FORT LAUDERDALE, Fla.,
Nov. 20, 2013 /PRNewswire/ --
Universal Insurance Holdings, Inc. ("Universal" or the "Company")
(NYSE MKT: UVE) announced today that it will transfer the
listing of its common stock from NYSE MKT to the New York Stock
Exchange ("NYSE") effective with the start of trading on
December 3, 2013. The Company's
common stock will continue to trade under its existing ticker
symbol "UVE" on the NYSE. The Company's common stock will
continue to trade on the NYSE MKT until the transfer is
complete.
Chairman, President and CEO Sean
Downes commented, "Our listing on the NYSE marks another
significant milestone in what has been a transformative year for
our Company. With a growing national footprint and expanding
product portfolio, as well as a new generation of leadership,
Universal is well positioned to drive value for our
shareholders. As the Company continues to execute its
strategy for growth, we believe that our transfer to the NYSE will
enhance our visibility to institutional and retail shareholders and
access to the capital markets."
"Universal has continuously made great progress since its
listing on NYSE MKT, and we look forward to a continued partnership
with the Company and its shareholders as they transition to our
NYSE platform," said Scott Cutler,
Executive Vice President, Head of Global Listings, NYSE Euronext.
"This is an excellent example of a growth oriented company that
will continue to leverage NYSE's advanced and innovative market
model."
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 and Maryland. 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, 2012 and the Form 10-Q for the
quarter ended September 30, 2013.
Investor Contact:
Andy Brimmer / Steve
Frankel / Mahmoud Siddig
Joele Frank, Wilkinson Brimmer
Katcher
212-335-4999
SOURCE Universal Insurance Holdings, Inc.