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Universal Insurance Holdings Inc. Message Board

ballen2123 3 posts  |  Last Activity: Jul 11, 2014 6:38 PM Member since: Aug 21, 2010
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  • Reply to

    Reinsurance contracts 2014-1015

    by ballen2123 Jul 6, 2014 9:08 PM
    ballen2123 ballen2123 Jul 11, 2014 6:38 PM Flag

    While I agree that your analysis of the Florida property insurance sector is in a profitable situation, there are differences in the four main players. UVE and HCI are different from each other but they both were paying huge dividend to shareholders through the period when FNHC (once TCHC) and UIHC were in consolidation . HCI has grown just through take out policies from citizens, there business strategy has many flaws. The only two players that when looking at the numbers are value/growth investments are FNHC and UIHC. The other point I have seen is that UIHC and UVE are both pushing for policies outside of Florida. HCI is the worst of the bunch but that is my opinion based on the corporate strategy. HCI just bought out another company to gain policies and UIHC was going to buy Sunshine State Insurance but it was terminated. How is it that FNHC has no problem gaining policies and growing at this alarming rate while other players are in need to grow inorganically or move outside the state? FNHC has made it clear that Florida is there bread and butter and there ability to bring a great service to policyholders is creating goodwill in the market place. The growth story could just be beginning.

    Sentiment: Strong Buy

  • Mr. Braun (CEO) has shown a great ability to lead Federated National Holding Company in a honest and positive direction. The numbers speak for themselves. The growth in gross written premiums, earned premium, and bottom line profit to shareholders should contest anyone that has a willingness to go against this well managed corporation. I could write a book contesting those that think differently but the facts are the facts. Reinsurance contracts cost being up are only relative to gross written premium, managements ability (specifically Mr. Braun) to grow Federated National going forward has been proven in the numbers. I can show numbers all day but when you listen to the conference calls, analyze the numbers, and understand the honest management that is in place you will come to the same conclusion that I have.

    Mr. Braun stated in the first quarter conference call that reinsurance would double from 68 million we came in at an estimate of 117 million that is a decrease fabulousoodle.

  • I would say in most situations that insiders selling shares is a negative. The CEO and CFO of FNHC sold some shares but not all of the shares that they exercised in there options. The Chairman of the board (Simberg) has not sold a share. Simberg stands to lose a lot if things are going bad. Remember that the CEO and CFO were not buying up shares when Simberg was when the stock was at much lower prices. Looking at the increase in earnings in the first quarter, I foresee earnings of 1.00-1.10 in the second quarter roughly a 3.5-4 million increase from the first quarter.

    Sentiment: Strong Buy

UVE
12.78+0.04(+0.31%)Jul 23 4:07 PMEDT

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