Universal Insurance Holdings, a homeowners insurer focused on Florida, reported net income of $52.5 million for the third quarter of 2026 on 22 October, against $39.8 million a year earlier. Diluted earnings per share rose to $1.80 from $1.38, and total revenue increased 9.6% to $439.3 million.
The net combined ratio improved to 91.0% from 96.4%. The net loss ratio fell to 64.6% from 70.2%, which the company attributes mainly to a lower ceded premium ratio, and the expense ratio rose slightly to 26.4% from 26.2%. The release does not state catastrophe losses or prior-year reserve development for the quarter.
Direct premiums written grew 2.7% to $608.9 million. Florida premiums fell 3.3% to $414.4 million, while premiums in other states rose 18.5% to $194.5 million. Policies in force increased 7.9% to 953,611. Net premiums earned rose 12.1% to $403.2 million; the company links this mainly to higher direct premiums earned, up 4.2% to $556.7 million, and to a ceded premium ratio of 27.6%, down from 32.7%. It says the lower ceded ratio mainly reflects a new reinsurance programme that began on 1 June 2026.
Hurricane Isaias made landfall near Destin in the western Florida Panhandle as a Category 2 storm after the quarter ended. Chief executive Stephen Donaghy said claims activity “has been less significant than initially anticipated”. Book value per share rose 32.4% to $23.37, and the company bought back about 174,000 shares for $7.4 million during the quarter.
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Universal Insurance Holdings ↗Company · 22 Oct 2026
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