Universal Insurance completes 2024-2025 reinsurance program; cost rises to 33% of premium

UNIVERSAL INSURANCE HOLDINGS, INC.

Combined first event retention unchanged at $45M; total tower of $2.404B for single All States event.
Total reinsurance cost projected at ~33% of direct earned premium, up from 31.8% last year.
Replaced $217M of cost-free RAP coverage and $150M expiring cat bond with traditional market capacity.
Secured $240M of multi-year capacity extending to 2025-2026, including $165M below FHCF layer.
Largest private reinsurers rated A or higher; key partners include Nephila, Markel, RenaissanceRe, Munich Re.

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