Universal insurance holdings, inc. (UVE)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
PREMIUMS EARNED AND OTHER REVENUES
Direct premiums written

1,292,721

1,190,875

1,055,886

954,617

883,409

789,577

783,894

780,128

721,462

666,309

562,672

Change in unearned premium

59,600

69,235

56,688

-

-

-

-

-

-

-

-

Ceded premiums written

-

-

-

-

-

-

522,116

517,604

512,979

466,694

428,384

Net premiums written

-

-

-

-

-

-

261,778

262,524

208,483

199,615

134,288

Change in unearned premium

-

-

-

-33,390

-46,617

-12,260

5,877

-31,404

-9,498

-

-

Direct premium earned

1,233,121

1,121,640

999,198

921,227

836,792

777,317

-

-

-

-

-

Ceded premium earned

390,619

353,258

310,405

288,811

332,793

450,440

-

-

-

-

-

Change in net unearned premium

-

-

-

-

-

-

-

-

-

-29,172

7,366

Premiums earned, net

842,502

768,382

688,793

632,416

503,999

326,877

267,655

231,120

198,985

170,443

141,654

Net investment income

30,743

24,816

13,460

9,540

5,155

2,375

1,928

441

788

992

1,454

Net realized gains (losses) on investments

-12,715

-2,089

2,570

2,294

1,060

5,627

-14,740

-11,943

2,350

27,692

24,175

Net change in unrealized gains (losses) of equity securities

23,188

-17,169

0

0

-

-

-

-

-

-

-

Net change in unrealized gains (losses) on investments

-

-

-

-

-

-

7,850

9,443

-18,410

1,754

-

Net foreign currency gains (losses) on investments

-

-

-

-

-

-

-

22

1,532

1,122

6,808

Commission revenue

26,101

22,438

21,253

17,733

14,870

14,205

18,615

20,383

19,507

17,895

16,984

Policy fees

21,560

20,275

18,838

16,880

15,440

13,982

13,661

14,475

15,298

15,149

14,174

Other revenue

7,972

7,163

7,002

6,426

6,020

6,210

6,190

5,998

5,811

4,876

5,393

Total premiums earned and other revenues

939,351

823,816

751,916

685,289

546,544

369,276

301,159

269,939

225,861

239,923

210,642

OPERATING COSTS AND EXPENSES
Losses and loss adjustment expenses

603,406

414,455

350,428

301,229

187,739

123,275

108,615

126,187

124,309

113,355

106,133

General and administrative expenses

272,428

256,488

231,004

221,177

183,782

118,397

91,988

91,193

67,834

64,290

58,346

Total operating costs and expenses

875,834

670,943

581,432

522,406

371,521

241,672

200,603

217,380

192,143

177,645

164,479

INCOME BEFORE INCOME TAXES

63,517

152,873

170,484

162,883

175,023

127,604

100,556

52,559

33,718

62,278

46,163

Income taxes, current

-

-

-

-

-

-

-

18,434

23,152

26,854

15,495

Income taxes, deferred

-

-

-

-

-

-

-

3,813

-9,543

-1,560

1,881

Income tax expense

17,003

35,822

63,549

63,473

68,539

54,616

41,579

22,247

13,609

25,294

17,376

NET INCOME

46,514

117,051

106,935

99,410

106,484

72,988

58,977

30,312

20,109

36,984

28,787

Basic earnings per common share (in dollars per share)

1.37

3.36

3.07

2.85

3.06

2.17

1.64

0.76

0.51

0.95

0.76

Weighted average common shares outstanding - Basic (in shares)

33,893

34,856

34,841

34,919

34,799

33,569

35,866

39,614

39,184

39,113

37,618

Diluted earnings per common share (in dollars per share)

1.36

3.27

2.99

2.79

2.97

2.08

1.56

0.75

0.50

0.91

0.71

Weighted average common shares outstanding - Diluted (in shares)

34,233

35,786

35,809

35,650

35,884

35,150

37,776

40,616

40,442

40,579

40,790

Cash dividend declared per common share (in dollars per share)

0.77

0.73

0.69

0.69

0.63

0.55

0.49

0.46

0.32

0.32

0.54

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income

46,514

117,051

106,935

99,410

106,484

-

-

-

20,109

36,984

28,787

Change in net unrealized gains (losses) on available for sale investments, net of tax

-

-

-

-

-

-

-

-

-

-564

539

Comprehensive income (loss)

-

-

-

-

-

-

-

-

20,109

36,420

29,326