Universal third quarter profits up 40%

Floridian Universal Insurance saw net income jump by almost 40
percent in the final quarter of last year, to what it described as
a record level.
The carrier reported net income of $29.2mn for the quarter, up
from $21mn for the same period the previous year.
Diluted earnings per share (EPS) were $0.82 for the fourth
quarter, representing a year-on-year increase of $0.23.
Direct premiums climbed by 9 percent to $199.3mn, but net
written premiums surged from $84.1mn to $127.9mn...