Universal Q4 Revenues Up 18% To $54m
Universal Insurance Holdings has reported revenues of $54m for the fourth quarter of 2009, an increase of 18% compared to $45.5m for the same period last year.
The company's net premiums written for the quarter were $26.1m compared to $31.7m for the same period last year. Net premiums earned decreased by 11.3% to $33.7m from $38.07m.
For the foruth quarter ended December 31, 2009, the company posted a net loss of $2.8m, or $0.07 per diluted share, compared to net income of $7.2m, or $0.18 per diluted share for the fourth quarter of 2008.
For the full year 2009, the company has reported revenues of $210.64m compared to $182.66m for 2008. Net premiums earned were $141.6m compared to $147.4m while net premiums written were $134.2m compared with $150.7m. Net income for the fourth quarter was $28.7m compared to $40.03m for the same period last year.
Universal Insurance Holdings is a vertically integrated insurance holding company, which through its various subsidiaries, covers substantially all aspects of insurance underwriting, distribution, claims processing and exposure management.
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Allianz SE (Allianz) is one of the leading global financial services providers, offering a range of banking, asset management and insurance services. The company was formerly known as Allianz AG. Allianz is the parent company for the Allianz Group of companies. The company is one of leading insurance providers in the property and causality, and life insurance in the global market. Allianz is one of the major players in the German insurance market. The company, combined with its subsidiaries, serves over 75 million customers in more than 70 countries across Europe, Asia-Pacific, America and Africa. The company's banking operations are conducted through Dresdner Bank AG and its subsidiaries. Global Markets Direct’s Allianz SE - Financial and Strategic Analysis Review is an in-depth business, strategic and financial analysis of Allianz SE. The report provides a comprehensive insight into the company, including business structure and operations, executive biographies and key competitors. The hallmark of the report is the detailed strategic analysis of the company. This highlights its strengths and weaknesses and the opportunities and threats it faces going forward. Reports Buy online from $125
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