Universal Insurance Holdings Announces Third Quarter-to-Date Estimated Catastrophe Losses
Universal Insurance Holdings (NYSE: UVE) (the “Company”) today
announced third quarter-to-date estimated catastrophe losses
resulting in full retention events for Hurricane Isaias ($15
million, pre-tax, Other States program) and Hurricane Sally ($43
million, pre-tax, All States program). These events resulted in a
total net impact of approximately $58 million, pre-tax
(approximately $44 million, after-tax).
About Universal Insurance Holdings, Inc.
Universal Insurance Holdings (UVE) is a holding company offering
property and casualty insurance and value-added insurance services.
We develop, market, and write insurance products for consumers
predominantly in the personal residential homeowners lines of
business and perform substantially all other insurance-related
services for our primary insurance entities, including risk
management, claims management and distribution. We sell insurance
products through both our appointed independent agents and through
our direct online distribution channels in the United States across
18 states (primarily Florida). Learn more at
This press release may contain “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995. The words “believe,” “expect,” “anticipate,” “will,”
“plan,” and similar expressions identify forward-looking
statements, which speak only as of the date the statement was made.
Such statements may include commentary on plans, products and lines
of business, marketing arrangements, reinsurance programs and other
business developments and assumptions relating to the foregoing.
Forward-looking statements are inherently subject to risks and
uncertainties, some of which cannot be predicted or quantified,
including the ongoing impact of the coronavirus (COVID-19) pandemic
and those risks and uncertainties to be described under the heading
“risk factors” and “Liquidity and Capital Resources” in our
Quarterly Report on Form 10-Q for the quarter ended March 31, 2020
as well as in the Form 8-K filed on April 27, 2020. Future results
could differ materially from those described, and the Company
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise. For further information regarding risk
factors that could affect the Company’s operations and future
results, refer to the Company’s reports filed with the Securities
and Exchange Commission, including the Company’s Annual Report on
Form 10-K and the most recent quarterly reports on Form 10-Q.
version on businesswire.com: https://www.businesswire.com/news/home/20200923005864/en/
Investor Relations Contact: Rob Luther, 954-958-1200 ext.
6750 VP, Corporate Development, Strategy & IR
Media Relations Contact: Andy Brimmer / Mahmoud Siddig,
212-355-4449 Joele Frank, Wilkinson Brimmer Katcher