Universal Insurance Holdings, Inc. Announces Bradley Meier's Resignation

Wed Feb 6, 2013 4:15pm EST

* Reuters is not responsible for the content in this press release.

  FORT LAUDERDALE, FL, Feb 06 (Marketwire) -- 
Universal Insurance Holdings, Inc. ("Company") (NYSE MKT: UVE) announced
today that Bradley I. Meier will resign as Chairman, President and Chief
Executive Officer of the Company to pursue other opportunities outside
the residential homeowners insurance industry. Mr. Meier's resignation
will be effective as of February 22, 2013. Mr. Meier will remain
available to the Company as needed in an advisory capacity.

    The Company also announced that it expects that Sean P. Downes will
become President and Chief Executive Officer. Mr. Downes, a 14-year
veteran with the Company, has been the Company's Senior Vice President,
Chief Operating Officer and a director since January 2005, and Chief
Operating Officer and a director of Universal Property & Casualty
Insurance Company, a wholly-owned subsidiary of the Company, since July
2003. Mr. Downes, age 43, was Chief Operating Officer of Universal
Adjusting Corporation, a wholly-owned subsidiary of the Company, from
July 1999 to July 2003. During that time Mr. Downes created the Company's
claims operation. Before joining the Company in July 1999, Mr. Downes was
Vice President of Downes and Associates, a multi-line insurance
adjustment corporation. 

    "I would like to thank Brad for his vision and his 20-plus years of
leadership at the Company," said Mr. Downes. "As a founder of the
Company, there wouldn't be a Universal without Brad and he leaves the
Company at a time of strength, growth and positive energy. We wish him
the very best in the future."

    "I want to thank the Board of Directors, our employees and our
policyholders for their support over the past two decades," said Mr.
Meier. "We have grown the Company into one of the three leading writers
of homeowners insurance in Florida and now write policies in six other
states. We are fortunate to have someone of Sean's caliber to lead the
Company into the future in new and exciting ways."

    The Company further announced that it expects that Jon W. Springer will
become Chief Operating Officer. Mr. Springer, age 43, has been the
Executive Vice President of Blue Atlantic Reinsurance Corporation, a
wholly-owned subsidiary of the Company, since June 2006. Before joining
Blue Atlantic Reinsurance Corporation, Mr. Springer was an Executive Vice
President of Willis Re, Inc. and was responsible for managing property
and casualty operations in its Minneapolis office.

    About Universal Insurance Holdings, Inc.
 Universal Insurance Holdings,
Inc. ("Company"), 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 three 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 and Maryland. 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
 Certain statements in this
press release are "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. The
forward-looking statements in this press release include statements
regarding management succession matters. Forward-looking statements are
inherently subject to risks and uncertainties, some of which cannot be
predicted or quantified. Future results or events 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 September 30,
2012.

    

Investor Contact:
Philip Kranz
Dresner Corporate Services
312-780-7240
pkranz@dresnerco.com 

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