UNIVERSAL INSURANCE HOLDINGS, INC. SUBSIDIARY UPCIC WRITES FIRST HOMEOWNERS INSURANCE POLICY AND LAUNCHES UNIVERSAL DIRECT IN VIRGINIA

Fort Lauderdale, FL, October 27, 2016 - Universal Insurance Holdings, Inc. (NYSE: UVE) announced today that the Virginia State Corporation Commission has approved the homeowners insurance rates and forms of its wholly-owned subsidiary, Universal Property & Casualty Insurance Company ("UPCIC"), and that UPCIC has subsequently written its first homeowners policy in Virginia.

Virginia marks the fourteenth state of operation for UPCIC and the eleventh state to offer customers access to UPCIC homeowners insurance policies through its direct-to-consumer online platform Universal DirectSM. Independent appointed agents operating in Virginia have the opportunity to receive commissions from policies written by UPCIC via Universal DirectSM.

"We are pleased to have written our first policy in Virginia, and to begin offering our homeowners insurance products to customers in the state through both our traditional independent agent channel and our convenient and easy-to-use online platform," said Sean P. Downes, the Company's Chairman and Chief Executive Officer. "Our commitment to providing exceptional service and value to our customers continues to drive our successful geographic expansion efforts. We look forward to continuing to expand our traditional and online platform across new markets and deliver comprehensive affordable insurance solutions to even more customers across the US."

For additional information about Universal DirectSM, please visit www.universaldirect.com.

About Universal Insurance Holdings, Inc. Universal Insurance Holdings, Inc., with its wholly-owned subsidiaries, is a vertically integrated insurance 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 operations in North Carolina, South Carolina, Hawaii, Georgia, Massachusetts, Maryland, Delaware, Indiana, Pennsylvania, Minnesota, Michigan, Alabama and Virginia. 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 Form 10-K for the year ended December 31, 2015.



Investor Contact:
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Joele Frank, Wilkinson Brimmer Katcher
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