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Exhibit 99.1
Universal Reports Third Quarter 2025 Results

•Diluted GAAP earnings per common share (EPS) of $1.38; diluted adjusted* EPS of $1.36
•Annualized return on average common equity (“ROCE”) of 33.4%, annualized adjusted* ROCE of 30.6%
•Direct premiums written of $592.8 million, up 3.2% from the prior year quarter
•Book value per share of $17.65, up 24.7% year-over-year; adjusted book value per share of $18.74, up 18.9% year-over-year
•Total capital returned to shareholders of $12.8 million, including $8.1 million of share repurchases and a $0.16 per share regular dividend
*Reconciliations of non-GAAP to GAAP financial measures are provided in the attached tables.

Fort Lauderdale, Fla., October 23, 2025 – Universal Insurance Holdings (NYSE: UVE) (“Universal” or the “Company”) reported third quarter 2025 results.

“It was a solid quarter, with a 30.6% adjusted return on common equity,” said Stephen J. Donaghy, Chief Executive Officer. “Our unique, organic business model allows us to consistently generate deep double digit ROEs, making us particularly well positioned to succeed in the much improved FL market.”

“Additionally, we commenced our annual actuarial review process considerably earlier this year and our findings are very encouraging. As we’ve discussed in recent periods, our reserving process has become more conservative, with a focus on protecting and increasing the resilience of our balance sheet. When we look at our current and prior accident year reserves in the aggregate, we believe we’re in a very strong position, further increasing our optimism as we turn a new chapter in the revamped FL market.”


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Summary Financial Results
($ in thousands, except per share data)
Three Months Ended September 30,
Nine Months Ended September 30,
2025
2024
Change
2025
2024
Change
GAAP comparison
Total revenues$400,981 $387,554 3.5 %$1,195,989 $1,135,727 5.3 %
Operating income (loss)$54,380 $(16,504)NM$159,442 $82,130 94.1 %
Operating income (loss) margin13.6 %(4.3)%
NM
13.3 %7.2 %6.1 pts
Net income (loss) available to common stockholders$39,827 $(16,166)NM$116,354 $52,902 119.9 %
Diluted earnings (loss) per common share$1.38 $(0.57)NM$4.03 $1.80 123.9 %
Annualized ROCE33.4 %(16.3)%
NM
35.7 %19.0 %16.7 pts
Book value per share, end of period$17.65 $14.15 24.7 %$17.65 $14.15 24.7 %
Non-GAAP comparison1
Core revenue$400,030 $381,401 4.9 %$1,195,823 $1,125,501 6.2 %
Adjusted operating income (loss)$53,429 $(22,657)NM$159,276 $71,904 121.5 %
Adjusted operating income (loss) margin13.4 %(5.9)%
NM
13.3 %6.4 %6.9 pts
Adjusted net income (loss) available to common stockholders$39,110 $(20,805)NM$116,229 $45,192 157.2 %
Adjusted diluted earnings (loss) per common share$1.36 $(0.73)NM$4.02 $1.54 161.0 %
Annualized adjusted ROCE30.6 %(18.3)%
NM
32.2 %14.1 %18.1  pts
Adjusted book value per share, end of period$18.74 $15.76 18.9 %$18.74 $15.76 18.9 %
Underwriting Summary
Premiums:
Premiums in force$2,135,237 $2,046,310 4.3 %$2,135,237 $2,046,310 4.3 %
Policies in force883,888 844,539 4.7 %883,888 844,539 4.7 %
Direct premiums written$592,774 $574,351 3.2 %$1,656,572 $1,598,797 3.6 %
Direct premiums earned$534,106 $507,745 5.2 %$1,570,788 $1,480,466 6.1 %
Ceded premiums earned$(174,430)$(162,009)7.7 %$(495,198)$(455,747)8.7 %
Ceded premium ratio32.7 %31.9 %0.8  pts31.5 %30.8 %0.7  pts
Net premiums earned$359,676 $345,736 4.0 %$1,075,590 $1,024,719 5.0 %
Net ratios:
Loss ratio70.2 %91.7 %(21.5) pts71.0 %78.1 %(7.1) pts
Expense ratio26.2 %25.2 %1.0  pts25.4 %24.7 %0.7  pts
Combined ratio96.4 %116.9 %(20.5) pts96.4 %102.8 %(6.4) pts
1 Reconciliation of non-GAAP to GAAP financial measures are provided in the attached tables. Adjusted net income (loss) available to common stockholders, adjusted diluted earnings (loss) per common share and core revenue exclude net realized gains (losses) on investments and net change in unrealized gains (losses) on investments. Adjusted operating income (loss) excludes the items above and interest and amortization of debt issuance costs. Adjusted book value per share excludes accumulated other comprehensive income (loss), net of taxes. Adjusted ROCE is calculated by dividing annualized adjusted net income (loss) available to common stockholders by average adjusted book value per share, with the denominator further excluding current period after-tax net realized gains (losses) on investments and net change in unrealized gains (losses) on investments.
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Net Income and Adjusted Net Income
Net income available to common stockholders was $39.8 million, compared to a net loss of $16.2 million in the prior year quarter, and adjusted net income available to common stockholders was $39.1 million, compared to a net loss of $20.8 million in the prior year quarter. The higher adjusted net income available to common stockholders mostly stems from a lower net loss ratio and higher net premiums earned, net investment income and commission revenue.

Revenues
Revenue was $401.0 million, up 3.5% from the prior year quarter and core revenue was $400.0 million, up 4.9% from the prior year quarter. The increase in core revenue primarily stems from higher net premiums earned, net investment income and commission revenue.

Direct premiums written were $592.8 million, up 3.2% from the prior year quarter. The increase stems from 22.2% growth in other states, partly offset by a 2.6% decrease in Florida. Overall growth mostly reflects higher policies in force, higher rates and inflation adjustments across our multi-state footprint.

Direct premiums earned were $534.1 million, up 5.2% from the prior year quarter. The increase stems from direct premiums written growth over the past twelve months.

The ceded premium ratio was 32.7%, up from 31.9%, in the prior year quarter. The increase primarily reflects the purchase of additional reinsurance coverage relative to the prior year quarter.

Net premiums earned were $359.7 million, up 4.0% from the prior year quarter. The increase is primarily attributable to higher direct premiums earned, partly offset by a higher ceded premium ratio, as described above.

Net investment income was $18.3 million, up from $15.4 million in the prior year quarter. The increase stems from higher fixed income reinvestment yields and higher invested assets.

Commissions, policy fees and other revenue were $22.0 million, up 8.7% from the prior year quarter. The increase primarily reflects higher reinsurance brokerage commissions stemming from the purchase of additional reinsurance coverage relative to the prior year quarter.

Margins
The operating income margin was 13.6%, compared to an operating loss margin of 4.3% in the prior year quarter. The adjusted operating income margin was 13.4%, compared to an adjusted operating loss margin of 5.9% in the prior year quarter. The higher adjusted operating income margin primarily stems from a lower net loss ratio and higher core revenue.

The net loss ratio was 70.2%, down 21.5 points compared to the prior year quarter. The decrease reflects the inclusion of Hurricanes Debby and Helene in the prior year quarter and the lack of hurricane activity in the current year quarter.

The net expense ratio was 26.2%, up 1.0 points from 25.2% in the prior year quarter. The increase was primarily driven by a higher ceded premium ratio and higher policy acquisition costs associated with growth outside Florida.

The net combined ratio was 96.4%, down 20.5 points compared to the prior year quarter. The decrease reflects a lower net loss ratio, partly offset by a higher net expense ratio, as described above.

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Capital Deployment
During the third quarter, the Company repurchased approximately 347 thousand shares at an aggregate cost of $8.1 million. The Company’s current share repurchase authorization program has approximately $7.1 million remaining.

On July 9, 2025, the Board of Directors declared a quarterly cash dividend of 16 cents per share of common stock, payable on August 8, 2025, to shareholders of record as of the close of business on August 1, 2025.

Conference Call and Webcast
•Friday, October 24, 2025 at 10:00 a.m. ET
•Investors and other interested parties may listen to the call by accessing the online, real-time webcast at universalinsuranceholdings.com/investors or by registering in advance via teleconference at https://register-conf.media-server.com/register/BIeb9ca2931a194b81a76a3131a4017eb2. Once registration is completed, participants will be provided with a dial-in number containing a personalized conference code to access the call. An online replay of the call will be available at universalinsuranceholdings.com/investors soon after the investor call concludes.

About Universal
Universal Insurance Holdings, Inc. (NYSE: UVE) is a holding company providing property and casualty insurance and value-added insurance services. We develop, market, and write insurance products for consumers predominantly in the personal residential homeowners lines of business and perform substantially all other insurance-related services for our primary insurance entities, including risk management, claims management and distribution. We provide insurance products in the United States through both our appointed independent agents and our direct online distribution channels, primarily in Florida. Learn more at universalinsuranceholdings.com or get an insurance quote at Clovered.com.

Non-GAAP Financial Measures and Key Performance Indicators
This press release contains non-GAAP financial measures within the meaning of Regulation G promulgated by the U.S. Securities and Exchange Commission (“SEC”), including core revenue, adjusted net income (loss) available to common stockholders and diluted adjusted earnings (loss) per common share, which exclude the impact of net realized gains (losses) on investments and net change in unrealized gains (losses) on investments. Adjusted operating income (loss) and adjusted operating income (loss) margin exclude the impact of net realized gains (losses) on investments and net change in unrealized gains (losses) on investments and interest and amortization of debt issuance costs. Adjusted common stockholders’ equity and adjusted book value per share exclude accumulated other comprehensive income (loss) (AOCI), net of taxes. Adjusted return on common equity excludes after-tax net realized gains (losses) on investments and net change in unrealized gains (losses) on investments from the numerator and AOCI, net of taxes, and current period after-tax net realized gains (losses) on investments and net change in unrealized gains (losses) on investments from the denominator. A “non-GAAP financial measure” is generally defined as a numerical measure of a company’s historical or future performance that excludes or includes amounts, or is subject to adjustments, so as to be different from the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles (“GAAP”). UVE management believes that these non-GAAP financial measures are meaningful, as they allow investors to evaluate underlying revenue and profitability trends and enhance comparability across periods. When considered together with the GAAP financial measures, management believes these metrics provide information that is useful to investors in understanding period-over-period operating results separate and apart from items that may, or could, have a disproportionately positive or negative impact on results in any particular period. UVE management also believes that these non-GAAP financial measures enhance the ability of investors to analyze UVE’s business trends and to understand UVE’s operational performance. UVE’s management utilizes these non-GAAP financial measures as guides in long-term
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planning. Non-GAAP financial measures should be considered in addition to, and not as a substitute for or superior to, financial measures presented in accordance with GAAP. For more information regarding our key performance indicators, please refer to the section titled “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Key Performance Indicators” in our forthcoming Quarterly Report on Form 10-Q for the quarter ended September 30, 2025.

Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe,” “expect,” “anticipate,” “will,” “plan,” and similar expressions identify forward-looking statements, which speak only as of the date the statement was made. Such statements may include commentary on plans, products and lines of business, marketing arrangements, reinsurance programs, other business developments, projections, and estimates, and assumptions relating to the foregoing. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Important factors that could cause our actual results or performance to differ materially from those contained in or implied by our forward-looking statements include, but are not limited to, the following:
•we may face significant losses, and our financial results may vary from period to period, due to exposure to catastrophic events and severe weather conditions, the frequency and severity of which could be affected by climate change;
•if we fail to adequately price the risks we underwrite and/or the estimates we make, or if emerging trends outpace our ability to adjust prices timely, or if we lose desirable exposures to competitors by overpricing our risks, we may experience underwriting losses depleting surplus at the Insurance Entities and capital at the holding company;
•unanticipated increases in the severity or frequency of claims adversely affect our profitability and financial condition;
•the failure of the risk mitigation strategies we utilize could have a material adverse effect on our financial condition or results of operations; and
•the risks and uncertainties, as they may be amended from time to time, set forth in our filings with the U.S. Securities and Exchange Commission, including under the heading “Risk Factors” and “Liquidity and Capital Resources” in our most recent Annual Report on Form 10-K, and supplemented in our subsequent Quarterly Reports on Form 10-Q.

Although we believe that the expectations reflected in any of our forward-looking statements are reasonable, actual results or outcomes could differ materially from those projected or assumed in any of our forward-looking statements. There may be other factors not presently known to us or which we currently consider to be immaterial that could cause our actual results to differ materially from those projected in any forward-looking statements we make. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. For further information regarding risk factors that could affect the Company’s operations and future results, refer to the Company’s reports filed with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K and the most recent quarterly reports on Form 10-Q.


Investors/Media:
Arash Soleimani, CFA, CPA, CPCU, ARe
Chief Strategy Officer
954-804-8874
asoleimani@universalproperty.com
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UNIVERSAL INSURANCE HOLDINGS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(in thousands, except per share data)
September 30,December 31,
20252024
ASSETS:
Invested Assets
  Fixed maturities, at fair value$1,413,621 $1,269,079 
  Equity securities, at fair value95,992 77,752 
  Other investments, at fair value3,903 16,123 
  Investment real estate, net5,425 8,322 
  Total invested assets1,518,941 1,371,276 
Cash and cash equivalents405,114 259,441 
Restricted cash and cash equivalents69,110 2,635 
Prepaid reinsurance premiums465,016 262,716 
Reinsurance recoverable315,964 627,617 
Premiums receivable, net82,398 77,936 
Property and equipment, net49,931 48,653 
Deferred policy acquisition costs132,658 121,178 
Deferred income tax asset, net
18,949 42,163 
Goodwill2,319 2,319 
Other assets29,245 25,927 
TOTAL ASSETS$3,089,645 $2,841,861 
LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES:
Unpaid losses and loss adjustment expenses$682,589 $959,291 
Unearned premiums1,146,230 1,060,446 
Advance premium78,710 46,237 
Income taxes payable
3,664 6,561 
Reinsurance payable, net501,809 220,328 
Commission payable
28,178 25,931 
Long-term debt, net100,671 101,243 
Other liabilities and accrued expenses
52,751 48,574 
Total liabilities
2,594,602 2,468,611 
STOCKHOLDERS' EQUITY:
Cumulative convertible preferred stock ($0.01 par value)2
— — 
Common stock ($0.01 par value)3
481 475 
Treasury shares, at cost - 20,016 and 19,382
(298,194)(282,693)
Additional paid-in capital124,063 121,781 
Accumulated other comprehensive income (loss), net of taxes(30,755)(63,166)
Retained earnings699,448 596,853 
Total stockholders' equity
495,043 373,250 
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY$3,089,645 $2,841,861 
Notes:
2 Cumulative convertible preferred stock ($0.01 par value): Authorized - 1,000 shares; Issued - 10 and 10 shares; Outstanding - 10 and 10 shares; Minimum liquidation preference - $9.99 and $9.99 per share.
3 Common stock ($0.01 par value): Authorized - 55,000 shares; Issued - 48,064 and 47,478 shares; Outstanding 28,048 and 28,096 shares.



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UNIVERSAL INSURANCE HOLDINGS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(in thousands)
Three Months EndedNine Months Ended
September 30,September 30,
2025202420252024
REVENUES
  Net premiums earned
$359,676 $345,736 $1,075,590 $1,024,719 
Net investment income 18,337 15,406 51,655 43,589 
Net realized gains (losses) on investments(345)(1,146)4,921 (1,534)
  Net change in unrealized gains (losses) on investments
1,296 7,299 (4,755)11,760 
Commission revenue14,598 12,959 46,727 35,671 
Policy fees5,389 5,194 15,485 15,175 
Other revenue2,030 2,106 6,366 6,347 
Total revenues400,981 387,554 1,195,989 1,135,727 
EXPENSES
Losses and loss adjustment expenses252,279 316,955 763,139 800,714 
  Policy acquisition costs
63,594 58,665 186,046 170,100 
  Other operating expenses
30,728 28,438 87,362 82,783 
Total operating costs and expenses346,601 404,058 1,036,547 1,053,597 
Interest and amortization of debt issuance costs1,603 1,619 4,823 4,864 
Income (loss) before income tax expense (benefit)52,777 (18,123)154,619 77,266 
Income tax expense (benefit)12,947 (1,960)38,257 24,356 
NET INCOME (LOSS)$39,830 $(16,163)$116,362 $52,910 


UNIVERSAL INSURANCE HOLDINGS, INC. AND SUBSIDIARIES
SHARE AND PER SHARE INFORMATION
(in thousands, except per share data)
Three Months EndedNine Months Ended
September 30,September 30,
2025202420252024
Weighted average common shares outstanding - basic27,851 28,355 27,971 28,607 
Weighted average common shares outstanding - diluted28,808 28,355 28,903 29,317 
Shares outstanding, end of period28,048 28,286 28,048 28,286 
Basic earnings (loss) per common share$1.43 $(0.57)$4.16 $1.85 
Diluted earnings (loss) per common share$1.38 $(0.57)$4.03 $1.80 
Cash dividend declared per common share$0.16 $0.16 $0.48 $0.48 
Book value per share, end of period$17.65 $14.15 $17.65 $14.15 
Annualized return on average common equity (ROCE)33.4 %(16.3)%35.7 %19.0 %



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UNIVERSAL INSURANCE HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTARY INFORMATION
(in thousands, except for Policies In Force data)
Three Months EndedNine Months Ended
September 30,September 30,
2025202420252024
Premiums
     Direct premiums written - Florida$428,635 $440,018 $1,222,395 $1,255,861 
     Direct premiums written - Other States164,139 134,333 434,177 342,936 
Direct premiums written - Total$592,774 $574,351 $1,656,572 $1,598,797 
Direct premiums earned$534,106 $507,745 $1,570,788 $1,480,466 
Net premiums earned$359,676 $345,736 $1,075,590 $1,024,719 
Underwriting Ratios - Net
Loss and loss adjustment expense ratio70.2 %91.7 %71.0 %78.1 %
General and administrative expense ratio
26.2 %25.2 %25.4 %24.7 %
   Policy acquisition cost ratio
17.7 %17.0 %17.3 %16.6 %
  Other operating expense ratio8.5 %8.2 %8.1 %8.1 %
Combined ratio96.4 %116.9 %96.4 %102.8 %
As of
September 30,
20252024
Policies in force
Florida561,546 570,432 
Other States322,342 274,107 
Total883,888 844,539 
Premiums in force
Florida$1,572,199 $1,609,836 
Other States563,038 436,474 
Total$2,135,237 $2,046,310 
Total Insured Value
Florida$184,971,114 $187,639,152 
Other States200,031,575 160,357,285 
Total$385,002,689 $347,996,437 








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UNIVERSAL INSURANCE HOLDINGS, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(in thousands, except for per share data)
GAAP revenue to core revenue
Three Months EndedNine Months Ended
September 30,September 30,
2025202420252024
GAAP revenue$400,981 $387,554 $1,195,989 $1,135,727 
less: Net realized gains (losses) on investments(345)(1,146)4,921 (1,534)
less: Net change in unrealized gains (losses) on investments
1,296 7,299 (4,755)11,760 
Core revenue$400,030 $381,401 $1,195,823 $1,125,501 

GAAP operating income (loss) to adjusted operating income (loss)
Three Months EndedNine Months Ended
September 30,September 30,
2025202420252024
GAAP income (loss) before income tax expense (benefit)
$52,777 $(18,123)$154,619 $77,266 
add: Interest and amortization of debt issuance costs1,603 1,619 4,823 4,864 
GAAP operating income (loss)54,380 (16,504)159,442 82,130 
less: Net realized gains (losses) on investments(345)(1,146)4,921 (1,534)
less: Net change in unrealized gains (losses) on investments
1,296 7,299 (4,755)11,760 
Adjusted operating income (loss)$53,429 $(22,657)$159,276 $71,904 

GAAP operating income (loss) margin to adjusted operating income (loss) margin
Three Months EndedNine Months Ended
September 30,September 30,
2025202420252024
GAAP operating income (loss) (a)$54,380 $(16,504)$159,442 $82,130 
GAAP revenue (b)400,981 387,554 1,195,989 1,135,727 
GAAP operating income (loss) margin (a÷b)13.6 %(4.3)%13.3 %7.2 %
Adjusted operating income (loss) (c)53,429 (22,657)159,276 71,904 
Core revenue (d)400,030 381,401 1,195,823 1,125,501 
Adjusted operating income (loss) margin (c÷d)13.4 %(5.9)%13.3 %6.4 %
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GAAP net income (NI) (loss) to adjusted NI available to common stockholders
Three Months EndedNine Months Ended
September 30,September 30,
2025202420252024
GAAP NI (loss)$39,830 $(16,163)$116,362 $52,910 
less: Preferred dividends3 3 8 8 
GAAP NI (loss) available to common stockholders (e)39,827 (16,166)116,354 52,902 
less: Net realized gains (losses) on investments(345)(1,146)4,921 (1,534)
less: Net change in unrealized gains (losses) on investments
1,296 7,299 (4,755)11,760 
add: Income tax effect on above adjustments234 1,514 41 2,516 
Adjusted NI (loss) available to common stockholders (f)$39,110 $(20,805)$116,229 $45,192 
Weighted average diluted common shares outstanding (g)28,808 28,355 28,903 29,317 
Diluted earnings (loss) per common share (e÷g)$1.38 $(0.57)$4.03 $1.80 
Diluted adjusted earnings (loss) per common share (f÷g)$1.36 $(0.73)$4.02 $1.54 

GAAP stockholders’ equity to adjusted common stockholders’ equity
As of
September 30,December 31,
202520242024
GAAP stockholders’ equity$495,043 $400,245 $373,250 
less: Preferred equity100100100
Common stockholders’ equity (h)494,943 400,145 373,150 
less: Accumulated other comprehensive (loss), net of taxes(30,755)(45,593)(63,166)
Adjusted common stockholders’ equity (i)$525,698 $445,738 $436,316 
Common shares outstanding (j)
28,048 28,286 28,096 
Book value per common share (h÷j)$17.65 $14.15 $13.28 
Adjusted book value per common share (i÷j)$18.74 $15.76 $15.53 

GAAP return on common equity (ROCE) to adjusted ROCE
Three Months EndedNine Months EndedYear Ended
September 30,September 30,December 31,
20252024202520242024
Actual or Annualized NI (loss) available to common stockholders (k)$159,308 $(64,664)$155,139 $70,536 $58,918 
Average common stockholders’ equity (l)476,326 396,641 434,047 370,671 357,174 
ROCE (k÷l)33.4 %(16.3)%35.7 %19.0 %16.5 %
Annualized adjusted NI (loss) available to common stockholders (m)$156,440 $(83,220)$154,972 $60,256 $52,418 
Adjusted average common stockholders’ equity4 (n)
511,736 454,977 480,945 426,699 422,593 
Adjusted ROCE (m÷n)30.6 %(18.3)%32.2 %14.1 %12.4 %
4 Adjusted average common stockholders’ equity excludes current period after-tax net realized gains (losses) on investments and net change in unrealized gains (losses) on investments.
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