UNIVERSAL INSURANCE HOLDINGS INC
For the period ended Mar 31, 2024. Filed Apr 30, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed Apr 30, 2024
UVE$46.47-0.6%Stored close · as of Nov 9, 2026
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Item 1. Financial Statements
CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)
| As of | ||
|---|---|---|
| March 31, | December 31, | |
| 2024 | 2023 | |
| ASSETS | ||
| Available-for-sale debt securities, at fair value, net of allowance for credit loss of $600 and $566 (amortized cost: $1,209,054 and $1,162,919) | $1,107,058 | $1,064,330 |
| Equity securities, at fair value (cost: $89,110 and $91,052) | 81,659 | 80,495 |
| Other investments, at fair value (cost: $4,794 and $4,794) | 10,434 | 10,434 |
| Investment real estate, net | 5,479 | 5,525 |
| Total invested assets | 1,204,630 | 1,160,784 |
| Cash and cash equivalents | 396,323 | 397,306 |
| Restricted cash and cash equivalents | 2,635 | 2,635 |
| Prepaid reinsurance premiums | 88,499 | 236,254 |
| Reinsurance recoverable | 124,646 | 219,102 |
| Premiums receivable, net | 73,974 | 77,064 |
| Property and equipment, net | 49,416 | 47,628 |
| Deferred policy acquisition costs | 106,632 | 109,985 |
| Deferred income tax asset, net | 49,277 | 43,175 |
| Other assets | 24,112 | 22,628 |
| Total assets | $2,120,144 | $2,316,561 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| LIABILITIES: | ||
| Unpaid losses and loss adjustment expenses | $429,629 | $510,117 |
| Unearned premiums | 954,666 | 990,559 |
| Advance premium | 74,370 | 48,660 |
| Book overdraft | — | 14,597 |
| Reinsurance payable, net | 97,871 | 191,850 |
| Commission payable | 22,661 | 20,989 |
| Income taxes payable | 24,984 | 5,886 |
| Other liabilities and accrued expenses | 49,484 | 90,600 |
| Long-term debt, net | 101,815 | 102,006 |
| Total liabilities | 1,755,480 | 1,975,264 |
| Commitments and Contingencies (Note 12) | ||
| STOCKHOLDERS’ EQUITY: | ||
| Cumulative convertible preferred stock, $0.01 par value | — | — |
| Minimum liquidation preference, $9.99 and $9.99 per share | ||
| Common stock, $0.01 par value | 472 | 472 |
| Treasury shares, at cost - 18,511 and 18,303 | (264,918) | (260,779) |
| Additional paid-in capital | 116,239 | 115,086 |
| Accumulated other comprehensive income (loss), net of taxes | (76,714) | (74,172) |
| Retained earnings | 589,585 | 560,690 |
| Total stockholders’ equity | 364,664 | 341,297 |
| Total liabilities and stockholders’ equity | $2,120,144 | $2,316,561 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.