Universal beats by curbing costs amid revenue gains

Universal Insurance Holdings' earnings beat forecasts as the
Floridian limited the bottom-line impact of larger-than-anticipated
catastrophe losses and improved its net combined ratio to 78.9
percent in the first quarter.
The property and casualty carrier said weather-related losses
exceeded plan by $3mn. Even so, net income increased almost 24
percent to $31.2mn, or $0.86 a share.
Two analysts who follow the Fort Lauderdale-based company had
forecast earnings ranging from $0.70 to $0.85 a share