Universal Insurance Holdings has raised the top end of its catastrophe reinsurance protection for the 2026-2027 treaty year, giving its two insurance subsidiaries coverage of up to $2.623 billion for a single all-states event, including Florida.
The program covers Universal Property & Casualty Insurance Company and American Platinum Property and Casualty Insurance Company - both wholly owned insurance subsidiaries of Universal. It takes effect June 1, 2026.
The new reinsurance tower is about $50 million higher than the level set for the 2025-2026 treaty period. Universal said the companies’ combined first-event statutory retention remains unchanged at $45 million.
Universal also secured added protection for future years. UPCIC obtained $352 million in catastrophe capacity with limits that extend to the 2027-2028 treaty period. Of that amount, $277 million sits below the Florida Hurricane Catastrophe Fund layer.
“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 stabilized 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 chief risk officer Matthew J. Palmieri said.
The company also noted that Florida now represents less than half of its total insured value. As of March 31, 2026, Florida accounted for less than 50% of Universal’s total insured value.
The shift comes as Universal continues to grow its business outside Florida. In the first quarter of 2026, direct premiums written in other states increased to $145.6 million from $123 million a year earlier, while policies in force outside Florida rose to 336,179 from 301,972.
