Edition:
United States

Profile: Universal Insurance Holdings Inc (UVE.A)

UVE.A on American Stock Exchange

13.01USD
2 Dec 2013
Change (% chg)

$0.61 (+4.92%)
Prev Close
$12.40
Open
$12.58
Day's High
$13.08
Day's Low
$11.82
Volume
195,698
Avg. Vol
80,879
52-wk High
$25.58
52-wk Low
$15.81

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 writes personal residential homeowners insurance policies, predominantly in Florida. The Company also writes homeowners insurance policies in Delaware, Georgia, Hawaii, Indiana, Maryland, Massachusetts, Minnesota, North Carolina, Pennsylvania and South Carolina. The Company is also licensed to issue policies in Alabama, Michigan, New Hampshire, Virginia and West Virginia. It has a distribution network of approximately 7,800 licensed independent agents. Universal Property & Casualty Insurance Company (UPCIC) and American Platinum Property and Casualty Insurance Company (APPCIC, and together with UPCIC, the Insurance Entities) are its insurance operating subsidiaries.

Most of its policies are written by UPCIC. 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. The Company has developed long-term relationships with a network of approximately 7,800 licensed independent insurance agents with approximately 4,500 in Florida and approximately 3,300 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.

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 Company conducts investment activities through each of the Insurance Entities and UVE. The primary objectives of its investment portfolio are 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 relatively short-term investments.

Company Address

Universal Insurance Holdings Inc

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

Company Web Links