Universal reinsurance spend up 4% to $156mn

Sat, 06/03/2017 - 13:56
by Trading Risk

Universal Property & Casualty Insurance Company increased its reinsurance spending by 3.7 percent to $155.5mn for the 2017-18 year, as it obtained 10 percent more limit.

The carrier's cover against a first-event Florida loss rose to $2.65bn, from $2.4bn last year.

Universal's largest reinsurance providers continue to be Nephila Capital, Everest Re, RenaissanceRe, Chubb and Lloyd's syndicates.

The insurer also lifted its multi-year cover to $300mn, up from $100mn last year.

Universal kept its retentions stable at $35mn 

 

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