Florida’s Universal sees $80.1mn in Q4 costs, sending stock to lowest point in eight years
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Florida’s Universal sees $80.1mn in Q4 costs, sending stock to lowest point in eight years

Eileen AJ Connelly
February 11, 2022
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Universal Insurance Holdings logo Fort Lauderdale FL.jpg

Shares of Universal Insurance Holdings plunged 27% on Friday after the Florida company said it expects $80.1mn in costs for the fourth quarter due to adverse development and reserve strengthening. 

The Fort Lauderdale-based homeowners’ provider said it strengthened its reserves by $30.7mn on an after-tax basis and added $21.5mn

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Eileen AJ Connelly
Contributing Editor
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