Edition:
United States

Profile: NYSE MKT OTFC (UVE.A)

UVE.A on American Stock Exchange

13.01USD
2 Dec 2013
Change (% chg)

$0.61 (+4.92%)
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Open
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Volume
195,698
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Universal Insurance Holdings, Inc. (UVE), incorporated on November 13, 1990, is a private personal residential homeowners insurance company in Florida. The Company performs substantially all aspects of insurance underwriting, policy issuance, general administration, and claims processing and settlement internally. The Company's subsidiaries include Universal Property & Casualty Insurance Company (UPCIC) and American Platinum Property and Casualty Insurance Company (APPCIC). UPCIC writes homeowners insurance policies in states, including Alabama, Delaware, Florida, Georgia, Hawaii, Indiana, Maryland, Massachusetts, Michigan, Minnesota, North Carolina, Pennsylvania, South Carolina and Virginia. UPCIC is also licensed to issue policies in New Hampshire, New Jersey, New York, and West Virginia. APPCIC writes homeowners and commercial residential insurance policies in Florida.

The Company has developed a suite of applications that provide underwriting, policy and claim administration services, including billing, policy maintenance, inspections, refunds, commissions and data analysis. Its rating engine aligns with various state requirements to support its geographic expansion. The primary objectives of its investment portfolio include the preservation of capital and providing adequate liquidity for claims payments and other cash needs. Its investment portfolio's secondary investment objective is to provide a total rate of return with a focus on investment income. The Company focuses on short-term investments.

Universal Risk Advisors (URA) is its managing general agent and manages its distribution network and negotiates its reinsurance. Universal Inspection Corporation conducts inspections as part of its underwriting process, and Universal Adjusting Corporation (UAC) manages its claims processing and adjustment functions. Blue Atlantic Reinsurance Corporation (BARC) is its reinsurance intermediary. These service companies are vertically aligned with its Insurance Entities to maintain quality throughout the policy origination and claim settlement process. As of December 31, 2016, the Company had relationships with a network of approximately 8,600 licensed independent insurance agents with approximately 4,400 in Florida and approximately 4,200 outside of Florida. Its homeowners insurance products provide policyholders with the ability to receive homeowners, renters, condominium, dwelling, fire, other structures, personal property, personal liability and personal articles coverages. The Company markets and sells its products solely through its network of licensed independent agents, which the Company builds both in Florida and in other states.

Company Address

NYSE MKT OTFC

1110 W Commercial Blvd Ste 100
FORT LAUDERDALE   FL   33309-3749
P: +1954.9581200
F: +1302.6365454

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