© Reuters.
Universal Insurance Holdings (ticker: NYSE:) reported their fourth quarter earnings, highlighting a period of transformation and adaptation to new legislative changes. The company closed the quarter with double-digit adjusted returns on common equity and has already secured 90% of its 2024-2025 reinsurance tower.
Despite a decrease in adjusted diluted earnings per share from the prior year, the company saw an increase in core revenue, driven primarily by higher net premiums earned and investment income. The earnings call also discussed the impact of recent Florida legislation on claims trends and the company’s strategic positioning for future growth.
Key Takeaways
- Universal Insurance reports double-digit adjusted returns on common equity for the fourth quarter.
- Adjusted diluted earnings per share decreased to $0.43 from $0.72 in the prior year’s quarter.
- Core revenue…
