Universal secures $2.83bn reinsurance tower with improved retentions
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Universal secures $2.83bn reinsurance tower with improved retentions

Universal Insurance Fort Lauderdale 2.jpg

Universal Insurance Holdings has completed its $2.831bn 2023-24 catastrophe reinsurance tower, which includes $846mn of coverage with limits that automatically reinstate to guarantee a certain level of protection in multi-event scenarios.

This compares to the subsidiaries’ 2022-2023 reinsurance tower where they secured coverage for losses up to $3.16bn.

The year-over-year reduction reflected a reduction of 95,340 to Universal Property & Casualty Insurance Company’s (UPCIC) in force wind-covered policy count as of...

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