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Universal Insurance Holdings Announces Third Quarter 2020 Earnings Release and Conference Call Date

Universal Insurance Holdings Announces Third Quarter 2020 Earnings Release and Conference Call Date


Universal Insurance Holdings, Inc. (NYSE: UVE) will issue a press release reporting its third quarter results after the close of trading on the NYSE on Tuesday, October 27, 2020. The company will host a conference call on Wednesday, October 28, 2020, at 9:00 a.m. Eastern Time (ET) to discuss its third quarter 2020 financial results.


Conference Call and Webcast


  • Wednesday, October 28, 2020 at 9:00 a.m. ET

  • U.S Dial-in Number: (855) 752-6647

  • International: (503) 343-6667

  • Participant code: 5317328

  • Listen to live webcast and view presentation: UniversalInsuranceHoldings.com

  • Replay of the call will be available on the UVE website and by phone at (855) 859-2056 or internationally at (404) 537-3406 using the participant code: 5317328 through November 12, 2020


About Universal Insurance Holdings, Inc.


Universal Insurance Holdings (UVE) is a holding company offering property and casualty insurance and value-added insurance services. We develop, market, and write insurance products for consumers predominantly in the personal residential homeowners lines of business and perform substantially all other insurance-related services for our primary insurance entities, including risk management, claims management and distribution. We sell insurance products through both our appointed independent agents and through our direct online distribution channels in the United States across 18 states (primarily Florida). Learn more at UniversalInsuranceHoldings.com.

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Santander Consumer USA Holdings Inc (SC): Hedge Fund Sentiment Unchanged

Santander Consumer USA Holdings Inc (SC): Hedge Fund Sentiment Unchanged

We know that hedge funds generate strong, risk-adjusted returns over the long run, which is why imitating the picks that they are collectively bullish on can be a profitable strategy for retail investors. With billions of dollars in assets, professional investors have to conduct complex analyses, spend many resources and use tools that are not always available for the general crowd. This doesn’t mean that they don’t have occasional colossal losses; they do. However, it is still a good idea to keep an eye on hedge fund activity. With this in mind, let’s examine the smart money sentiment towards Santander Consumer USA Holdings Inc (NYSE:SC) and determine whether hedge funds skillfully traded this stock.

Hedge fund interest in Santander Consumer USA Holdings Inc (NYSE:SC) shares was flat at the end of last quarter. This is usually a negative indicator. Our calculations also showed that SC isn’t among the 30 most popular stocks among hedge funds (click for Q2 rankings and see the video for a quick look at the top 5 stocks). At the end of this article we will also compare SC to other stocks including Bunge Limited (NYSE:BG), Aluminum Corp. of China Limited (NYSE:ACH), and Store Capital Corporation (NYSE:STOR) to get a better sense of its popularity. Video: Watch our video about the top 5 most popular hedge fund stocks.

To most stock holders, hedge funds are assumed to be worthless, outdated financial tools of years past. While there are more than 8000 funds with their doors open at the moment, Our experts hone in on the elite of this group, approximately 850 funds. It is estimated that this group of investors orchestrate the majority of the smart money’s total asset base, and by watching their highest performing picks, Insider Monkey has figured out a few investment strategies

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AM Best Affirms Credit Ratings of International General Insurance Holdings Limited’s Subsidiaries

AM Best Affirms Credit Ratings of International General Insurance Holdings Limited’s Subsidiaries

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” of International General Insurance Co. Ltd., (IGICL) (Bermuda) and International General Insurance Company (UK) Limited (IGIUK) (United Kingdom). Concurrently, the rating of International General Insurance Holdings Limited (IGI) (United Arab Emirates), now an intermediary holding company, has been withdrawn at the company’s request. The outlook of these Credit Ratings (ratings) is stable.

At the same time, AM Best has assigned a Long-Term ICR of “bbb” to International General Insurance Holdings Limited (IGIC) (Bermuda). The outlook assigned to this rating is stable.

The ratings of IGI reflect its balance sheet strength, which AM Best categorises as very strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management (ERM).

On 17 March 2020, IGI and Tiberius Acquisition Corporation (Tiberius) announced the completion of their business combination. As part of the combination agreement, IGI exchanged its shares for common shares of IGIC, becoming a wholly owned subsidiary. IGIC is a new public company, listed on the Nasdaq, and is now the ultimate parent of the group. Tiberius and IGI raised approximately USD 146 million as part of the transaction, of which USD 41 million was added to IGI’s balance sheet.

IGI’s strong operating results have been underpinned by robust underwriting performance over the long term. However, the company’s performance is affected by foreign exchange movements, largely through exposure to GBP-denominated business from IGI’s growing U.K. book of business. The company reported a five-year average combined ratio of 92% (2015-2019), despite the impact of catastrophe losses in 2017. AM Best views IGI’s underwriting discipline as a key factor supporting its good financial results and expects the company to report strong, albeit potentially volatile, profits in prospective years.

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Lufax Holdings Looks To Capitalize On Ant Group’s Fintech Interest With An NYSE Listing

Lufax Holdings Looks To Capitalize On Ant Group’s Fintech Interest With An NYSE Listing

Key News

Asian equities were largely higher on light volumes, though the 50 stock Hang Seng Index was off a touch/-0.2% after rising off its intra-day low of -0.9%. The broader Hang Seng Composite gained +0.3% and the 204 Chinese companies listed in Hong Kong within the MSCI
MSCI
China All Shares Index gained +0.35%. Volumes have been anemic during the Chinese holiday, though things should pick up tomorrow as Shanghai & Shenzhen come back online. US-listed Chinese A-share ETFs are anticipating a healthy +3% open for the Mainland market tonight.

There was another quiet night in Hong Kong as the US focuses on the election and stimulus. Hong Kong volume leaders were Alibaba
BABA
Hong Kong, which gained +0.49%, Tencent, which was unchanged, Xiaomi, which fell -3.92%, Meituan Dianping, which fell -0.37%, BYD, which rose +5.94%, Sunny Optical, which rose +2.87% on the coming Apple
AAPL
release, Ping An Insurance, which gained +0.38% after Lufax Holdings, backed by Ping An Insurance, filed for a US listing, and JD.com Hong Kong, which was off a James Bond -0.07%. Macau gaming stocks were off as the Golden Week was less than Golden, based on weak visitor data due to coronavirus travel restrictions. Things should pick up tonight with Stock Connect, Shanghai, and Shenzhen reopening, though I predict volumes will really pick up next week. 

Mid-day yesterday, we had the announcement that the US would target Chinese mobile

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WestCongress Insurance Holdings LLC Announces Appointment of Steven H. Kerr as President and Chief Executive Officer

WestCongress Insurance Holdings LLC Announces Appointment of Steven H. Kerr as President and Chief Executive Officer

DETROIT, Oct. 8, 2020 /PRNewswire/ — WestCongress Insurance Holdings LLC, the parent company of WestCongress Insurance Services, a specialty insurance producer, and WestCongress Risk Services LLC, a claims administrator, today announced the appointment of Steven H. Kerr as its President and Chief Executive Officer.

Mr. Kerr’s background in the insurance marketplace spans more than 30 years, primarily with Marsh, a global leader in insurance broking and risk management. Most recently Mr. Kerr served Marsh’s Managing Director and Global Engagement Partner where he led Marsh’s largest global clients in a strategic risk consulting capacity.  Mr. Kerr also has extensive experience in wholesale and retail distribution and has led teams of producers in driving revenue growth, including serving as Marsh’s Chicago Office Head, as Growth Leader – Americas, and as CEO of Seabury and Smith, Marsh’s consumer and commercial products group.

“We are pleased to welcome Steve to the team. He is the right leader for WestCongress at this stage in our development,” Richard H. Smith, chairman of WestCongress stated. “His extensive background in specialty insurance and with excess and surplus lines distribution channels will help WestCongress strengthen its distribution relationships and expand its product offerings.”    

Mr. Kerr commented, “The WestCongress leadership team has built an excellent operation with a strong reputation in the wholesale broker community. I am pleased to join a company positioned for growth and am eager to be a part of taking WestCongress to the next level. We will be looking for every opportunity to streamline the current operation, expand product offerings, develop existing broker relationships and find new distribution channels.”

About WestCongress

WestCongress Insurance Services LLC is a specialty, surplus and excess lines insurance producer based in Detroit, Michigan. WestCongress offers primary and excess general liability insurance solutions throughout the United States for targeted

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