Universal Insurance Holdings, Inc. (UVE) Q2 2026 Earnings Call Transcript

Universal Insurance Holdings, Inc. ( UVE ) Q2 2026 Earnings Call July 24, 2026 10:00 AM EDT Universal Insurance Holdings, Inc. ( UVE ) Q2 2026 Earnings Call July 24, 2026 10:00 AM EDT Arash Soleimani Chief Strategy Officer Good morning. Thank you for joining us today. Welcome to our quarterly earnings call. On the call with me today are Steve Donaghy, Chief Executive Officer; and Frank Wilcox, Chief Financial Officer. Before we begin, please note today's discussion may contain statements and non-GAAP financial measures. Forward-looking statements involve assumptions, risks, and uncertainties that could cause actual results to differ materially from those statements. For more information, please see the press release and Universal's SEC filings, all of which are available on the Investors section of our website at universalinsuranceholdings.com and on the SEC's website. A reconciliation of non-GAAP financial measures to comparable GAAP measures is included in the quarterly press release and can also be found on Universal's website at universalinsuranceholdings.com. Thanks, Arash. Good morning, everyone. In the quarter, we delivered a very strong 33.2% annualized adjusted return on common equity, driven by solid underwriting and revenue performance. Notably, the net loss ratio improved by 7.5 points year-over-year, driven by favorable claims and litigation trends that we expect to benefit non-catastrophe margins throughout the year. Strong retention and new business generation resulted in 4.1% direct premiums written growth, including growth in Florida and across our multi-state footprint. The favorable claims and litigation trends in our