Hurricane Idalia cost Universal $45mn in Q3: CEO Donaghy
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Hurricane Idalia cost Universal $45mn in Q3: CEO Donaghy

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Universal Insurance Holdings booked $45mn of losses for Hurricane Idalia, which was well within the company’s net retention, CEO Steve Donaghy said during the company’s Q3 earnings call.

Losses from other weather events during the quarter added up to another $10mn-$15mn, he added.

In addition, Universal “completed the commutation of Hurricane Irma with the Florida Hurricane Catastrophe Fund, among partial commutations with private reinsurers for other storms as...

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