Universal cedes $10mn prior-year development to reinsurers in Q1

02 May 2022

Universal Insurance Holdings reported prior-year reserve deterioration of $10.7mn in Q1, of which $10mn, or 94%, was ceded to reinsurers, as it discussed ongoing preparations for its June renewal.

This has dropped back steeply from the result in Q4 2021, when the carrier posted $167.8mn of prior-year reserve deterioration, of which 78.2%,

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