Universal Insurance has announced the completion of the combined 2026–2027 reinsurance program for its wholly owned insurance company subsidiaries, effective June 1, 2026.
Universal Property & Casualty Insurance Company (UPCIC) and American Platinum Property and Casualty Insurance Company (APPCIC), the two subsidiaries, set the top of the combined reinsurance tower for a single All States (including Florida) event to $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 of catastrophe capacity with contractually agreed limits that extend coverage to include the 2027-2028 treaty period, of which $277 million sits below the Florida Hurricane Catastrophe Fund (FHCF) layer.
The insurance entities’ combined $45 million first event statutory retention remains unchanged from the prior year.
Matthew J. Palmieri, Chief Risk Officer, commented, “We are pleased to announce the completion of the 2026-2027 reinsurance program for our insurance companies.
“The catastrophe reinsurance market is moderating after a benign 2025 Atlantic hurricane season, as well as from sweeping property insurance reforms passed in Florida, which have meaningfully stabilised the market.
“We secured first and subsequent event capacity at efficient pricing with our key, long-standing reinsurance relationships, some of which have spanned three decades, and added more multi-year capacity in the process.”
Universal reported a Q1 2026 net income available to common stockholders of $54.3 million, up 31% year-on-year, supported by a lower net loss ratio and higher net investment income.
