D
UNIVERSAL P&C INS CO
Rating Date
December 2023
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Loss
Ratio
Total
Assets
Capital
Net
Premiums
Net
Income
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Major Rating Factors: A history of deficient reserves (1.0 on a scale of 0 to 10) that places pressure on both capital and profits. In the last five years, reserves (two year development) fluctuated between 63% and 38% deficeint. Weak profitability index (2.5) with operating losses during 2019, 2020, 2021 and 2022. Average return on equity over the last five years has been poor at -21.3%.
Other Rating Factors: Weak overall results on stability tests (1.5) including weak results on operational trends and negative cash flow from operations for 2022. Fair long-term capitalization index (4.7) based on fair current risk adjusted capital (moderate loss scenario). Fair liquidity (4.1) as cash resources may not be adequate to cover a spike in claims.
Stability Factors: F - Negative cash flow. L - Past results on our liquidity tests. R - Concerns about the financial strength of its reinsurers. T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business: Homeowners (94.9%), fire (0.6%), other (4.5%)
Licensed in: AL, DE, FL, GA, HI, IL, IN, IA, MD, MA, MI, MN, NH, NJ, NY, NC, PA, SC, TN, VA, WI
Principal Investments: Investment grade bonds (79.5%), common stock (4.3%), real estate (2.6%), preferred stock (0.5%), cash (0.5%), other (12.6%)
Ratios
Premium to Surplus
Reserve to Surplus
1-Year Reserve Development
2-Year Reserve Development
Expense Ratio
Combined Ratio
Cash From Underwriting
Net Premium Growth
Investments in Affiliates
Corporate Info
Group Affiliation
Universal Insurance Holdings Inc
Investment Rating
UVE
Company Address
1100 West Commercial Boulevard
Fort Lauderdale, FL 33309
Phone Number
(954) 958-1200
NAIC Number
10861
Largest Affiliates
C
Fort Lauderdale, FL - P&C
Weiss Ratings