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Universal Insurance Holdings, Inc. of Ft. Lauderdale reported net income of $1.0 million, or $0.02 per diluted share, in the third quarter of 2011, compared to net income of $13.1 million, or $0.32 per diluted share, for the same period in 2010. For the first nine months of 2011, the company reported net income of $22.4 million, or $0.55 per diluted share, compared to $30.8 million, or $0.76 per diluted share, for the same period of 2010. While net premiums earned improved nominally, the company’s profitability decreased primarily as a result of net unrealized losses on investments during the 2011 third quarter.

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