Universal beats despite 13% drop in earnings

Universal Insurance Holdings' net income slimmed to $29.4mn
in the second quarter on a premium base that swelled 8.9 percent
partly driven by the insurer's crusade beyond its Florida
heartland.
But despite the 12.7 percent drop in net earnings compared to
the same period last year, the $0.82 per share result still
surpassed the expectations of two analysts surveyed by MarketWatch
who forecast no more than $0.80 per share and no less than
$0.73.
Nonetheless, the carrier's chairman and CEO...