Universal Insurance Holdings said that its subsidiary Universal Property & Casualty Insurance Company (UPCIC) has completed its 2010-2011 reinsurance program.
Universal Insurance said that UPCIC purchased a similar amount of coverage in the open market through private reinsurers, as compared to the 2009-2010 reinsurance program, and similarly declined the temporary increase in coverage limit option offered by the Florida Hurricane Catastrophe Fund.
The largest private participants in UPCIC’s reinsurance program continue to include reinsurance companies such as Everest Re, Renaissance Re, and Lloyd’s of London syndicates.
Universal Insurance has filed a current report on Form 8-K with the securities and exchange commission which provides additional details regarding the program.
Universal Insurance Holdings is a vertically integrated insurance holding company, which through its subsidiaries, covers all aspects of insurance underwriting, distribution, claims processing and exposure management.