Florida’s Universal sees $80.1mn in Q4 costs, sending stock to lowest point in eight years
  • X
  • LinkedIn
  • Show more sharing options
  • Copy Link URLCopied!
  • Print
  • X
  • LinkedIn
© 2024 Insider International Limited, company number 15236286, 4 Bouverie Street, London, EC4Y 8AX. Part of the Delinian Group. All rights reserved.

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement
Cookies Settings

Florida’s Universal sees $80.1mn in Q4 costs, sending stock to lowest point in eight years

Eileen AJ Connelly
February 11, 2022
  • X
  • LinkedIn
  • Show more sharing options
  • Copy Link URLCopied!
  • Print
  • X
  • LinkedIn
Universal Insurance Holdings logo Fort Lauderdale FL.jpg

Shares of Universal Insurance Holdings plunged 27% on Friday after the Florida company said it expects $80.1mn in costs for the fourth quarter due to adverse development and reserve strengthening. 

The Fort Lauderdale-based homeowners’ provider said it strengthened its reserves by $30.7mn on an after-tax basis and added $21.5mn

Enter your e-mail to claim a free trial:

Uncover exclusive insights tailored for insurance leaders

    • Stay Informed: Access exclusive industry insights
    • Gain a competitive advantage: Hear first about tactical developments
    • Make better decisions: Understand market dynamics in crucial lines of business
Take a free trial Already a subscriber? Login now

Topics

NewsFloridiansMajor lossesUniversal
Eileen Connelly.png
Eileen AJ Connelly
Contributing Editor
Gift this article