Universal Insurance Holdings, Inc. Subsidiary Universal Property Begins Writing Homeowners Insurance Policies in Iowa

FORT LAUDERDALE, Fla.–(BUSINESS WIRE)–Oct 29, 2020–

Universal Insurance Holdings, Inc. (NYSE: UVE) announced today that its wholly-owned subsidiary, Universal Property & Casualty Insurance Company (Universal Property), has written multiple policies in Iowa since the end of the third quarter. This marks the 19th state where consumers can purchase a Universal Property policy through independent agents or directly shop their policy on Clovered.com.

“We continue to make inroads across the country creating long-standing relationships with consumers and independent agents. We look forward to continuing to expand our addressable market and diversify our book of business,” said Universal Insurance Holdings, Inc. Chief Executive Officer Stephen J. Donaghy.

Learn more about purchasing a Universal Property policy online at UniversalProperty.com or shop your policy at Clovered.com.

About Universal Insurance Holdings, Inc.

Universal Insurance Holdings (UVE) is a holding company offering property and casualty insurance and value-added insurance services. We develop, market, and write insurance products for consumers predominantly in the personal residential homeowners lines of business and perform substantially all other insurance-related services for our primary insurance entities, including risk management, claims management and distribution. We sell insurance products through both our appointed independent agents and through our direct online distribution channels in the United States across 19 states (primarily Florida). Learn more at UniversalInsuranceHoldings.com.

Forward-Looking Statements

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,” “will,” “plan,” 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, including those risks and uncertainties described under the heading “Risk Factors” and “Liquidity and Capital Resources” in our 2019 Annual Report on Form 10-K, and supplemented in our subsequent Quarterly Reports on Form 10-Q. Future results could differ materially from those described, and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. 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 Company’s Annual Report on Form 10-K and the most recent quarterly reports on Form 10-Q.

View source version on businesswire.com:https://www.businesswire.com/news/home/20201029006145/en/[1]

CONTACT: Investor Relations Contact:

Rob Luther, 954-958-1200 ext. 6750

VP, Corporate Development, Strategy & IR

rluther@universalproperty.comMedia Relations Contact:

Andy Brimmer / Mahmoud Siddig, 212-355-4449

Joele Frank, Wilkinson Brimmer Katcher

KEYWORD: FLORIDA IOWA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: INSURANCE PROFESSIONAL SERVICES

SOURCE: Universal Insurance Holdings, Inc.

Copyright Business Wire 2020.

PUB: 10/29/2020 04:15 PM/DISC: 10/29/2020 04:15 PM

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