Universal Insurance Holdings reported a solid start to 2020 with first quarter results showing an annualized return on average equity of 16.1%. Direct premiums written were up 15.7% to $334.6 million. The company is well-positioned with a debt-to-equity ratio less than 2.0% and is accruing more reserves than at any point in its history.
Direct premiums written increased by 15.7% to $334.6 million.
Other states (non-Florida) direct premiums written increased by 19.0%.
Diluted GAAP earnings per share were $0.61, and non-GAAP adjusted EPS was $0.79.
The combined ratio was 94.1%.
The company believes they remain well positioned for 2020 and remain resolute in serving their consumers and creating value for their stakeholders.
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