Universal Insurance cedes $109.2mn prior-year losses in Q2
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Universal Insurance cedes $109.2mn prior-year losses in Q2

Alex Frampton
29 July 2021
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Universal Insurance Holdings ceded $109.2mn of prior-year losses to reinsurers in Q2, up nearly 900% on the year-ago figure of just $11.1mn, as the firm’s CFO Frank Wilcox said there had been adverse development on losses from hurricanes Irma, Sally, Michael and to a lesser extent, Matthew.

On the firm’s earnings call, he noted that net development on Michael and Sally losses was negligible because of the reinsurance programme’s structure and a reduction to the original retained loss.

On

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Alex Frampton
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