Business UpdateMay 28, 2026, 04:24 PM
Universal Insurance Completes $2.623B Reinsurance Program
AI Summary
Universal Insurance Holdings, Inc. announced that its subsidiaries, Universal Property & Casualty Insurance Company and American Platinum Property and Casualty Insurance Company, have completed their combined 2026-2027 reinsurance program, effective June 1, 2026. The program includes a first event All States retention of $45 million and extends the first event tower to $2.623 billion. The company also secured $352 million in multi-year catastrophe capacity, with $277 million sitting below the FHCF layer, citing moderating market conditions and stabilized Florida property insurance reforms.
Key Highlights
- Completed 2026-2027 reinsurance program for UPCIC and APPCIC, effective June 1, 2026.
- First event All States retention remains $45 million.
- All States first event tower extends to $2.623 billion, an increase of $50 million.
- Secured $352 million of multi-year catastrophe capacity extending through 2027-2028.
- $277 million of multi-year capacity sits below the FHCF layer.
- Largest private reinsurance participants maintain AM Best ratings of 'A' or higher.
- Florida represents less than 50% of total insured value as of March 31, 2026.
Price Impact
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