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Universal Insurance cedes $109.2mn prior-year losses in Q2

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Universal Insurance Holdings ceded $109.2mn of prior-year losses to reinsurers in Q2, up nearly 900% on the year-ago figure of just $11.1mn, as the firm’s CFO Frank Wilcox said there had been adverse development on losses from hurricanes Irma, Sally, Michael and to a lesser extent, Matthew.

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