• A Florida-focused State Farm for homeowners insurance.
• Think of them as Allstate or Liberty Mutual, but exclusively for Florida homeowners.

• Homeowners Insurance: Provides financial protection for owner-occupied residential properties against specified perils and personal liability.
• Condominium Owners Insurance: Offers specialized coverage for condominium unit owners, protecting personal property and interior structural elements.
• Renters Insurance: Protects the personal belongings and provides liability coverage for individuals renting residential properties.
• Insurance-Related Services: Encompasses underwriting, policy administration, and claims adjusting that support their insurance product offerings.

Universal Insurance Holdings, Inc. (UVE)

Universal Insurance Holdings, Inc. (UVE) primarily sells its insurance products and services to individuals.

The company serves the following categories of individual customers:

• Homeowners: Individuals who own and reside in single-family homes, townhouses, or duplexes, seeking comprehensive insurance coverage for their dwelling, personal property, and liability.
• Condominium Owners: Individuals who own a condominium unit and require insurance for the interior of their unit, personal belongings, and personal liability, complementing the master policy often held by the condominium association.
• Renters: Individuals who rent apartments, homes, or other residential properties and seek insurance to protect their personal possessions from perils like fire or theft, as well as liability coverage for incidents occurring within their rented space.

Stephen J. Donaghy, Chief Executive Officer

Stephen J. Donaghy has been the Chief Executive Officer of Universal Insurance Holdings since July 2019. He previously served as Chief Operating Officer from March 2016 to July 2019, and held other key senior leadership roles within the company, including Chief Marketing Officer, Chief Administrative Officer, Chief Information Officer, and Executive Vice President, starting in 2006. Before joining Universal Insurance Holdings, Mr. Donaghy held various executive positions at JM Family Enterprises, a privately held company, including Vice President of Strategic Initiatives, Vice President of Sales and Marketing, and Senior Information Officer.

Frank C. Wilcox, Chief Financial Officer

Frank C. Wilcox became Chief Financial Officer and Principal Accounting Officer of Universal Insurance Holdings and its wholly-owned insurance subsidiaries in 2013. Prior to this role, he served as the company's Vice President of Finance since 2011. Before joining Universal Insurance Holdings, Mr. Wilcox was Director, Consolidation and SEC Reporting at Burger King Corporation from 2006 to 2011, and Senior Vice President, Controller at BankUnited from 2000 to 2006. He is a licensed Certified Public Accountant in New York since 1996.

Sean P. Downes, Executive Chairman

Sean P. Downes transitioned to the role of Executive Chairman of the Board in July 2019, after serving as Chairman and CEO for the preceding six years. He has been an executive with Universal Insurance Holdings for 20 years, holding various positions including President, Chief Operating Officer, and Director of UPCIC, a wholly-owned subsidiary.

Kimberly D. Campos, Chief Information Officer; Chief Administrative Officer; Director

Kimberly D. Campos became Chief Administrative Officer in June 2015 and Chief Information Officer in February 2015. She also serves as a Director since 2017. Prior to these executive roles, Ms. Campos spent eight years in Universal's IT department, serving as IT Manager and IT Audit Director. Before joining the company, she supervised audit and assurance engagements for Fortune 500 clients in the financial services industry at PricewaterhouseCoopers (PwC). Ms. Campos is a Certified Information Security Auditor (CISA) and Certified in Risk and Information Security Controls (CRISC).

Michael J. Poloskey, Chief Operating Officer

Michael J. Poloskey has been the Chief Operating Officer of Universal Insurance Holdings since 2020. Previously, he served as the Vice President of Underwriting for the company since 2013.

• The increasing frequency and severity of extreme weather events (e.g., hurricanes) driven by climate change, which fundamentally alters the underlying risk profile for property insurers in vulnerable regions like Florida, leading to higher claims and increased difficulty in accurate risk modeling and pricing.
• The sustained hardening of the global reinsurance market, characterized by significantly escalating costs and reduced capacity, directly impacting Universal Insurance's ability to secure adequate reinsurance coverage at an affordable price, thereby increasing their net exposure and pressuring profitability.

Universal Insurance Holdings (UVE) primarily operates in the personal residential homeowners' insurance market, offering homeowners, renters/tenants, and condo unit owners' coverages. While they have a presence across multiple U.S. states, Florida is a significant market for the company.

Addressable Markets for Main Products/Services:

• U.S. Homeowners' Insurance Market: The market size for Homeowners' Insurance in the U.S. was valued at approximately $171.7 billion in 2024. This market is projected to reach $175.1 billion in 2025.
• Florida Property Insurance Market: The total direct premium written in the Florida property insurance market reached approximately $23 billion. As of Q4 2023, there were about 7.45 million residential insurance policies in force in Florida.

Universal Insurance (UVE) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

1. Higher Rates and Inflation Adjustments: The company has consistently seen overall growth reflecting higher rates and inflation adjustments across its multi-state operations.
2. Growth in Policies In Force and Direct Premiums Written: Universal Insurance has demonstrated a steady increase in direct premiums written and earned, indicating an expansion in the number of policies and overall premium volume.
3. Geographic Diversification and Expansion to New Markets: A significant driver of revenue growth is the company's strategic expansion beyond its primary Florida market. There has been notable growth in direct premiums written in other states, with reported increases such as 25.4% in Q2 2025, 22.2% in Q3 2025, and 34.7% in Q1 2025. Universal Insurance also expanded its presence by opening its 19th state in Wisconsin.
4. Increased Net Investment Income: Growth in net investment income is a consistent contributor to core revenue, primarily stemming from higher fixed-income reinvestment yields and an increase in invested assets.
5. Growth in Commission Revenue: The company also anticipates future revenue growth from an increase in its commission revenue.

Share Repurchases

• On May 1, 2025, Universal Insurance Holdings' Board of Directors authorized a new share repurchase program allowing the company to repurchase up to $20 million of its outstanding common stock through May 1, 2027.
• During the third quarter of 2025, the company repurchased approximately 347,000 shares at an aggregate cost of $8.1 million.
• As of the end of the third quarter of 2025, approximately $7.1 million remained authorized under the current share repurchase program.

Share Issuance

• Analysts anticipate the number of outstanding shares to experience a projected growth of 0.11% annually over the next three years.

Inbound Investments

• No information is available regarding large strategic investments or capital injections made by third-party strategic partners or private equity firms into Universal Insurance Holdings within the last 3-5 years.

Outbound Investments

• As of August 29, 2025, Universal Insurance Holdings has not made any investments in or acquisitions of other companies.

Capital Expenditures

• Capital expenditures were $9.18 million in 2020, $12 million in 2021, $8.19 million in 2022, $4.60 million in 2023, and $6.70 million in 2024.
• A primary focus of investments includes Grand Palm Development Group, a real estate development entity, created to diversify UVE's investment portfolio by developing, operating, or selling residential properties and evaluating undeveloped land.
• The company's investment portfolio also prioritizes the preservation of capital and liquidity for claims payments, with a secondary objective to generate stable returns primarily through fixed income, alongside equity securities and real estate for capital appreciation and diversification.