Press Release /
December 9, 2008

Universal Insurance Holdings, Inc. Announces the State of Florida Has Approved Its Formation of a Second Property & Casualty Insurance Company


FORT LAUDERDALE, FL — (MARKET WIRE) — 12/09/2008 — Universal Insurance Holdings, Inc. (NYSE Alternext US: UVE), a vertically integrated insurance holding company, announced that the State of Florida’s Office of Insurance Regulation has approved Universal Insurance Holdings’ application to form a second property and casualty insurance subsidiary (initially filed as Infinity Property and Casualty Insurance Company), to be named American Platinum Property and Casualty Insurance Company.

The new company, a wholly owned subsidiary of Universal Insurance Holdings, Inc., intends to write insurance in the state of Florida in the lines of homeowners’ multi-peril and inland marine on homes valued in excess of $1 million, which are limits and coverages currently not offered by its affiliate, Universal Property & Casualty Insurance Company (UPCIC). Additionally, the new company plans to write excess flood insurance on homes valued in excess of $250,000. The new company intends to file for the approval of its rates and forms by the Florida Office of Insurance Regulation by the first quarter of 2009, with anticipation of writing new business in Florida promptly following approval of its rates and forms.

Bradley I. Meier, president and chief executive officer, commented, "Universal Insurance Holdings is pleased with the approval of a second property and casualty insurance company, as we believe it offers an opportunity for us to utilize our expertise and further grow within Florida. Through this subsidiary, we look forward to offering additional property and casualty products to the citizens of Florida."

About Universal Insurance Holdings, Inc.

The Company is a vertically integrated insurance holding company. Through its subsidiaries, the Company is currently engaged in insurance underwriting, distribution and claims. UPCIC, which generates revenue from the collection and investment of premiums, is one of the top five writers of homeowners’ insurance policies in the state of Florida.

Readers should refer generally to reports filed by the Company with the Securities and Exchange Commission (SEC), specifically the Company’s Form 10-KSB for the year ended December 31, 2007, and the Company’s Form 10-Q for the quarterly period ended September 30, 2008, for a discussion of the risk factors that could affect its operations. Such factors include, without limitation, exposure to catastrophic losses; reliance on the Company’s reinsurance program; underwriting performance on catastrophe and non-catastrophe risks; the ability to maintain relationships with customers, employees or suppliers; and competition and its effect on pricing, spending, third-party relationships and revenues. Additional factors that may affect future results are contained in the Company’s filings with the SEC, which are available on the SEC’s web site at The Company disclaims any obligation to update and revise statements contained in this press release based on new information or otherwise.

Cautionary Language Concerning Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate," and "project," and similar expressions identify forward-looking statements, which speak only as of the date the statement was made. Such statements may include, but not be limited to, projections of revenues, income or loss, expenses, plans, 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 in forward-looking statements.



Philip Kranz  
Dresner Corporate Services