UNIVERSAL INSURANCE HOLDINGS, INC. SUBSIDIARY UPCIC RECEIVES CERTIFICATE OF AUTHORITY FROM PENNSYLVANIA

State Approves UPCIC as a Licensed Insurance Entity

Fort Lauderdale, FL, January 12, 2015 - Universal Insurance Holdings, Inc. (NYSE: UVE) announced today that the Pennsylvania Insurance Department has issued a Certificate of Authority to Universal Property & Casualty Insurance Company (UPCIC), a wholly-owned subsidiary of Universal Insurance Holdings, Inc., thereby approving UPCIC as a licensed insurance entity in the state of Pennsylvania.

Sean P. Downes, the Company's Chairman, President and Chief Executive Officer, stated, "We are excited about our entry into the Pennsylvania market. We look forward to developing strong relationships with independent agents in Pennsylvania and offering our insurance products to consumers as we build our business in the state. This approval represents another step in our successful geographic expansion effort, a core element of our growth strategy."

UPCIC is one of the leading writers of homeowners insurance in Florida and is fully licensed to offer its homeowners insurance products in North Carolina, South Carolina, Hawaii, Georgia, Massachusetts, Maryland, Delaware, Indiana and now Pennsylvania.

"Following the strongest quarter in Universal Insurance’s history, we are pleased to announce this special dividend that reflects our confidence in the business and further demonstrates our continued commitment to deliver shareholder value," said Sean P. Downes, the Company's Chairman, President and Chief Executive Officer.

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 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, Maryland and Delaware. 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 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, 2013 and the Form 10-Q for the quarter ended September 30, 2014.



Investor Contact:
Andy Brimmer / Mahmoud Siddig
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449