Universal Insurance Holdings, Inc. Insurance Subsidiaries Complete 2018-2019 Reinsurance Programs
"We are pleased with the completion and outcome of the 2018-2019 reinsurance programs for both of our insurance companies," said
"UPCIC maintained the same
"UPCIC expanded the top of its reinsurance tower for a single
"To further insulate itself for future years, UPCIC has also now successfully secured over
"APPCIC was also able to continue the conservatism trend by reducing the overall percentage of premium spent on reinsurance, while maintaining the same
"In completing the 2018 renewal cycle, it is clear that our panel of leading reinsurance partners is eager to partner with companies like Universal, who are financially stable, have a strong infrastructure and can efficiently handle a large volume of claims from a major catastrophe. The continued support of these partners has helped put us in the strongest position in our company's history as we enter the 2018 hurricane season."
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Forward-Looking Statements and Risk Factors
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate," and similar expressions identify forward-looking statements, which speak only as of the date the statement was made. Such statements may include commentary on plans, products and lines of business, marketing arrangements, reinsurance programs and other business developments and assumptions relating to the foregoing. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future results could differ materially from those described, and the Company undertakes no obligation to correct or update any forward-looking statements. For further information regarding risk factors that could affect the Company's operations and future results, refer to the Company's reports filed with the
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Dean Evans |
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