Universal Insurance Q2 EPS $2.04, revenue up 6.7%; combined ratio improves to 91.6%

UNIVERSAL INSURANCE HOLDINGS, INC.

Diluted GAAP EPS of $2.04 vs $1.21 prior year; adjusted EPS $1.84 vs $1.23.
Total revenues $427M, up 6.7%; net premiums earned $377.3M, up 4.7%.
Net loss ratio improved 7.5 pts to 64.8%; combined ratio 91.6% vs 97.8%.
Direct premiums written $621.3M, up 4.1%; policies in force up 7.1% to 934k.
Book value per share $22.89, up 39.7% YoY; quarterly dividend $0.16/share declared.

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