Universal Insurance Revenue Climbs 9.6% as Combined Ratio Improves
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Universal Insurance Holdings' third-quarter revenue rose 9.6% year over year to $439.319 million as the insurer's net combined ratio improved and its policy count grew in the quarter ended Sept. 30. Revenue increased from $400.981 million in the year-earlier quarter. Net income available to common stockholders was $52.506 million, compared with $39.827 million a year earlier. Adjusted diluted earnings per share reached $1.93, up from $1.36. Diluted GAAP earnings per share were $1.80, compared with $1.38. Universal's adjusted EPS is a company-defined non-GAAP measure that excludes net realized and unrealized investment gains or losses.
Source: TokenPost
