Insurance Journal: Universal Completes $696M Reinsurance Program; Five Others in Florida May Not
June 1, 2022
As many as five Florida property insurers are unlikely to be able to secure adequate reinsurance by today’s deadline, but the state’s largest carrier is not one of them.
Universal Insurance Holdings announced Tuesday that its subsidiaries, Universal Property & Casualty and American Platinum Property & Casualty, had completed their 2022-2023 reinsurance programs.
“Against a backdrop of wide-ranging macro-economic pressures globally and an extremely challenging property insurance and reinsurance marketplace, particularly in the markets that we serve, we were able to secure the extensive reinsurance program we desired for the 2022 hurricane season,” Universal President Matthew Palmeiri said in a statement.