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Get filing alertsUniversal Insurance secures $2.6B reinsurance tower with $45M retention for 2026-27
Filed May 28, 2026 · Period ending May 28, 2026 · ~1 min read
Key Changes
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high
Completed 2026-27 reinsurance program with $2.623 billion first-event coverage above $45 million retention, with no co-participation requirements and full loss adjustment expense coverage.
Item 8.01 verify on EDGAR → -
high
Multi-event protection provides $1.209 billion coverage for second catastrophic event if first event exhausts the tower, plus $1.098 billion of reinstatable private coverage.
Item 8.01 verify on EDGAR → -
medium
Elected maximum 90% coverage from Florida Hurricane Catastrophe Fund, securing approximately $1.415 billion in state-backed coverage across both insurance subsidiaries.
Item 8.01 verify on EDGAR → -
medium
Locked in $352 million of reinsurance capacity extending through 2027-28 period at pre-agreed terms, providing pricing certainty for next year's renewal.
Item 8.01 verify on EDGAR →
Summary
Universal Insurance Holdings completed its annual reinsurance renewal for the critical June 2026 through May 2027 hurricane season. The company secured a $2.623 billion catastrophe tower sitting above a $45 million retention, meaning UVE absorbs the first $45 million of losses from any single event before reinsurance kicks in.
The structure includes favorable terms with no cost-sharing and full coverage of loss adjustment expenses. For retail investors, this renewal is significant because it defines the company's maximum exposure to catastrophic events like hurricanes. The $45 million retention represents the company's balance sheet risk per event, while the substantial tower above protects against severe losses.
The multi-event coverage is particularly important in active hurricane seasons, providing over $1.2 billion in second-event protection. Key item to watch: the company's quarterly disclosures about named storm activity and any losses approaching the $45 million retention threshold. Also monitor whether the forward-locked $352 million of 2027-28 capacity proves advantageous if reinsurance markets harden over the next year.
Section-by-Section Diff
Event · Item 8.01 — Other Events
Item 8.01 — Other Events filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
Universal Property & Casualty Insurance Company (“UPCIC”) and American Platinum Property and Casualty Insurance Company (“APPCIC” and together with UPCIC, the “Insurance Entities”), each a wholly-owned subsidiary of Universal Insurance Holdings, Inc. (the “Company”), have completed the placement of their combined 2026-2027 reinsurance program, effective June 1, 2026.
The company's insurance subsidiaries have finalized their reinsurance coverage for the June 2026 to June 2027 period. This annual renewal is critical because it determines how much catastrophic loss the company can transfer to reinsurers versus retaining on its own balance sheet.
Added in current filing · verify on EDGAR →
To further insulate for future years, UPCIC and APPCIC have secured $352 million of catastrophe capacity with contractually agreed limits that extend coverage to include the 2027-2028 treaty period, of which $277 million of the capacity sits below the FHCF layer.
The company locked in $352 million of reinsurance capacity that extends through the 2027-2028 period at pre-agreed terms. This forward commitment provides pricing certainty and capacity assurance for the following year, protecting against potential reinsurance market hardening or capacity constraints.
Event · Item 9.01 — Financial Statements and Exhibits
Universal Insurance Holdings filed an 8-K attaching a press release dated May 28, 2026; no material event details disclosed in filing body.
Added in current filing · view on EDGAR →
99.1 Press Release dated May 28, 2026.
The company filed an 8-K referencing a press release dated May 28, 2026. The filing body provides no details about the press release content, only listing it as Exhibit 99.1. Without access to the exhibit itself, the nature and materiality of the disclosed event cannot be determined from this filing.
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Figures/quotes linked to EDGAR · Narrative written by AI · May 29, 2026 · How we verify