Universal Insurance Holdings, Inc. Joins Russell Microcap Index
FORT LAUDERDALE, FL — (MARKET WIRE) — 06/26/2007 — Universal Insurance Holdings, Inc. (“UIH”) (AMEX: UVE), a vertically integrated insurance holding company, joined the Russell Microcap Index when Russell Investment Group reconstituted its family of U.S. indexes on June 22, 2007.
The Russell Microcap Index, which is comprised of the smallest 1,000 securities in the small-cap Russell 2000 Index plus the next 1,000 companies, is based on a ranking of all U.S. equities by market capitalization. The index offers managers and other investors a comprehensive, unbiased barometer to compare their performance against the genuine microcap marketplace of stocks. Investment managers who oversee these funds purchase shares of member stocks according to that company’s weighting in the particular index.
UIH President and CEO Bradley Meier commented, “We believe that being included in the Russell Microcap Index will lead to increased visibility in the investment community and among institutional portfolio managers, and aid the Company’s continuing efforts to communicate its core strategy and key initiatives.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $4 trillion in assets currently are benchmarked to these indexes.
About Universal Insurance Holdings, Inc.
The Company is a vertically integrated insurance holding company operating solely in the state of Florida. Through its subsidiaries, the Company is currently engaged in insurance underwriting, distribution and claims. Universal Property & Casualty Insurance Company (UPCIC), which generates revenue from the collection and investment of premiums, is one of the top 10 leading writers of homeowners insurance in the state of Florida and has aligned itself with well respected service providers in the industry.
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.
About Russell:
Russell Investment Group aims to improve financial security for people by providing strategic advice, world-class implementation, state-of-the-art performance benchmarks, and a range of institutional-quality investment products. With more than $200 billion in assets under management, Russell serves individual, institutional and advisor clients in more than 40 countries. Russell provides access to some of the world’s best money managers. It helps investors put this access to work in corporate defined benefit and defined contribution plans, and in the life savings of individual investors.
Founded in 1936, Russell is a subsidiary of Northwestern Mutual Life Insurance Company. Headquartered in Tacoma, Wash., U.S., Russell has principal offices in Amsterdam, Auckland, Hong Kong, Johannesburg, London, Melbourne, New York, Paris, San Francisco, Singapore, Sydney, Tokyo and Toronto.
Russell’s indexes are unmanaged and cannot be investing in directly. For more information on Russell indexes, go to www.russell.com.
Philip Kranz Dresner Corporate Services 312-780-7240 pkranz@dresnerco.com