Financial Performance - Total revenues for the period increased by 12.0% to $380.2 million, up from $339.6 million, driven by a 13.7% increase in net earned premiums to $345.0 million[41]. - Net income for the period was $35.4 million, representing a 24.0% increase compared to $28.6 million in the prior year[41]. - For the six months ended June 30, 2024, net income was $69,073,000, up from $52,739,000 in 2023, indicating a 30.9% growth[150]. - Net income for the three months ended June 30, 2024, was $35,416,000, compared to $28,566,000 for the same period in 2023, representing a 24.8% increase[150]. - Diluted earnings per share increased to $2.35 for the six months ended June 30, 2024, up 36.6% from $1.72 in the prior year[105]. Premiums and Policies - For the three months ended June 30, 2024, Florida represented 79.7% of the company's direct premiums written, totaling $578.3 million, an increase of 5.7% from $547.1 million in the previous period[25][41]. - Direct premiums written increased by $67.2 million, or 7.0%, for the six months ended June 30, 2024, driven by premium growth in Florida and other states[95]. - The number of policies-in-force increased by 23,748, or 2.9%, to 833,433 as of June 30, 2024, compared to the same date in 2023[78]. - For the six months ended June 30, 2024, direct premium earned increased by $54.0 million, or 5.9%, reflecting the earning of premiums written over the past 12 months[72]. Expenses and Costs - The company's loss and loss adjustment expenses rose by 8.9% to $243.6 million, reflecting ongoing challenges in the Florida market[41]. - General and administrative expenses increased to $87.1 million for the three months ended June 30, 2024, compared to $76.7 million during the same period in 2023[67]. - Total operating costs and expenses increased to $649.5 million, an 11.5% rise from $582.5 million in the prior year[105]. - The total costs for reinsurance as a percentage of direct earned premium increased to 33.0%, compared to approximately 31.8% in the previous contract period[79]. Investment Income - The company reported a net investment income of $14.7 million, a significant increase of 29.9% from $11.3 million in the previous period[41]. - Net investment income rose to $28.2 million for the six months ended June 30, 2024, an increase of 28.2% compared to the prior year[95]. - The total investment income for the six months ended June 30, 2024, was $29.375 million, up from $23.138 million in the same period of 2023[192]. Shareholder Returns - The company declared dividends of $0.16 per common share and $0.25 per preferred share, totaling $4,771 thousand for the quarter ended June 30, 2024[113]. - The company has maintained a consistent dividend policy, reflecting its commitment to returning value to shareholders[113]. Market and Operational Focus - The company operates in 18 states as of June 30, 2024, with a primary focus on residential homeowners' insurance, particularly in Florida[159]. - The company continues to focus on enhancing its operational efficiency and expanding its market presence through strategic investments and product development[113]. Legal and Compliance - The company has established significant in-house legal services to address the high volume of litigated claims as cost-effectively as possible[46]. - The Company issued $100 million of 5.625% Senior Unsecured Notes due 2026, and as of June 30, 2024, it was in compliance with all financial covenants[211]. - The Company entered into a $50 million revolving credit line with JP Morgan Chase Bank, with no amounts borrowed as of June 30, 2024[213]. Assets and Liabilities - Total assets as of June 30, 2024, amounted to $2,678,535,000, an increase from $2,316,561,000 as of December 31, 2023, reflecting a 15.7% rise[148]. - Total liabilities increased to $2,285,298,000 as of June 30, 2024, compared to $1,975,264,000 at the end of 2023, marking a 15.7% increase[148]. - The company’s total stockholders' equity increased to $393,237,000 as of June 30, 2024, from $341,297,000 at the end of 2023, reflecting a 15.2% growth[148].

Financial Data and Key Metrics Changes - The company reported a 30.5% annualized adjusted return on common equity and a 35.6% growth in adjusted diluted earnings per share year-over-year [6] - Adjusted diluted earnings per common share increased to $1.18 from $0.87 in the prior year quarter, driven by higher underwriting and net investment income [8] - Core revenue reached $379.2 million, up 12.5% year-over-year, primarily due to higher net premiums earned and net investment income [8] Business Line Data and Key Metrics Changes - Direct premiums written were $578.3 million, reflecting a 5.7% increase from the prior year quarter, with 0.9% growth in Florida and 30.1% growth in other states [9] - Direct premiums earned increased to $490.6 million, up 5.9% from the prior year quarter [9] - Net premiums earned rose to $345 million, a 13.7% increase year-over-year, attributed to higher direct premiums earned and a lower ceded premium ratio [10] Market Data and Key Metrics Changes - The net combined ratio improved to 95.9%, down 3.2 points compared to the prior year quarter, indicating better underwriting performance [10] - The net loss ratio decreased to 70.6%, down 3.2 points year-over-year, primarily due to higher net premiums earned and lower reinsurance costs [11] Company Strategy and Development Direction - The company completed its 2024-2025 reinsurance renewal with positive outcomes and support from both long-standing and new reinsurance partners [7] - Management expressed optimism regarding the impacts of tort reform in Florida, indicating a positive outlook for future share repurchases and overall market position [16][23] Management's Comments on Operating Environment and Future Outlook - Management noted encouraging claims and litigation trends, leading to a positive outlook for the company's performance [6] - The company is currently analyzing rates with actuaries to assess the impact of tort reform on future pricing strategies [22][23] Other Important Information - The company repurchased approximately 274,000 shares at a cost of $5.3 million, with $14.7 million remaining in the share repurchase authorization program [12] - A quarterly cash dividend of $0.16 per share was declared, payable on August 9, 2024 [12] Q&A Session Summary Question: Impact of tort reform in Florida - Management continues to see positive impacts from the December 2022 legislation, leading to an optimistic outlook for the company's position and share repurchases [16] Question: Movement in reserves development - There was zero net development in reserves during the quarter [17] Question: Catastrophe losses and weather conditions - Weather-related losses were well contained within the company's loss expectations for the quarter [20] Question: Industry competition and rate pressures - Management is not experiencing pressure regarding rates and is optimistic about the market's future, focusing on rate adequacy and strong agency relationships [22][23]

Universal Insurance Holdings (UVE) came out with quarterly earnings of $1.18 per share, beating the Zacks Consensus Estimate of $1.15 per share. This compares to earnings of $0.87 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 2.61%. A quarter ago, it was expected that this property and casualty insurance company would post earnings of $1.04 per share when it actually produced earnings of $1.07, delivering a surprise of 2.88 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ________________________________________________________ FORM 10-Q ________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number ...

Universal Insurance Holdings, Inc. (NYSE:UVE) Q1 2024 Earnings Conference Call April 26, 2024 10:00 AM ET Company Participants Arash Soleimani - Chief Strategy Officer Steve Donaghy - Chief Executive Officer Frank Wilcox - Chief Financial Officer Conference Call Participants Paul Newsome - Piper Sandler Nic Iacoviello - Dowling Operator Good morning, ladies and gentlemen, and welcome to Universal First Quarter 2024 Earnings Conference Call. As a reminder, this conference call is being recorded. I would now ...

Exhibit 99.1 Universal Reports First Quarter 2024 Results Reconciliations of GAAP to non-GAAP financial measures are provided in the attached tables. Fort Lauderdale, Fla., April 25, 2024 – Universal Insurance Holdings (NYSE: UVE) ("Universal" or the "Company") reported first quarter 2024 results. "It was a strong quarter, including a 29.4% annualized adjusted return on common equity and 35.4% adjusted diluted EPS growth year-over-year," said Stephen J. Donaghy, Chief Executive Officer. "Results were solid ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ________________________________________________________ FORM 10-K ________________________________________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-33251 UNIVERSAL INS ...

Universal Insurance Holdings, Inc. (NYSE:UVE) Q4 2023 Earnings Conference Call February 23, 2024 10:00 AM ET Corporate Participants Arash Soleimani - Chief Strategy Officer Steve Donaghy - Chief Executive Officer Frank Wilcox - Chief Financial Officer Conference Call Participants Paul Newsome - Piper Sandler Nicolas Iacoviello - Dowling & Partners Operator Good morning, ladies and gentlemen, and welcome to Universal's Fourth Quarter 2023 Earnings Conference Call. As a reminder this conference call is being ...

Exhibit 99.1 Universal Reports Fourth Quarter 2023 Results * Reconciliations of GAAP to non-GAAP financial measures are provided in the attached tables. Fort Lauderdale, Fla., February 22, 2024 – Universal Insurance Holdings (NYSE: UVE) ("Universal" or the "Company") reported fourth quarter and full year 2023 results. "We closed out both the fourth quarter and full year with double-digit adjusted returns on common equity and I believe that even stronger results are firmly in our future," said Stephen J. Don ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ________________________________________________________ FORM 10-Q ________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Numbe ...