Universal Insurance Q2 EPS $0.93; direct premiums up 2.7% to $547.1M; combined ratio improves to 99.1%

UNIVERSAL INSURANCE HOLDINGS, INC.

2023-Q2 EPS reported $1.72 revenue$656,078,000

Diluted EPS $0.93 ($0.87 adjusted); net combined ratio 99.1%, down 1.8 pts YoY.
Direct premiums written $547.1M, up 2.7% from prior-year quarter.
Book value per share $11.12, up 17.4% vs Q4 2022; adjusted book value $14.31, up 11.0%.
Repurchased ~396k shares for $6.1M; total capital returned to shareholders $11.1M including $0.16 quarterly dividend.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

UNIVERSAL INSURANCE HOLDINGS, INC. reported fiscal quarter ended June 30, 2023 results: revenue $547.1 million, EPS Diluted earnings per common share of $0.93.

Period: fiscal quarter ended June 30, 2023
Revenue: $547.1 million
EPS: Diluted earnings per common share of $0.93
Result: reported results

Exact text from the filing

Universal Reports Second Quarter 2023 Results • Diluted earnings per common share of $0.93; diluted adjusted* earnings per common share of $0.87 • Annualized return on average common equity (“ROCE”) of 34.8%, annualized adjusted* return on average common equity of 25.3% • Direct premiums written of $547.1 million, up 2.7% from the prior year quarter • Net combined ratio of 99.1%, down 1.8 points from the prior year quarter • Book value per share of $11.12, up 17.4% from fourth quarter 2022; adjusted book value per share of $14.31, up 11.0% from fourth quarter 2022 • Repurchased approximately 396 thousand shares for $6.1 million. Total capital returned to shareholders of $11.1 million, including $0.16 per share regular quarterly dividend

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Source: SEC EDGAR

accession 0000891166-23-000082

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