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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
 FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): October 24, 2024
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Universal Insurance Holdings, Inc.
(Exact name of registrant as specified in its charter)
Delaware 001-33251 65-0231984
(State or other jurisdiction
of incorporation)		 (Commission
File Number)		 (IRS Employer
Identification No.)
1110 W. Commercial Blvd., Fort Lauderdale, Florida 33309
(Address of Principal Executive Offices) (Zip Code)
Registrant’s telephone number, including area code: (954) 958-1200
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: 
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $0.01 Par ValueUVENew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company  ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐


Item 2.02Results of Operations and Financial Condition
On October 24, 2024, Universal Insurance Holdings, Inc. issued a press release announcing its financial results for the fiscal quarter ended September 30, 2024. A copy of the press release is attached hereto as Exhibit 99.1.
The information in this Current Report on Form 8-K, including Exhibit 99.1 hereto, is being furnished to the Securities and Exchange Commission and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01Financial Statements and Exhibits
(d) Exhibits:
 
Exhibit NumberDescription
104
The cover page from this Current Report on Form 8-K formatted in Inline XBRL (included as Exhibit 101).





SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
Date: October 24, 2024UNIVERSAL INSURANCE HOLDINGS, INC.
By:/s/ Frank C. Wilcox
Name:Frank C. Wilcox
Title:Chief Financial Officer


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Exhibit 99.1
Universal Reports Third Quarter 2024 Results

•Loss per common share of $0.57; adjusted* loss per common share of $0.73
•Direct premiums written of $574.4 million, up 8.0% from the prior year quarter
•Book value per share of $14.15, up 37.0% year-over-year; adjusted book value per share of $15.76, up 12.6% year-over-year
•Total capital returned to shareholders of $9.1 million, including $4.4 million of share repurchases and a $0.16 per share regular dividend
*Reconciliations of GAAP to non-GAAP financial measures are provided in the attached tables.

Fort Lauderdale, Fla., October 24, 2024 – Universal Insurance Holdings (NYSE: UVE) (“Universal” or the “Company”) reported third quarter 2024 results.

“Our hearts and thoughts go out to those impacted by recent disasters, including Hurricanes Debbie and Helene in the third quarter and Hurricane Milton in the fourth quarter,” said Stephen J. Donaghy, Chief Executive Officer. “We’ve been through many hurricanes in our nearly three-decade history, arming us with the requisite experience to quickly and efficiently get policyholders back on their feet. Our substantial reinsurance protection and the strong reinsurance relationships that we’ve built over many years provide us with the financial resilience to weather both high frequency and high severity storm seasons. As we’ve previously disclosed, our consolidated retention drops for subsequent events and we expect a smaller financial impact from weather in the fourth quarter, inclusive of Hurricane Milton. Non-catastrophe underwriting trends continue to improve and we’re highly encouraged as we look ahead.

On a separate note, we opened for business in Wisconsin at the beginning of the month, our 19th state. We’re excited to offer our insurance products there, as we continue to expand to new markets, diversifying our book of business and growing our addressable market.”
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Quarterly Financial Results

Summary Financial Results
($thousands, except per share data)
Three Months Ended September 30,
Nine Months Ended September 30,
20242023Change
2024
2023Change
GAAP comparison
Total revenues$387,554 $360,048 7.6 %$1,135,727 $1,016,126 11.8 %
Operating income (loss)
$(16,504)$(6,246)164.2 %$82,130 $67,349 21.9 %
Operating income (loss) margin
(4.3)%(1.7)%(2.6)pts7.2 %6.6 %0.6 pts
Net income (loss) available to common stockholders
$(16,166)$(5,918)173.2 %$52,902 $46,816 13.0 %
Diluted earnings (loss) per common share
$(0.57)$(0.20)185.0 %$1.80 $1.54 16.9 %
Annualized ROCE(16.3)%(7.4)%(8.9) pts19.0 %21.2 %(2.2)pts
Book value per share, end of period$14.15 $10.33 37.0 %$14.15 $10.33 37.0 %
Non-GAAP comparison1
Core revenue$381,401 $361,764 5.4 %$1,125,501 $1,015,060 10.9 %
Adjusted operating income (loss)
$(22,657)$(4,530)400.2 %$71,904 $66,283 8.5 %
Adjusted operating income (loss) margin
(5.9)%(1.3)%(4.6) pts6.4 %6.5 %(0.1)pts
Adjusted net income (loss) available to common stockholders
$(20,805)$(4,624)349.9 %$45,192 $46,012 (1.8)%
Adjusted diluted earnings (loss) per common share
$(0.73)$(0.16)356.3 %$1.54 $1.51 2.0 %
Annualized adjusted ROCE(18.3)%(4.4)%(13.9) pts14.1 %15.4 %(1.3) pts
Adjusted book value per share, end of period$15.76 $14.00 12.6 %$15.76 $14.00 12.6 %
Underwriting Summary
Premiums:
Premiums in force$2,046,310 $1,914,493 6.9 %$2,046,310 $1,914,493 6.9 %
Policies in force844,539 807,553 4.6 %844,539 807,553 4.6 %
Direct premiums written$574,351 $531,988 8.0 %$1,598,797 $1,489,216 7.4 %
Direct premiums earned$507,745 $474,311 7.0 %$1,480,466 $1,393,003 6.3 %
Ceded premiums earned$(162,009)$(143,271)13.1 %$(455,747)$(476,465)(4.3)%
Ceded premium ratio31.9 %30.2 %1.7  pts30.8 %34.2 %(3.4) pts
Net premiums earned$345,736 $331,040 4.4 %$1,024,719 $916,538 11.8 %
Net ratios:
Loss ratio91.7 %87.0 %4.7  pts78.1 %78.3 %(0.2) pts
Expense ratio25.2 %23.7 %1.5  pts24.7 %25.2 %(0.5) pts
Combined ratio116.9 %110.7 %6.2  pts102.8 %103.5 %(0.7) pts
1 Reconciliation of GAAP to non-GAAP financial measures are provided in the attached tables. Adjusted net income (loss) available to common stockholders, adjusted diluted earnings (loss) per common share and core revenue exclude net realized gains (losses) on investments and net change in unrealized gains (losses) on investments. Adjusted operating income (loss) excludes the items above and interest and amortization of debt issuance costs. Adjusted book value per share excludes accumulated other comprehensive income (loss), net of taxes. Adjusted ROCE is calculated by dividing annualized adjusted net income (loss) available to common stockholders by average adjusted book value per share, with the denominator further excluding current period after-tax net realized gains (losses) on investments and net change in unrealized gains (losses) on investments.
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Net Loss and Adjusted Net Loss
Net loss available to common stockholders was $16.2 million, compared to a net loss of $5.9 million in the prior year quarter, and adjusted net loss available to common stockholders was $20.8 million, compared to an adjusted net loss of $4.6 million in the prior year quarter. The higher adjusted net loss available to common stockholders mostly stems from lower underwriting income, partly offset by higher net investment income and commission revenue.

Revenues
Revenue was $387.6 million, up 7.6% from the prior year quarter and core revenue was $381.4 million, up 5.4% from the prior year quarter. The increase in core revenue primarily stems from higher net premiums earned, net investment income and commission revenue.

Direct premiums written were $574.4 million, up 8.0% from the prior year quarter. The increase stems from 2.1% growth in Florida and 32.9% growth in other states. Overall growth mostly reflects higher policies in force, higher rates and inflation adjustments.

Direct premiums earned were $507.7 million, up 7.0% from the prior year quarter. The increase stems from direct premiums written growth over the past twelve months.

The ceded premium ratio was 31.9%, up from 30.2% in the prior year quarter. The increase primarily reflects replacement of the Reinsurance to Assist Policyholders (RAP) layer, which was provided by the state of Florida, with private market coverage.

Net premiums earned were $345.7 million, up 4.4% from the prior year quarter. The increase is primarily attributable to higher direct premiums earned, partly offset by a higher ceded premium ratio, as described above.

Net investment income was $15.4 million, up from $12.8 million in the prior year quarter. The increase primarily stems from higher fixed income reinvestment yields and higher invested assets.

Commissions, policy fees and other revenue were $20.3 million, up 12.7% from the prior year quarter. The increase primarily reflects replacement of the RAP layer with private market coverage and replacement of the catastrophe bond with traditional reinsurance coverage in the 2024-2025 program.

Margins
The operating loss margin was 4.3%, compared to an operating loss margin of 1.7% in the prior year quarter. The adjusted operating loss margin was 5.9%, compared to an adjusted operating loss margin of 1.3% in the prior year quarter. The higher adjusted operating loss margin primarily reflects a higher net combined ratio, partly offset by higher net investment income and commission revenue.

The net loss ratio was 91.7%, up 4.7 points compared to the prior year quarter. The increase primarily reflects higher weather losses, mostly from Hurricane Helene, partly offset by more favorable prior year reserve development.

The net expense ratio was 25.2%, up 1.5 points from 23.7% in the prior year quarter. The increase was primarily driven by higher policy acquisition costs associated with growth outside Florida and higher other operating costs.

The net combined ratio was 116.9%, up 6.2 points compared to the prior year quarter. The increase reflects higher net loss and expense ratios, as described above.
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Capital Deployment
During the third quarter, the Company repurchased approximately 226 thousand shares at an aggregate cost of $4.4 million. The Company’s current share repurchase authorization program has approximately $10.3 million remaining.

On July 11, 2024, the Board of Directors declared a quarterly cash dividend of 16 cents per share of common stock, payable on August 9, 2024, to shareholders of record as of the close of business on August 2, 2024.


Conference Call and Webcast
•Friday, October 25, 2024 at 10:00 a.m. ET
•Investors and other interested parties may listen to the call by accessing the online, real-time webcast at universalinsuranceholdings.com/investors or by registering in advance via teleconference at https://register.vevent.com/register/BI790e26e2fbb842a28dbb61116474c3ae. Once registration is completed, participants will be provided with a dial-in number containing a personalized conference code to access the call. An online replay of the call will be available at universalinsuranceholdings.com/investors soon after the investor call concludes.


About Universal
Universal Insurance Holdings, Inc. (NYSE: UVE) is a holding company providing property and casualty insurance and value-added insurance services. We develop, market, and write insurance products for consumers predominantly in the personal residential homeowners lines of business and perform substantially all other insurance-related services for our primary insurance entities, including risk management, claims management and distribution. We provide insurance products in the United States through both our appointed independent agents and our direct online distribution channels, primarily in Florida. Learn more at universalinsuranceholdings.com or get an insurance quote at Clovered.com.


Non-GAAP Financial Measures and Key Performance Indicators
This press release contains non-GAAP financial measures within the meaning of Regulation G promulgated by the U.S. Securities and Exchange Commission (“SEC”), including core revenue, adjusted net income attributable to common stockholders and diluted adjusted earnings (loss) per common share, which exclude the impact of net realized gains (losses) on investments and net change in unrealized gains (losses) on investments. Adjusted operating income (loss) and adjusted operating income (loss) margin exclude the impact of net realized gains (losses) on investments and net change in unrealized gains (losses) on investments and interest and amortization of debt issuance costs. Adjusted common stockholders’ equity and adjusted book value per share exclude accumulated other comprehensive income (loss) (AOCI), net of taxes. Adjusted return on common equity excludes after-tax net realized gains (losses) on investments and net change in unrealized gains (losses) on investments from the numerator and AOCI, net of taxes, and current period after-tax net realized gains (losses) on investments and net change in unrealized gains (losses) on investments from the denominator. A “non-GAAP financial measure” is generally defined as a numerical measure of a company’s historical or future performance that excludes or includes amounts, or is subject to adjustments, so as to be different from the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles (“GAAP”). UVE management believes that these non-GAAP financial measures are meaningful, as they allow investors to evaluate underlying revenue and profitability trends and enhance comparability across periods. When considered together with the GAAP financial
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measures, management believes these metrics provide information that is useful to investors in understanding period-over-period operating results separate and apart from items that may, or could, have a disproportionately positive or negative impact on results in any particular period. UVE management also believes that these non-GAAP financial measures enhance the ability of investors to analyze UVE’s business trends and to understand UVE’s operational performance. UVE’s management utilizes these non-GAAP financial measures as guides in long-term planning. Non-GAAP financial measures should be considered in addition to, and not as a substitute for or superior to, financial measures presented in accordance with GAAP. For more information regarding our key performance indicators, please refer to the section titled “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Key Performance Indicators” in our forthcoming Quarterly Report on Form 10-Q for the quarter ended September 30, 2024.

Forward-Looking Statements
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,” “will,” “plan,” 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, including those risks and uncertainties described under the heading “Risk Factors” and “Liquidity and Capital Resources” in our 2023 Annual Report on Form 10-K, and supplemented in our subsequent Quarterly Reports on Form 10-Q. Future results could differ materially from those described, and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. 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 Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K and the most recent quarterly reports on Form 10-Q.



Investors/Media:
Arash Soleimani, CFA, CPA, CPCU, ARe
Chief Strategy Officer
954-804-8874
asoleimani@universalproperty.com
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UNIVERSAL INSURANCE HOLDINGS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(in thousands, except per share data)
September 30,
December 31,
20242023
ASSETS:
Invested Assets
  Fixed maturities, at fair value$1,276,732 $1,064,330 
  Equity securities, at fair value79,470 80,495 
  Other investments, at fair value
12,248 10,434 
  Investment real estate, net5,618 5,525 
  Total invested assets1,374,068 1,160,784 
Cash and cash equivalents333,678 397,306 
Restricted cash and cash equivalents68,635 2,635 
Prepaid reinsurance premiums418,834 236,254 
Reinsurance recoverable130,124 219,102 
Premiums receivable, net92,400 77,064 
Property and equipment, net49,358 47,628 
Deferred policy acquisition costs125,305 109,985 
Goodwill2,319 2,319 
Other assets55,797 63,484 
TOTAL ASSETS$2,650,518 $2,316,561 
LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES:
Unpaid losses and loss adjustment expenses$460,437 $510,117 
Unearned premiums1,108,890 990,559 
Advance premium71,700 48,660 
Reinsurance payable, net420,282 191,850 
Long-term debt, net101,434 102,006 
Other liabilities87,530 132,072 
     Total liabilities2,250,273 1,975,264 
STOCKHOLDERS' EQUITY:
Cumulative convertible preferred stock ($0.01 par value)2
— — 
Common stock ($0.01 par value)3
472 472 
Treasury shares, at cost - 19,012 and 18,303
(274,977)(260,779)
Additional paid-in capital121,003 115,086 
Accumulated other comprehensive income (loss), net of taxes(45,593)(74,172)
Retained earnings599,340 560,690 
     Total stockholders' equity400,245 341,297 
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY$2,650,518 $2,316,561 
Notes:
2 Cumulative convertible preferred stock ($0.01 par value): Authorized - 1,000 shares; Issued - 10 and 10 shares; Outstanding - 10 and 10 shares; Minimum liquidation preference - $9.99 and $9.99 per share.
3 Common stock ($0.01 par value): Authorized - 55,000 shares; Issued - 47,298 and 47,269 shares; Outstanding 28,286 and 28,966 shares.

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UNIVERSAL INSURANCE HOLDINGS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(in thousands)
Three Months EndedNine Months Ended
September 30,September 30,
2024202320242023
REVENUES
Net premiums earned$345,736 $331,040 $1,024,719 $916,538 
Net investment income 15,406 12,755 43,589 34,735 
Net realized gains (losses) on investments(1,146)(431)(1,534)(337)
Net change in unrealized gains (losses) on investments
7,299 (1,285)11,760 1,403 
Commission revenue12,959 10,830 35,671 43,098 
Policy fees5,194 5,111 15,175 14,662 
Other revenue2,106 2,028 6,347 6,027 
Total revenues387,554 360,048 1,135,727 1,016,126 
EXPENSES
Losses and loss adjustment expenses316,955 287,972 800,714 717,853 
Policy acquisition costs58,665 53,180 170,100 156,877 
Other operating expenses28,438 25,142 82,783 74,047 
Total operating costs and expenses404,058 366,294 1,053,597 948,777 
Interest and amortization of debt issuance costs1,619 1,631 4,864 4,896 
Income (loss) before income tax expense (benefit)
(18,123)(7,877)77,266 62,453 
Income tax expense (benefit)
(1,960)(1,962)24,356 15,629 
NET INCOME (LOSS)
$(16,163)$(5,915)$52,910 $46,824 


UNIVERSAL INSURANCE HOLDINGS, INC. AND SUBSIDIARIES
SHARE AND PER SHARE INFORMATION
(in thousands, except per share data)
Three Months EndedNine Months Ended
September 30,September 30,
2024202320242023
Weighted average common shares outstanding - basic28,355 29,617 28,607 30,087 
Weighted average common shares outstanding - diluted28,355 29,617 29,317 30,378 
Shares outstanding, end of period28,286 29,186 28,286 29,186 
Basic earnings (loss) per common share
$(0.57)$(0.20)$1.85 $1.56 
Diluted earnings (loss) per common share
$(0.57)$(0.20)$1.80 $1.54 
Cash dividend declared per common share$0.16 $0.16 $0.48 $0.48 
Book value per share, end of period$14.15 $10.33 $14.15 $10.33 
Annualized return on average common equity (ROCE)(16.3)%(7.4)%19.0 %21.2 %




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UNIVERSAL INSURANCE HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTARY INFORMATION
(in thousands, except for Policies In Force data)
Three Months Ended
Nine Months Ended
September 30,
September 30,
2024202320242023
Premiums
     Direct premiums written - Florida$440,018 $430,946 $1,255,861 $1,225,295 
     Direct premiums written - Other States134,333 101,042 342,936 263,921 
Direct premiums written - Total$574,351 $531,988 $1,598,797 $1,489,216 
Direct premiums earned$507,745 $474,311 $1,480,466 $1,393,003 
Net premiums earned$345,736 $331,040 $1,024,719 $916,538 
Underwriting Ratios - Net
Loss and loss adjustment expense ratio91.7 %87.0 %78.1 %78.3 %
General and administrative expense ratio
25.2 %23.7 %24.7 %25.2 %
  Policy acquisition cost ratio17.0 %16.1 %16.6 %17.1 %
  Other operating expense ratio8.2 %7.6 %8.1 %8.1 %
Combined ratio116.9 %110.7 %102.8 %103.5 %
As of
September 30,
20242023
Policies in force
Florida570,432 570,339 
Other States274,107 237,214 
Total844,539 807,553 
Premiums in force
Florida$1,609,836 $1,571,600 
Other States436,474 342,893 
Total$2,046,310 $1,914,493 
Total Insured Value
Florida$187,639,152 $190,299,057 
Other States160,357,285 130,281,463 
Total$347,996,437 $320,580,520 









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UNIVERSAL INSURANCE HOLDINGS, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(in thousands, except for per share data)
GAAP revenue to core revenue
Three Months Ended
Nine Months Ended
September 30,
September 30,
2024202320242023
GAAP revenue$387,554 $360,048 $1,135,727 $1,016,126 
less: Net realized gains (losses) on investments(1,146)(431)(1,534)(337)
less: Net change in unrealized gains (losses) on investments
7,299 (1,285)11,760 1,403 
Core revenue$381,401 $361,764 $1,125,501 $1,015,060 

GAAP operating income (loss) to adjusted operating income (loss)
Three Months Ended
Nine Months Ended
September 30,
September 30,
2024202320242023
GAAP income (loss) before income tax expense (benefit)
$(18,123)$(7,877)$77,266 $62,453 
add: Interest and amortization of debt issuance costs1,619 1,631 4,864 4,896 
GAAP operating income (loss)
(16,504)(6,246)82,130 67,349 
less: Net realized gains (losses) on investments(1,146)(431)(1,534)(337)
less: Net change in unrealized gains (losses) on investments
7,299 (1,285)11,760 1,403 
Adjusted operating income (loss)
$(22,657)$(4,530)$71,904 $66,283 

GAAP operating income (loss) margin to adjusted operating income (loss) margin
Three Months Ended
Nine Months Ended
September 30,
September 30,
2024
2023
2024
2023
GAAP operating income (loss) (a)
$(16,504)$(6,246)$82,130 $67,349 
GAAP revenue (b)387,554 360,048 1,135,727 1,016,126 
GAAP operating income (loss) margin (a÷b)
(4.3)%(1.7)%7.2 %6.6 %
Adjusted operating income (loss) (c)
(22,657)(4,530)71,904 66,283 
Core revenue (d)381,401 361,764 1,125,501 1,015,060 
Adjusted operating income (loss) margin (c÷d)
(5.9)%(1.3)%6.4 %6.5 %

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GAAP net income (loss) (NI) to adjusted NI (loss) available to common stockholders
Three Months Ended
Nine Months Ended
September 30,
September 30,
2024
2023
2024
2023
GAAP NI (loss)
$(16,163)$(5,915)$52,910 $46,824 
less: Preferred dividends3 3 8 8 
GAAP NI (loss) available to common stockholders (e)
(16,166)(5,918)52,902 46,816 
less: Net realized gains (losses) on investments(1,146)(431)(1,534)(337)
less: Net change in unrealized gains (losses) on investments
7,299 (1,285)11,760 1,403 
add: Income tax effect on above adjustments1,514 (422)2,516 262 
Adjusted NI (loss) available to common stockholders (f)
$(20,805)$(4,624)$45,192 $46,012 
Weighted average diluted common shares outstanding (g)28,355 29,617 29,317 30,378 
Diluted earnings (loss) per common share (e÷g)
$(0.57)$(0.20)$1.80 $1.54 
Diluted adjusted earnings (loss) per common share (f÷g)
$(0.73)$(0.16)$1.54 $1.51 

GAAP stockholders’ equity to adjusted common stockholders’ equity
As of
September 30,
September 30,
December 31,
2024
2023
2023
GAAP stockholders’ equity$400,245 $301,502 $341,297 
less: Preferred equity100100100
Common stockholders’ equity (h)400,145 301,402 341,197 
less: Accumulated other comprehensive (loss), net of taxes(45,593)(107,115)(74,172)
Adjusted common stockholders’ equity (i)$445,738 $408,517 $415,369 
Common shares outstanding (j)
28,286 29,186 28,966 
Book value per common share (h÷j)$14.15 $10.33 $11.78 
Adjusted book value per common share (i÷j)$15.76 $14.00 $14.34 

GAAP return on common equity (ROCE) to adjusted ROCE
Three Months Ended
Nine Months Ended
Year Ended
September 30,
September 30,
December 31,
2024
2023
2024
2023
2023
Actual or Annualized NI (loss) available to common stockholders (k)
$(64,664)$(23,672)$70,536 $62,421 $66,813 
Average common stockholders’ equity (l)396,641 317,987 370,671 294,599 314,497 
ROCE (k÷l)(16.3)%(7.4)%19.0 %21.2 %21.2 %
Annualized adjusted NI (loss) available to common stockholders (m)
$(83,220)$(18,496)$60,256 $61,349 $58,657 
Adjusted average common stockholders’ equity4 (n)
454,977 420,120 426,699 399,646 399,396 
Adjusted ROCE (m÷n)(18.3)%(4.4)%14.1 %15.4 %14.7 %
4 Adjusted average common stockholders’ equity excludes current period after-tax net realized gains (losses) on investments and net change in unrealized gains (losses) on investments.
10
v3.24.3
Cover Page
Oct. 24, 2024
Cover [Abstract]  
Entity Central Index Key 0000891166
Document Type 8-K
Document Period End Date Oct. 24, 2024
Entity Registrant Name Universal Insurance Holdings, Inc.
Entity Incorporation, State or Country Code DE
Entity File Number 001-33251
Entity Tax Identification Number 65-0231984
Entity Address, Address Line One 1110 W. Commercial Blvd.
Entity Address, City or Town Fort Lauderdale
Entity Address, State or Province FL
Entity Address, Postal Zip Code 33309
City Area Code 954
Local Phone Number 958-1200
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, $0.01 Par Value
Trading Symbol UVE
Security Exchange Name NYSE
Entity Emerging Growth Company false
Amendment Flag false
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