<SEC-DOCUMENT>0001193125-12-263617.txt : 20120607
<SEC-HEADER>0001193125-12-263617.hdr.sgml : 20120607
<ACCEPTANCE-DATETIME>20120607172247
ACCESSION NUMBER:		0001193125-12-263617
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20120601
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20120607
DATE AS OF CHANGE:		20120607

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			UNIVERSAL INSURANCE HOLDINGS, INC.
		CENTRAL INDEX KEY:			0000891166
		STANDARD INDUSTRIAL CLASSIFICATION:	FIRE, MARINE & CASUALTY INSURANCE [6331]
		IRS NUMBER:				650231984
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33251
		FILM NUMBER:		12895622

	BUSINESS ADDRESS:	
		STREET 1:		1110 W. COMMERCIAL BLVD.
		STREET 2:		SUITE 100
		CITY:			FORT LAUDERDALE
		STATE:			FL
		ZIP:			33309
		BUSINESS PHONE:		9549581200

	MAIL ADDRESS:	
		STREET 1:		1110 W. COMMERCIAL BLVD.
		STREET 2:		SUITE 100
		CITY:			FORT LAUDERDALE
		STATE:			FL
		ZIP:			33309

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	UNIVERSAL INSURANCE HOLDINGS INC
		DATE OF NAME CHANGE:	20010330

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	UNIVERSAL HEIGHTS INC
		DATE OF NAME CHANGE:	19950817
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d364322d8k.htm
<DESCRIPTION>8-K
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 <P STYLE="line-height:0px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<P STYLE="line-height:3px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P STYLE="margin-top:4px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>UNITED STATES </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>SECURITIES AND EXCHANGE COMMISSION </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="3"><B>Washington, D.C. 20549 </B></FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:18px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>FORM 8-K
</B></FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>CURRENT REPORT </B></FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="3"><B>Pursuant to Section&nbsp;13 or 15 (d)&nbsp;of the </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>Securities Exchange
Act of 1934 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><U>June 1, 2012</U>&nbsp; </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><U></U>Date of report (Date of earliest event reported) </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="6"><B><U>Universal
Insurance Holdings, Inc.</U> </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><U></U>(Exact name of registrant as specified in its charter) </B></FONT></P>
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<TD VALIGN="top" ALIGN="center" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Delaware</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>001-33251</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>65-0231984</B></FONT></P></TD></TR>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(State or other jurisdiction of</B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>incorporation or organization)</B></FONT></P></TD>
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<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(Commission file number)</B></FONT></TD>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(IRS Employer <BR></B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Identification No.)</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><U>1110 W. Commercial Blvd., Fort Lauderdale, Florida 33309</U> </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><U></U>(Address of Principal Executive Offices)</B> </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Registrant&#146;s telephone number, including area code:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(954)
958-1200&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></B> </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425). </FONT></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12). </FONT></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)). </FONT></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)). </FONT></TD></TR></TABLE>
<P STYLE="font-size:8px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="line-height:0px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #000000">&nbsp;</P>
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<TD WIDTH="14%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">ITEM&nbsp;8.01</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>Other Events.</U> </FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">On June&nbsp;7, 2012,
Universal Insurance Holdings, Inc. (the &#147;Company&#148;) announced the completion by two of its wholly-owned subsidiaries, Universal Property&nbsp;&amp; Casualty Insurance Company (&#147;UPCIC&#148;) and American Platinum Property and Casualty
Insurance Company (&#147;APPCIC&#148;) (collectively, the &#147;Insurance Entities&#148;), of its 2012-2013 reinsurance program effective June&nbsp;1, 2012. The announcement, a copy of which is furnished as Exhibit 99.1 to this report, is
incorporated herein by reference. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">REINSURANCE GENERALLY </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">In the normal course of business, the Company limits the maximum net loss that can arise from large risks, risks in concentrated areas of exposure and catastrophes, such as hurricanes or other similar
loss occurrences, by reinsuring certain levels of risk in various areas of exposure with other insurers or reinsurers through the Company&#146;s reinsurance agreements. The Company&#146;s intention is to limit its exposure and the exposure of its
Insurance Entities, thereby protecting stockholders&#146; equity and the Insurance Entities&#146; capital and surplus, even in the event of catastrophic occurrences, through reinsurance agreements. Without these reinsurance agreements, the Insurance
Entities would be more substantially exposed to catastrophic losses with a greater likelihood that those losses could exceed their statutory capital and surplus. Any such catastrophic event, or multiple catastrophes, could have a material adverse
effect on the Insurance Entities&#146; solvency and our results of operations, financial condition and liquidity. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Below is a description of
our 2012-2013 reinsurance program. Although the terms of the individual contracts vary, the Company believes the overall terms of the 2012-2013 reinsurance program are more favorable than the 2011-2012 reinsurance program. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Insurance Entities are responsible for insured losses related to catastrophic events in excess of coverage provided by their reinsurance programs.
The Insurance Entities also remain responsible for insured losses notwithstanding the failure of any reinsurer to make payments otherwise due to the Insurance Entities. The Insurance Entities&#146; inability to satisfy valid insurance claims
resulting from catastrophic events could have a material adverse effect on the Company&#146;s results of operations, financial condition and liquidity. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">UPCIC REINSURANCE PROGRAM </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Effective June&nbsp;1, 2012, UPCIC entered into a quota share
reinsurance contract with Odyssey Reinsurance Company. Under the quota share contract, through May&nbsp;31, 2013, UPCIC cedes 45% of its gross written premiums, losses and loss adjustment expenses for policies with coverage for wind risk with a
ceding commission equal to 25% of ceded gross written premiums. In addition, the quota share contract has a limitation for any one occurrence not to exceed $75,000,000 (of which UPCIC&#146;s net liability on the first $75,000,000 of losses in a
first event scenario is $24,750,000, in a second event scenario is $27,500,000 and in a third event scenario is $16,500,000) and a limitation from losses arising out of events that are assigned a catastrophe serial number by the Property Claims
Services (&#147;PCS&#148;) office not to exceed $180,000,000. The contract limits the amount of premium which can be deducted for inuring reinsurance to the lesser of actual costs or 32% of gross earned premium, excluding reinstatement premiums, or
the </FONT></P>
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lesser of actual costs or 32% of gross earned premium plus a maximum additional of $135,978,000, including reinstatement premiums, if any. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Effective June&nbsp;1, 2012 through May&nbsp;31, 2013, UPCIC entered into a multiple line excess per risk contract with various reinsurers. Under the
multiple line excess per risk contract, UPCIC obtained coverage of $1,400,000 in excess of $600,000 ultimate net loss for each risk and each property loss, and $1,000,000 in excess of $300,000 for each casualty loss. The contract has a limitation
for any one occurrence not to exceed $1,400,000 and a $7,000,000 aggregate limit that applies to the term of the contract. Effective June&nbsp;1, 2012 through May&nbsp;31, 2013, UPCIC entered into a property per risk excess contract covering ex-wind
only policies. Under the property per risk excess contract, UPCIC obtained coverage of $350,000 in excess of $250,000 for each property loss. The contract has a limitation for any one occurrence not to exceed $1,050,000 and a $1,750,000 aggregate
limit that applies to the term of the contract. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Effective June&nbsp;1, 2012 through May&nbsp;31, 2013, under an underlying excess catastrophe
contract, UPCIC obtained catastrophe coverage of 45% of $75,000,000 in excess of $75,000,000 and 55% of $105,000,000 in excess of $45,000,000 covering certain loss occurrences including hurricanes. UPCIC entered into this contract with a segregated
account, Segregated Account T25 &#150; Universal Insurance Holdings of White Rock Insurance (SAC) Ltd. (&#147;T25&#148;), which is owned by the Company and was established by a third-party reinsurer under Bermuda law. Under this T25 agreement, T25
retains a maximum, pre-tax liability of $91,500,000 for the first catastrophic event up to $1.647 billion of losses. UPCIC is required to make premium installment payments aggregating $72,980,800 to T25, subject to the terms of the agreement.
Through capital contributions made to T25 by the Company, T25 contributes an amount equal to its liability for losses, net of UPCIC&#146;s required premium payments and expenses thereon, to a trust account as collateral. The trust account has been
funded with the required collateral of $19,978,816 at the inception of the agreement and invested in a cash reserve fund. The amounts held in the cash reserve fund are included in restricted cash and cash equivalents in the Company&#146;s
Consolidated Balance Sheets. The collateral is available to be used to pay any claims that may arise from the occurrence of covered events. The collateral is required to be held in trust for the benefit of UPCIC until the occurrence of a covered
event or expiration or termination of the agreement between T25 and UPCIC. The Company has no requirement to fund T25 in the event losses exceed the amount of collateral held in trust. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The Company has secured the obligations of the segregated account by contributing $19,978,816, the amount of the segregated account&#146;s liability for losses net of UPCIC&#146;s required premium
payments, to a trust account for the current June&nbsp;1, 2012 to May&nbsp;31, 2013 contract period. In the event of a loss under the terms of this contract, the capital contributed by the Company would be used to pay claims and would have an
adverse effect on stockholders&#146; equity and cash resources. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The agreements between T25 and the Insurance Entities are a cost-effective
alternative to reinsurance that the Insurance Entities would otherwise purchase from third-party reinsurers. While the Company retains the risk that otherwise would be transferred to third party reinsurers, these agreements provide benefits to the
Insurance Entities in &#147;no-loss&#148; years that cannot be replicated in the open reinsurance market. These benefits include the return to the Insurance Entities of a substantial portion of the earned reinsurance premiums under the contract. All
the </FONT></P>
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related intercompany transactions with respect to these agreements are eliminated in consolidation. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Effective June&nbsp;1, 2012 through May&nbsp;31, 2013, under excess catastrophe contracts, UPCIC obtained catastrophe coverage of $541,200,000 in excess of $150,000,000 covering certain loss occurrences
including hurricanes. The coverage of $541,200,000 in excess of $150,000,000 has a second full limit available to UPCIC; additional premium is calculated pro rata as to amount and 100% as to time, as applicable. Effective June&nbsp;1, 2012 through
May&nbsp;31, 2013, UPCIC purchased reinstatement premium protection which reimburses UPCIC for its cost to reinstate the catastrophe coverage of the first $371,200,000 (part of $541,200,000) in excess of $150,000,000. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Effective June&nbsp;1, 2012 through May&nbsp;31, 2013, UPCIC also obtained subsequent catastrophe event excess of loss reinsurance to cover certain
levels of UPCIC&#146;s net retention through three catastrophe events including hurricanes. Specifically, UPCIC obtained catastrophe coverage for a second event of 45% of $75,000,000 excess of $75,000,000 in excess of $75,000,000 otherwise
recoverable and 55% of $100,000,000 excess of $50,000,000 in excess of $100,000,000 otherwise recoverable. UPCIC also obtained catastrophe coverage for a third event of $120,000,000 excess of $30,000,000 in excess of $240,000,000 otherwise
recoverable. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Effective June&nbsp;1, 2012 through June&nbsp;1, 2013, under an excess catastrophe contract specifically covering risks located
in Georgia, North Carolina and South Carolina, UPCIC obtained catastrophe coverage of 55% of $20,000,000 in excess of $30,000,000 and 55% of $25,000,000 in excess of $50,000,000 covering certain loss occurrences including hurricanes. Both layers of
coverage have a second full limit available to UPCIC; additional premium is calculated pro rata as to amount and 100% as to time, as applicable. The cost of UPCIC&#146;s excess catastrophe contracts specifically covering risks in Georgia, North
Carolina and South Carolina is $2,296,250. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">UPCIC also obtained coverage from the Florida Hurricane Catastrophe Fund (&#147;FHCF&#148;). The
approximate coverage is estimated to be for 90% of $1,062,000,000 in excess of $415,000,000. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The total cost of UPCIC&#146;s multiple line
excess and property per risk reinsurance program, effective June&nbsp;1, 2012 through May&nbsp;31, 2013, is $4,350,000, of which UPCIC&#146;s cost is $2,617,500, and the quota share reinsurer&#146;s cost is the remaining $1,732,500. The total cost
of UPCIC&#146;s underlying excess catastrophe contract is $72,980,800. The total cost of UPCIC&#146;s private catastrophe reinsurance program, effective June&nbsp;1, 2012 through May&nbsp;31, 2013, is $135,978,000, of which UPCIC&#146;s cost is 55%,
or $74,787,900, and the quota share reinsurer&#146;s cost is the remaining 45%. In addition, UPCIC purchases reinstatement premium protection as described above, the cost of which is $24,042,041. The total cost of the subsequent catastrophe event
excess of loss reinsurance is $26,306,250, of which UPCIC&#146;s cost is $16,417,500, and the quota share reinsurer&#146;s cost is the remaining $9,888,750. The estimated premium that UPCIC plans to cede to the FHCF for the 2012 hurricane season is
$73,882,856 of which UPCIC&#146;s cost is 55%, or $40,635,571, and the quota share reinsurer&#146;s cost is the remaining 45%. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The largest
private participants in UPCIC&#146;s reinsurance program include leading reinsurance companies such as Odyssey Re, Everest Re, Renaissance Re and Lloyd&#146;s of London syndicates. </FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">With the implementation of the Company&#146;s 2012-2013 reinsurance program at June&nbsp;1, 2012, the
Company retains a maximum pre-tax net liability of $127,470,000 for the first catastrophic event up to $1.647 billion of losses relating to the UPCIC Florida program, and a maximum pre-tax net liability of $18,796,250 for the first catastrophic
event up to $75,000,000 of losses relating to the UPCIC other states&#146; program. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">APPCIC REINSURANCE PROGRAM </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Effective June&nbsp;1, 2012 through May&nbsp;31, 2013, under an excess catastrophe contract, APPCIC obtained catastrophe coverage of $5,000,000 in excess
of $1,000,000 covering certain loss occurrences including hurricanes. The coverage of $5,000,000 in excess of $1,000,000 has a second full limit available to APPCIC; additional premium is calculated pro rata as to amount and 100% as to time, as
applicable. The total cost of APPCIC&#146;s private catastrophe reinsurance program effective June&nbsp;1, 2012 through May&nbsp;31, 2013 is $1,062,500. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">APPCIC also obtained coverage from the FHCF. The approximate coverage is estimated to be for 90% of $8,200,000 in excess of $3,200,000. The estimated premium that APPCIC plans to cede to the FHCF for the
2012 hurricane season is $570,571. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Effective October&nbsp;1, 2011 through May&nbsp;31, 2012, APPCIC had entered into a multiple line excess
per risk contract with various reinsurers. Effective June&nbsp;1, 2012, APPCIC elected to extend the multiple line excess per risk contract through June&nbsp;30, 2012, and will secure replacement coverage effective July&nbsp;1, 2012. Under the
current multiple line excess per risk contract, APPCIC has coverage of $8,400,000 in excess of $600,000 ultimate net loss for each risk and each property loss, and $1,000,000 in excess of $300,000 for each casualty loss. A $21,000,000 aggregate
limit applies to the term of the contract. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The total cost of the APPCIC multiple line excess reinsurance program effective October&nbsp;1,
2011 through May&nbsp;31, 2012 was $57,757. APPCIC&#146;s net cost was 50% or $28,878 and the quota share reinsurer&#146;s cost is the remaining 50%. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The largest private participants in APPCIC&#146;s reinsurance program include leading reinsurance companies such as Odyssey Re, Hannover Ruck, Amlin Bermuda and Lloyd&#146;s of London syndicates.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">With the implementation of the Company&#146;s 2012-2013 reinsurance program at June&nbsp;1, 2012, the Company retains a maximum pre-tax net
liability of $2,062,500 for the first catastrophic event up to $13,380,000 of losses relating to the APPCIC program. </FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="14%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">ITEM&nbsp;9.01</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>Financial Statements and Exhibits</U> </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Exhibits: </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="14%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">99.1</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Press Release dated June&nbsp;7, 2012. </FONT></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">-5-
</FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">SIGNATURES </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Pursuant to the requirements of the Securities Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. </FONT></P>
<P STYLE="font-size:24px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Date: June&nbsp;7, 2012</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">UNIVERSAL INSURANCE HOLDINGS, INC.<BR></FONT></TD></TR>
<TR>
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<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ George R. De Heer &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
<TR>
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<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">George R. De Heer</FONT></TD></TR>
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<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
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<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
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<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Chief Financial Officer</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">-6-
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Exhibit 99.1 </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:12px;margin-bottom:0px">


<IMG SRC="g364322g84m40.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>UNIVERSAL INSURANCE HOLDINGS, INC. INSURANCE SUBSIDIARIES COMPLETE 2012-2013 REINSURANCE PROGRAM
</B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Fort Lauderdale, Fla., June&nbsp;7, 2012&nbsp;-&nbsp;Universal Insurance Holdings, Inc. (&#147;Company&#148;) (NYSE MKT: UVE)</B>
announced the completion by Universal Property&nbsp;&amp; Casualty Insurance Company (&#147;UPCIC&#148;) and American Platinum Property and Casualty Insurance Company (&#147;APPCIC&#148;), the Company&#146;s wholly-owned insurance company
subsidiaries, of its 2012-2013 reinsurance program effective June&nbsp;1, 2012.&nbsp;The largest private participants in the insurance subsidiaries&#146; reinsurance program include&nbsp;leading reinsurance companies such as Odyssey Re, Everest Re,
Renaissance Re, and Lloyd&#146;s of London syndicates. The Company will file a Current Report on Form 8-K with the Securities and Exchange Commission which provides additional details regarding the program. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><U>About Universal Insurance Holdings, Inc. </U></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Universal Insurance Holdings, Inc. is a vertically integrated insurance holding company which, through its subsidiaries, covers substantially all aspects of insurance underwriting, distribution, claims
processing and exposure management. Universal Property&nbsp;&amp; Casualty Insurance Company (UPCIC), a wholly owned subsidiary of the Company, is one of the three leading writers of homeowners insurance in Florida and is now fully licensed and has
commenced its operations in North Carolina, South Carolina, Hawaii and Georgia. American Platinum Property and Casualty Insurance Company (APPCIC), also a wholly owned subsidiary, currently writes homeowners multi-peril and inland marine insurance
on Florida homes valued in excess of $1 million, which are limits and coverages currently not targeted through its affiliate UPCIC. For additional information on the Company, please visit our investor relations website at
<U>www.universalinsuranceholdings.com</U>. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Forward-Looking Statements and Risk Factors </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">This press release may contain &#147;forward-looking statements&#148; within the meaning of the Private Securities Litigation Reform Act of 1995. The
words &#147;believe,&#148; &#147;expect,&#148; &#147;anticipate,&#148; 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.&nbsp;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&nbsp;and the Company undertakes no obligation to correct or </FONT></P>

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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Universal Insurance Holdings, Inc. </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">update any forward-looking statements.&nbsp;For further information regarding risk factors that could affect the Company&#146;s operations and future
results, refer to the Company&#146;s&nbsp;reports filed&nbsp;with the Securities and Exchange Commission,&nbsp;including the Form 10-K for the year ended December&nbsp;31, 2011 and the Form 10-Q for the quarter ended March&nbsp;31, 2012. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><U>Investor Contact: </U></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Philip Kranz,
Dresner Corporate Services, 312-780-7240, <U>pkranz@dresnerco.com</U> </FONT></P>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
