Universal Insurance Holdings Announces Third Quarter-To-Date Estimated Catastrophe Losses
September 24, 2020 at 01:45 am IST
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Universal Insurance Holdings 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).
Universal Insurance Holdings, Inc. is a holding company that offers property and casualty insurance and value-added insurance services. It develops, markets, and underwrites insurance products for consumers in the personal residential homeownerâs lines of business and other insurance-related services for its insurance entities, including risk management, claims management, and distribution. Its primary insurance entities include Universal Property & Casualty Insurance Company (UPCIC) and American Platinum Property and Casualty Insurance Company. UPCIC distributes policies through its independent agency force and offers various types of personal residential insurance, such as homeowners, renters/tenants, condo unit owners, and dwelling/fire. It also offers allied lines, coverage for other structures, and personal property, liability, and personal articles coverages. Through its subsidiary, Evolution Risk Advisors, Inc., it advises on actuarial issues and administers claims payments.
UNIVERSAL INSURANCE HOLDINGS, INC. 
