Press Release /
December 19, 2008

Universal Insurance Holdings, Inc. Announces the State of South Carolina Has Approved UPCIC’s Rates and Forms; UPCIC Has Written Its First Homeowners’ Policies in the State


FORT LAUDERDALE, FL — (MARKET WIRE) — 12/19/2008 — Universal Insurance Holdings, Inc. (NYSE Alternext US: UVE) (AMEX: UVE), a vertically integrated insurance holding company, announced that its subsidiary, Universal Property and Casualty Insurance Company (UPCIC), has received approval of its rates and forms from the South Carolina Department of Insurance to write property and casualty insurance in the State of South Carolina. Following this approval, UPCIC has written its first homeowners’ policies in South Carolina.

Bradley I. Meier, president and chief executive officer of Universal Insurance Holdings, Inc., commented, “UPCIC’s entrĂ©e into the South Carolina homeowners’ insurance market represents a significant milestone in our Company’s history, as we have begun the process of utilizing our insurance expertise to diversify beyond Florida. We are pleased to be able to offer UPCIC’s homeowners’ insurance products to the citizens of South Carolina.”

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