Press Release |
Universal Insurance Holdings, Inc. Insurance Subsidiaries Complete 2012-2013 Reinsurance Program
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FORT LAUDERDALE, FL, Jun 07 (Marketwire) -- Universal Insurance Holdings, Inc. ("Company") (NYSE MKT: UVE) announced the completion by Universal Property & Casualty Insurance Company ("UPCIC") and American Platinum Property and Casualty Insurance Company ("APPCIC"), the Company's wholly-owned insurance company subsidiaries, of its 2012-2013 reinsurance program effective June 1, 2012. The largest private participants in the insurance subsidiaries' reinsurance program include leading reinsurance companies such as Odyssey Re, Everest Re, Renaissance Re, and Lloyd's of London syndicates. The Company will file a Current Report on Form 8-K with the Securities and Exchange Commission which provides additional details regarding the program. About Universal Insurance Holdings, Inc. Universal Insurance Holdings, Inc. is a vertically integrated insurance holding company which, through its subsidiaries, covers substantially all aspects of insurance underwriting, distribution, claims processing and exposure management. Universal Property & Casualty Insurance Company (UPCIC), a wholly owned subsidiary of the Company, is one of the three leading writers of homeowners insurance in Florida and is now fully licensed and has commenced its operations in North Carolina, South Carolina, Hawaii and Georgia. American Platinum Property and Casualty Insurance Company (APPCIC), also a wholly owned subsidiary, currently writes homeowners multi-peril and inland marine 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, 2011 and the Form 10-Q for the quarter ended March 31, 2012. Investor Contact: Philip Kranz Dresner Corporate Services 312-780-7240 firstname.lastname@example.org Copyright 2012, Marketwire, All rights reserved. -0-