Universal Insurance Holdings Announces New $20 Million Share Repurchase Authorization
Universal Insurance Holdings, Inc. announced today that its
Board of Directors has authorized a new share repurchase program
under which the Company may repurchase up to $20 million of its
outstanding shares of common stock through November 3, 2022.
Share repurchases may be made by the Company from time to time
in open market transactions at prevailing market prices and are
subject to relevant rules under the Securities Exchange Act of
1934, as amended (Exchange Act). The Company intends to effect
repurchase transactions in compliance with Rule 10b-18 under the
Exchange Act and the Company’s insider trading policy.
About Universal Insurance Holdings, Inc.
Universal Insurance Holdings (UVE) is a holding company offering
property and casualty insurance and value-added insurance services.
We develop, market, and write insurance products for consumers
predominantly in the personal residential homeowners lines of
business and perform substantially all other insurance-related
services for our primary insurance entities, including risk
management, claims management and distribution. We sell insurance
products through both our appointed independent agents and through
our direct online distribution channels in the United States across
19 states (primarily Florida). Learn more at
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,” “will,”
“plan,” 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,
including those risks and uncertainties described under the heading
“risk factors” and “Liquidity and Capital Resources” in our 2019
Annual Report on Form 10-K and supplemented in our subsequent
Quarterly Reports on Form 10-Q. Future results could differ
materially from those described, and the Company disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events,
or otherwise. 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 Company’s Annual Report on Form 10-K and
the most recent quarterly reports on Form 10-Q.
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