Universal beats in Q3 as top line swellsFloridian insurer Universal has beaten the forecast of Wall Street analysts to deliver a net income of $37.4mn in the third quarter.
Universal passes reinsurers up to $315mn bill on Michael lossFloridian headquartered Universal Insurance Holdings is set to pass around $315mn of its losses from Hurricane Michael to its reinsurance panel.
AIR pegs Hurricane Michael losses at up to $10bnAIR Worldwide has estimated that industry losses resulting from Hurricane Michael’s winds and storm surge at up to $10bn.