Universal Insurance Holdings, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 22, 2024 at 04:10 pm EST
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Universal Insurance Holdings, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported revenue was USD 375.46 million compared to USD 330.36 million a year ago. Net income was USD 20 million compared to USD 25.11 million a year ago. Basic earnings per share from continuing operations was USD 0.69 compared to USD 0.83 a year ago. Diluted earnings per share from continuing operations was USD 0.68 compared to USD 0.82 a year ago.
For the full year, revenue was USD 1,391.58 million compared to USD 1,222.66 million a year ago. Net income was USD 66.82 million compared to net loss of USD 22.26 million a year ago. Basic earnings per share from continuing operations was USD 2.24 compared to basic loss per share from continuing operations of USD 0.72 a year ago. Diluted earnings per share from continuing operations was USD 2.22 compared to diluted loss per share from continuing operations of USD 0.72 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.
UNIVERSAL INSURANCE HOLDINGS, INC. 
