diluted GAAP EPS at $0.56 and non-GAAP adjusted EPS at $0.64. The company achieved a 16.9% annualized ROE and direct premiums written rose to $396.5 million, up 8.5% year-over-year. Despite these increases, net income decreased by 33.6% to $17.5 million due to a higher combined ratio of 97.9%. The firm repurchased 320,528 shares totaling $3.9 million and returned $8.9 million to shareholders, including a quarterly dividend of $0.16 per share. The company maintains its 2022 guidance for EPS between $1.80 - $2.20.
Universal Insurance Holdings, Inc. (NYSE: UVE) has declared a quarterly cash dividend of 16 cents per share, payable on May 20, 2022, to shareholders on record as of May 13, 2022. This decision reflects the company's ongoing commitment to returning value to shareholders. Universal specializes in property and casualty insurance, primarily focusing on the residential homeowners market in Florida and across 19 states in the U.S.
Universal Insurance Holdings, Inc. (NYSE: UVE) will release its first quarter 2022 financial results after NYSE trading on April 28, 2022. A conference call is scheduled for April 29, 2022, at 10:00 a.m. ET, to discuss these results. Investors can dial in at (855) 752-6647 for U.S. participants and (503) 343-6667 internationally, using participant code 9789558. The call will also be available via a live webcast on the company's investor website and will be replayable until May 14, 2022.
Universal Insurance Holdings (NYSE: UVE) has appointed Arash Soleimani as Chief Strategy Officer and promoted Rob Luther to Chief Investment Officer, along with Gary Ropiecki as Principal Accounting Officer. Soleimani will lead strategy and investor relations, while Luther will manage the $1B+ investment portfolio. Ropiecki will oversee enterprise-wide accounting functions. CEO Steve Donaghy emphasized the importance of these appointments for the company's strategic objectives and long-term success.
Universal Insurance Holdings (NYSE: UVE) reported a significant increase in direct premiums for 4Q21, up 11.5%, and FY21, up 14.4%, primarily due to rate increases. However, 4Q21 GAAP diluted EPS was $(1.54), reflecting inflationary pressures. The company achieved approximately $1.7 billion in premiums in force and a return on average equity of 4.6%. Clovered.com, a subsidiary, surpassed $40 million in placed premiums in 2021. The company has initiated guidance for FY22 with projected EPS between $1.80 and $2.20.
Universal Insurance Holdings (UVE) will release its fourth-quarter results on February 24, 2022, after NYSE trading ends. A conference call will follow on February 25, 2022, at 9:00 a.m. ET, to discuss financial results. Investors can dial in or listen via a webcast at UniversalInsuranceHoldings.com. A replay will be available until March 12, 2022. UVE primarily offers property and casualty insurance services across 19 states, focusing on personal residential homeowners' lines.
Universal Insurance Holdings (NYSE: UVE) has declared a quarterly cash dividend of 16 cents per share, payable on March 17, 2022, to shareholders of record by March 10, 2022. The company faced inflationary pressures, leading to a conservative reserve strategy that included an estimated $30.7 million strengthening of reserves for the 2021 accident year. Overall, the fourth quarter is expected to impact net income by approximately $80.1 million after-tax, impacting the full-year combined ratio significantly.
Universal Insurance Holdings (NYSE: UVE) has joined the U.S. Environmental Protection Agency’s Green Power Partnership, committing to use 652,000 kilowatt-hours of green power annually, equating to 25% of its electricity consumption. This initiative aims to advance the green power market while reducing air pollution and greenhouse gas emissions. CEO Stephen Donaghy emphasized the importance of green power as an affordable choice for organizations. The EPA praised UVE's leadership, acknowledging its green power usage reduces emissions equivalent to 1,161,251 vehicle miles or 510,708 pounds of coal burned.