UNIVERSAL INSURANCE HOLDINGS INC

Ladies and gentlemen, thank you for standing by. Welcome to UVE's second quarter 2020 earnings conference call. At this time, participant lines are in a listen-only mode. After the speaker presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 on your telephone. Please be advised that today's conference is being recorded. If you require any further assistance, please press star 0. I would now like to hand the conference to your speaker today, Rob Luther, Vice President of Corporate Strategy and Investor Relations. Please go ahead, sir.

Thank you, and good morning, everyone. Welcome to our discussion on our second quarter 2020 earnings results, which were reported yesterday. On the call with me today is Steve Donaghy, Chief Executive Officer, John Springer, President and Chief Risk Officer, and Frank Wilcox, Chief Financial Officer. Before we begin, please note today's discussions may contain forward-looking statements and non-GAAP financial measures. Forward-looking statements involve assumptions, risks, and uncertainties that could cause actual results to differ materially from those statements. For more information, please see the press release, our earnings presentation, and UVE's SEC filings, all of which are available on the investor section of our website at universalinsuranceholdings.com and on the SEC's website. A reconciliation of non-GAAP financial measures to comparable GAAP measures is included in the quarterly press release. With that, Steve, I'll turn it over to you.

Thank you, Rob, and good morning, everyone. Thank you for joining us today. Yesterday, we reported solid second quarter results underpinned by strong top-line growth as a result of pockets of attractive pricing and volume, resulting in an annualized return on average equity in the first half of 2020 of 15.5%. In addition, we continue to enter new states as an agent serving independent third-party carriers with our digital insurance agency, Cloverd. We launched Cloverd just over a year ago and continue to add partners and expand its offerings to consumers while enhancing the overall digital experience. Cloverd continues to be an attractive growth opportunity for us with approximately 40% premium growth from the year-ago quarter to its total book of business while growing non-risk-bearing business by over 200% in the same time period. The shift to online policy acquisition continues to grow in part due to a very desirable refinance and new home market. Clover represents Universal Property & Casualties' fastest growing agency across its nearly 10,000 independent agents. Though we are off to a solid start to the first half of the year overall, including the successful completion of our reinsurance renewal on time and on budget, we are taking a more measured approach to guidance as a result of previously announced Historically above average weather events in the second quarter. Our liquidity and ability to drive growth remains strong, and we continue to execute for our consumers and stakeholders. So with that, let me now turn it over to Frank to walk through our financial results. Frank.