Universal Insurance announced the completion of the 2026-2027 consolidated reinsurance program for its wholly-owned insurance subsidiaries, effective June 1, 2026.
Two subsidiaries, Universal Property & Casualty Insurance Company (UPCIC) and American Platinum Property & Casualty Insurance Company (APPCIC), set the combined reinsurance tower top for a single statewide (including Florida) campaign at $2.623 billion, an increase of approximately $50 million over the 2025-2026 treaty period.
To further insulate future years, Universal explained that UPCIC has secured $352 million in catastrophic capacity through contractually agreed-upon limits, expanding coverage to include the 2027-2028 treaty period, of which $277 million is under the Florida Hurricane Catastrophic Fund (FHCF) tier.
Total first-event statutory retention for insured entities was $45 million, unchanged from the prior year.
Chief Risk Officer Matthew J. Palmieri commented: “We are pleased to announce the completion of our 2026-2027 reinsurance program for our insurers.
“The catastrophe reinsurance market is slowing following the modest impact of the 2025 Atlantic hurricane season and the passage of sweeping property insurance reforms in Florida that have significantly stabilized the market.
“We have secured capacity for first and subsequent events with efficient pricing through our key long-term reinsurance relationships, some of which span three decades, and have added additional multi-year capacity in the process.”
Global reported that net profit available to common shareholders in the first quarter of 2026 was US$54.3 million, a year-on-year increase of 31%, supported by a lower net loss rate and higher net investment income.