UNIVERSAL INSURANCE HOLDINGS, INC. (UVE) FY2025 10-K Annual Report
UNIVERSAL INSURANCE HOLDINGS, INC. (UVE) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 27, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
UNIVERSAL INSURANCE HOLDINGS, INC. FY2025 10-K Analysis
Business Overview
- • Core business: Insurance and investment management focusing on fixed income and equity financial instruments
- • Emphasis on increased fixed income portfolio size to $1.47B amortized cost as of Dec 31, 2025, up from $1.35B in 2024
- • Shift toward higher coupon and book yields, with effective maturity extending to 4.5 years vs 4.1 years prior year
- • Equity securities exposure rose to $85.4M from $77.8M, notably higher allocation to common stock at 43.9% vs 18.5% in 2024
- • Market value risk sensitivity increased with potential 20% equity price decline impact rising to $17.1M from $15.6M year over year
Management Discussion & Analysis
- • Net premiums earned $1.37B, up 9.7% YoY from $1.25B in 2023 driven by a 7.7% increase in direct premiums written
- • Combined ratio 104.1% vs 103.6% in 2023; policy acquisition and operating expense ratio 24.9% vs 24.3%
- • Best segment: Net investment income $59.1M, up 22.1% YoY from $48.4M; Worst: Commission revenue down 4.2% to $51.8M from $54.1M
- • Net losses and LAE $1.09B with 79.2% net loss ratio vs $992.6M and 79.3% ratio in 2023, driven by hurricanes Helene and Milton losses of $156M
- • Income tax expense $25.7M with effective tax rate increased to 30.4% from 24.4%, interest expense stable at $6.5M
- • Management notes ongoing claims uncertainty from pre-reform Florida policies, expects gradual benefit realization from new legislation over several years
Risk Factors
- • Florida insurance market risk: Uncertainty on long-term benefit of Dec 2022 Florida reforms impacting pricing and policy availability
- • Macroeconomic exposure: Labor/materials cost inflation driving increased claims expenses and offsetting reform benefits
- • Supply chain vulnerability: Heavy dependence on global catastrophe reinsurance markets affected by inflation and severe weather
- • Competitive threat: Entry of 17 new insurers in Florida post-2022 reforms increasing market competition and reducing Citizens’ policy count by ~1 million
- • Financial risk: Florida premiums declined 2.8% ($44.1M) in 2025 while out-of-state premiums grew 24.3% ($114.7M), impacting revenue mix and growth
UNIVERSAL INSURANCE HOLDINGS, INC. FY2025 Key Financial MetricsXBRL
Revenue
$1.6B
▲ +5.5% YoY
Net Income
$183M
▲ +210.5% YoY
Net Margin
11.4%
▲ +753bp YoY
ROE
33.2%
▲ +1741bp YoY
Total Assets
$2.8B
▼ -0.1% YoY
EPS (Diluted)
$6.32
▲ +214.4% YoY
Operating Cash Flow
$381M
▲ +177.7% YoY
Source: XBRL data from UNIVERSAL INSURANCE HOLDINGS, INC. FY2025 10-K filing on SEC EDGAR. All figures in USD.
Get deeper insights on UNIVERSAL INSURANCE HOLDINGS, INC.
Access full AI analysis, insider trading data, fund holdings, and cross-signal detection on SignalX.