Universal Insurance Holdings Appoints Matthew J. Palmieri as New President of Universal Property; Jon W. Springer to Retire, ...
Universal Insurance Holdings, Inc. (NYSE: UVE) announced today
that Matthew J. Palmieri will take on a new role as President of
Universal Property and Casualty Insurance Company (“UPCIC”), a
wholly-owned subsidiary of UVE, effective January 1, 2021. Mr.
Palmieri succeeds Jon W. Springer in this role, who will be
retiring at the end of January 2021. Mr. Springer will continue to
serve as Chief Risk Officer until his retirement, and will
subsequently remain on the Board of Directors.
“We thank Jon for his tremendous contributions over the years
and look forward to working with Jon and Matt on a seamless
transition. In addition, I look forward to continuing to work with
Jon as a key member of our board,” said Steve Donaghy, Chief
Mr. Palmieri said, “I am excited to be appointed President of
Universal Property and I look forward to carrying on the key risk
management and reinsurance program strategies that Jon and I have
worked closely building together for the last 15 years at UVE with
our great team.”
Mr. Palmieri, 41, previously served as President of Blue
Atlantic Reinsurance Corporation, a wholly-owned reinsurance
intermediary subsidiary of UVE. Mr. Palmieri began his career with
UVE in 2006, working hand-in-hand with his predecessor Mr.
Springer. Over approximately 15 years, Mr. Palmieri has been
instrumental in placing all of UVE’s annual reinsurance programs,
including risk management, data analytics, negotiations, and
contracts terms and conditions and compliance. Mr. Palmieri’s
additional experience includes prior employment at Chubb Tempest Re
and Willis Re.
Mr. Palmieri received his bachelor’s degree from Bentley
About Universal Insurance Holdings, Inc.
Universal Insurance Holdings, Inc. (“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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