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Dec 31, 2021
Universal Insurance Q4 2021 Earnings Report
Reported fourth quarter and full year 2021 results.
Key Takeaways
Universal Insurance Holdings reported a 7.2% increase in total revenue for the quarter and a 4.6% increase for the year, driven by growth in net premiums earned from primary rate increases. However, GAAP diluted EPS and non-GAAP adjusted EPS were predominantly impacted by strengthening of reserves due to inflationary trends and a reduction in realized gains on the investment portfolio.
4Q21 direct premiums earned up 11.5%, driven by primary rate increases.
FY21 direct premiums earned up 14.4% driven by primary rate increases
4Q21 diluted GAAP earnings per share (EPS) of $(1.54), non-GAAP adjusted EPS1 of $(1.53) predominantly driven by inflationary trends.
Clovered.com, digital agency subsidiary, surpassed $40 million in placed premiums in 2021.
Revenue by Geographic Location
Forward Guidance
Universal initiated the following guidance for fiscal 2022:
Positive Outlook
- GAAP and Non-GAAP Adjusted EPS in a range of $1.80 - $2.20 (assuming no extraordinary weather events in 2022)
- Annualized return on average equity in a range of 12.5% - 15.0%
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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