Universal Insurance Holdings, Inc. Announces That UPCIC Received Premium Rate Increases for Its Florida Homeowners and Dwelling Fire Programs

Thu Feb 7, 2013 3:50pm EST

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

  FORT LAUDERDALE, FL, Feb 07 (Marketwire) -- 
Universal Insurance Holdings, Inc. (NYSE MKT: UVE), a vertically
integrated insurance holding company, announced that on January 7, 2013,
Universal Property & Casualty Insurance Company (UPCIC), a wholly-owned
subsidiary, received approval from the Florida Office of Insurance
Regulation (OIR) of a rate increase for its homeowners insurance program
within the State of Florida. The rate increase will result in an average
premium increase of approximately 14.1 percent statewide across all
forms. Effective dates for the rate increase are January 18, 2013, for
new business and March 9, 2013, for renewal business.

    Additionally, on January 11, 2013, UPCIC received approval from the OIR
of a rate increase for its dwelling fire insurance program within the
State of Florida. The rate increase will result in an average premium
increase of approximately 14.5 percent statewide across all forms.
Effective dates for the rate increase are January 14, 2013, for new
business and March 3, 2013, for renewal business.

    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 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 (APPCIC), 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 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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