Universal Insurance Holdings, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2023
April 27, 2023 at 04:05 pm
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Universal Insurance Holdings, Inc. reported earnings results for the first quarter ended March 31, 2023. For the first quarter, the company reported revenue was USD 316.51 million compared to USD 287.48 million a year ago. Net income was USD 24.17 million compared to USD 17.54 million a year ago.
Basic earnings per share from continuing operations was USD 0.8 compared to USD 0.56 a year ago. Diluted earnings per share from continuing operations was USD 0.79 compared to USD 0.56 a year ago.
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.