FORT LAUDERDALE, Fla.,
Dec. 15, 2015 /PRNewswire/
-- Universal Insurance Holdings, Inc. (NYSE: UVE)
announced today that the New Hampshire Insurance Department issued
a Certificate of Authority to Universal Property & Casualty
Insurance Company (UPCIC), a wholly-owned subsidiary of Universal
Insurance Holdings, Inc., approving UPCIC as a licensed insurance
entity in New Hampshire.
Sean P. Downes, the Company's
Chairman, President and Chief Executive Officer, stated, "We are
pleased to have successfully completed the regulatory approval
process to enter into the New
Hampshire market. This marks the seventh new state we
have received approval in this year. We look forward to
developing strong relationships with independent agents in
New Hampshire and offering our
insurance products to consumers as we build our business in the
state. This approval represents another step in our
successful geographic expansion effort, a core element of our
growth strategy."
UPCIC is one of the leading writers of homeowners insurance
nationally and is licensed to offer its homeowners insurance
products in Florida, North Carolina, South Carolina, Hawaii, Georgia, Massachusetts, Maryland, Delaware, Indiana, Pennsylvania, Michigan, Minnesota, Virginia, Alabama, West
Virginia and New
Hampshire.
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, Indiana, Pennsylvania and Minnesota. 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, 2014
and the Form 10-Q for the quarter ended September 30, 2015.
Investor Contact:
Andy Brimmer / Mahmoud
Siddig
Joele Frank, Wilkinson Brimmer
Katcher
212-355-4449
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SOURCE Universal Insurance Holdings, Inc.