FORT LAUDERDALE, Fla.,
Jan. 20, 2015 /PRNewswire/
-- Universal Insurance Holdings, Inc. (NYSE: UVE)
announced today that the Indiana Department of Insurance has
approved the homeowners insurance forms of its wholly-owned
subsidiary, Universal Property & Casualty Insurance Company
("UPCIC"), and that UPCIC has subsequently written its first
homeowners insurance policy in Indiana.
Sean P. Downes, the Company's
Chairman, President and Chief Executive Officer, stated, "We are
pleased to write our first homeowners insurance policy in
Indiana, the Company's ninth
state of operation. Demand for our insurance products and services
remain healthy, supporting our successful geographic expansion
efforts. We look forward to expanding our network of
independent agents in Indiana and
offering our insurance products to citizens of the
state."
UPCIC is one of the leading writers of homeowners insurance in
Florida and is fully licensed to
offer its homeowners insurance products in North Carolina, South Carolina, Hawaii, Georgia, Massachusetts, Maryland, Delaware, Indiana and Pennsylvania.
About Universal Insurance Holdings, Inc.
Universal
Insurance Holdings, Inc., with its wholly-owned subsidiaries, is a
vertically integrated insurance holding company performing all
aspects of insurance underwriting, distribution and claims.
Universal Property & Casualty Insurance Company (UPCIC), a
wholly-owned subsidiary of the Company, is one of the leading
writers of homeowners insurance in Florida and is now fully licensed and has
commenced its operations in North
Carolina, South Carolina,
Hawaii, Georgia, Massachusetts, Maryland, Delaware and Indiana. American Platinum Property and
Casualty Insurance Company, also a wholly-owned subsidiary,
currently writes homeowners multi-peril insurance on Florida homes valued in excess of $1 million, which are limits and coverages
currently not targeted through its affiliate UPCIC. For additional
information on the Company, please visit our investor relations
website at www.universalinsuranceholdings.com.
Forward-Looking Statements and Risk Factors
This
press release may contain "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
The words "believe," "expect," "anticipate," and similar
expressions identify forward-looking statements, which speak only
as of the date the statement was made. Such statements may include
commentary on plans, products and lines of business, marketing
arrangements, reinsurance programs and other business developments
and assumptions relating to the foregoing. Forward-looking
statements are inherently subject to risks and uncertainties, some
of which cannot be predicted or quantified. Future results could
differ materially from those described and the Company undertakes
no obligation to correct or update any forward-looking statements.
For further information regarding risk factors that could affect
the Company's operations and future results, refer to the Company's
reports filed with the Securities and Exchange Commission,
including the Form 10-K for the year ended December 31, 2013 and the Form 10-Q for the
quarter ended September 30, 2014.
Investor Contact:
Andy Brimmer / Mahmoud
Siddig
Joele Frank, Wilkinson Brimmer
Katcher
212-355-4449
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SOURCE Universal Insurance Holdings, Inc.