FORT LAUDERDALE, Fla.,
June 16, 2016 /PRNewswire/
--Universal Insurance Holdings, Inc. (NYSE: UVE) announced
today that Universal Direct® (www.universaldirect.com), its
Direct-to-Consumer online platform for Universal Property &
Casualty Insurance Company ("UPCIC") products, has written its
first homeowners insurance policy in Minnesota. With the
addition of Minnesota, Universal
Direct® is now available to customers in two states, including
Pennsylvania, with the intention
to add additional states in the coming months. Independent
appointed agents operating in Minnesota and Pennsylvania have the opportunity to receive
commissions from policies written by UPCIC via Universal
Direct®.
Sean P. Downes, the Company's
Chairman and Chief Executive Officer, stated, "With Universal
Direct®, we are simplifying the process of purchasing homeowners
insurance by providing customers an easy-to-use online platform to
directly purchase, pay for and bind policies without the need to
interface with any intermediaries. The feedback from customers who
have purchased policies through Universal Direct® has been
encouraging, and we look forward to further growing this unique
offering."
For additional information about Universal Direct®, please
visit www.universaldirect.com.
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, Minnesota and Michigan. 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 Form 10-K for the year ended December 31, 2015 and the Form 10-Q for the
quarter ended March 31, 2016.
Investor Contact:
Andy Brimmer / Mahmoud Siddig
Joele Frank, Wilkinson Brimmer
Katcher
212-355-4449
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SOURCE Universal Insurance Holdings, Inc.