Universal Insurance Holdings, Inc.has bought $110 million more in reinsurance limit at its 2025 renewal, taking the top of the reinsurance tower for its subsidiaries to $2.526 billion, with ILS manager Nephila Capital once again cited as a key counterpart.Once again, Universal has opted not to visit the catastrophe bond market for part of its reinsurance renewal again this year.The company last sponsored a catastrophe bond back in 2021 and did not renew the Cosaint Re cat bond last year after its maturity.

But, Universal continues to benefit from reinsurance capacity provided by capital market investors, in part through its long-standing relationship with insurance-linked securities (ILS) investment manager Nephila Capital, as well as through other counterparts.For its underwriting subsidiaries Universal Property & Casualty Insurance Company (UPCIC) and American Platinum Property and Casualty Insurance Company (APCIC), Universal has renewed its combined reinsurance tower for a single All States (including Florida) event at $2.526 billion for the 2025 to 2026 year.“We are pleased to announce the completion of the 2025-2026 reinsurance program for our insurance companies,” explained Matthew J.

Palmieri, Chief Risk Officer.“2024 was an active hurricane year in Florida and the southeast overall, most notably including Hurricanes Helene and Milton.As always, our reinsurance partners responded with unwavering support, providing the liquidity needed to help our policyholders restore their homes and their lives.

“We are well prepared for the 2025 Atlantic hurricane season, with another strong reinsurance program and were able to add more traditional market multi-year capacity which goes through the 2026-2027 treaty period.” The company cited “no material changes to historical reinsurance partners or terms and conditions” at its reinsurance renewal for 2025, but it has added multi-year protection to lock-in conditions.Universal added $352 million of multi-year coverage, which extends through the 2026-2027 treaty period, with most of this sitting in the lower layers, below the FHCF.Some $277 million of that multi-year reinsurance sits below the FHCF participation, while $75 million sits above the FHCF layer.

Its largest reinsurance counterparts were Nephila Capital working with Markel, RenaissanceRe, Munich Re, Chubb Tempest Re, Ariel Re, Everest Re and Lloyd’s of London syndicates, Universal said.ILS manager Nephila Capital has been one of the largest reinsurance counterparts for Universal for many years, with the pair having a long-standing relationship.Finally, Universal said that the state of Florida now represents less than 50% of its total insured values from states exposed to the 2025 Atlantic hurricane season, while the combined $45 million All States (including Florida) first event retention for its underwriting entities remains unchanged from the prior year.

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