UVE — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-07-30

• We are a vertically integrated insurance holding company focused primarily on personal residential homeowners insurance. Our insurance subsidiaries, Universal Property & Casualty Insurance Company (“UPCIC”) and American Platinum Property and Casualty Insurance Company (“APPCIC” and, together with UP…

• Our results are driven principally by the size, mix and profitability of our insured portfolio; the frequency and severity of weather and non-weather claims; the cost and structure of our catastrophe reinsurance program; investment income; and operating efficiency. Management’s objective is to gener…

• During 2026, we continued to pursue selective growth in Florida and other states where market conditions have improved or otherwise support attractive risk-adjusted returns. In Florida, legislative reforms enacted in late 2022 have contributed to improved claim and litigation trends on policies issu…

• Although Florida represented approximately 72.9% of direct premiums written for the six months ended June 30, 2026, it represented approximately 47.1% of total insured value as of June 30, 2026. This difference reflects the higher premium levels associated with Florida’s catastrophe exposure, reinsu…

• The following Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”) should be read together with the condensed consolidated financial statements and related notes included elsewhere in this Quarterly Report on Form 10-Q, as well as the audited consolidated fi…

Text removed vs the prior filing · source: 10-Q · 2026-04-29

• We are a vertically integrated holding company offering property and casualty insurance and value-added insurance services. In addition, we generate revenue from our investment portfolio, reinsurance brokerage services, the receipt of managing general agency fees from policyholders and from other so…

• The following Management’s Discussion and Analysis (“MD&A”) is intended to assist in an understanding of our financial condition and results of operations. This MD&A should be read in conjunction with our Financial Statements and accompanying Notes appearing elsewhere in this Report (the “Notes”). I…

• Other established insurers also are expanding new business writings. In addition, a reported 17 new insurers have entered the Florida market in recent years. Unlike the Insurance Entities, some new and established insurers write business predominantly by assuming risks from Citizens. Altogether, ren…

• Our business is affected by evolving domestic, national or global economic conditions, including the potential impact from tariffs and other inflationary pressures. Increased labor and materials costs can increase our claims costs. They can also have direct effects on our business, such as increasin…

• We also rely on global reinsurance markets to mitigate our exposure under policies we write. The availability and pricing of reinsurance can be influenced by global economic conditions such as inflation. Our ability to purchase desired levels of reinsurance at competitive prices also can be influenc…

Text added vs the prior filing · source: 10-Q · 2026-07-30

• Market risk represents the potential for economic loss arising from adverse changes in the fair value of financial instruments and investment real estate. The Company’s primary market risk exposures relate to changes in interest rates, credit spreads, equity prices and real estate market values. The…

• There were no material changes in the Company’s market risk exposures during the six months ended June 30, 2026 from those disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. See “Item 1—Note 3 (Investments)” for additional information regarding the Company’s …

• Interest rate risk is the risk that changes in market interest rates will affect the fair value of the Company’s fixed-rate financial instruments. In general, increases in interest rates reduce the fair value of fixed-rate securities, while decreases in interest rates increase their fair value. The …

• The following tables present information about the Company’s fixed-income financial instruments as of June 30, 2026 and December 31, 2025 that are sensitive to changes in interest rates. The tables summarize expected cash flows by year of effective

• maturity, based on amortized cost, and compare those amounts with fair value, book yield and coupon yield (dollars in thousands):

Text removed vs the prior filing · source: 10-Q · 2026-04-29

• Market risk is the potential for economic losses due to adverse changes in fair market value of available-for-sale debt securities, equity securities (“Financial Instruments”) and investment real estate. We carry all of our Financial Instruments at fair market value and investment real estate at net…

• See “Item 1—Note 3 (Investments)” for more information about our Financial Instruments.

• Interest rate risk is the sensitivity of the fair market value of a fixed rate Financial Instrument to changes in interest rates. Generally, when interest rates rise, the fair value of our fixed rate Financial Instruments declines.

• The following tables provide information about our fixed income Financial Instruments as of March 31, 2026, compared to December 31, 2025, which are sensitive to changes in interest rates. The tables present the expected cash flows of Financial Instruments based on years to effective maturity using …

• All securities, except those with perpetual maturities, were categorized in the tables above utilizing years to effective maturity. Effective maturity takes into consideration all forms of potential prepayment, such as call features or prepayment schedules, which shorten the lifespan of contractual …

Text added vs the prior filing · source: 10-Q · 2026-07-30

• Under the supervision and with the participation of management, including the Company’s Chief Executive Officer and Chief Financial Officer, the Company evaluated the effectiveness of its disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act, as of Ju…

• Disclosure controls and procedures are designed to ensure that information required to be disclosed by the Company in reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such inform…

• Company’s Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.

• There were no changes in the Company’s internal controls over financial reporting during the fiscal quarter ended June 30, 2026 that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

Text removed vs the prior filing · source: 10-Q · 2026-04-29

• The Company carried out an evaluation under the supervision and with the participation of the Company’s management, including the Company’s Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of the Company’s disclosure controls and procedures pursua…

• There was no change in the Company’s internal controls over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

Text added vs the prior filing · source: 10-Q · 2026-07-30

• During the three months ended June 30, 2026, no director or officer, as defined in Rule 16a-1(f) under the Exchange Act, adopted, modified or terminated any contract, instruction or written plan for the purchase or sale of the Company’s securities intended to satisfy the affirmative defense conditio…

Text removed vs the prior filing · source: 10-Q · 2026-04-29

• During the three months ended March 31, 2026, no director or Section 16 officer adopted or terminated any Rule 10b5-1 plans or non-Rule 10b5-1 trading arrangements.