secwatch.observer — SEC 8-K summary
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Issuer:     UNIVERSAL INSURANCE HOLDINGS, INC. (UVE)
CIK:        0000891166
Form:       8-K
Filed at:   2024-05-30T23:59:59+00:00
Accession:  0000891166-24-000030
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/891166/000089116624000030/0000891166-24-000030-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/891166/000089116624000030/uve-20240530.htm
  HTML page:      https://secwatch.observer/filing/0000891166-24-000030

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