<SEC-DOCUMENT>0001193125-14-222189.txt : 20140623
<SEC-HEADER>0001193125-14-222189.hdr.sgml : 20140623
<ACCEPTANCE-DATETIME>20140602160536
ACCESSION NUMBER:		0001193125-14-222189
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20140530
ITEM INFORMATION:		Other Events
FILED AS OF DATE:		20140602
DATE AS OF CHANGE:		20140602

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:		14884092

	BUSINESS ADDRESS:	
		STREET 1:		1110 W. COMMERCIAL BLVD.
		STREET 2:		SUITE 100
		CITY:			FORT LAUDERDALE
		STATE:			FL
		ZIP:			33309
		BUSINESS PHONE:		954-958-1200

	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>d737396d8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML><HEAD>
<TITLE>Form 8-K</TITLE>
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 8-K </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">CURRENT REPORT </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">Pursuant to
Section&nbsp;13 or 15(d) of the </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">Securities Exchange Act of 1934 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;May 30, 2014
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Date of report (Date of earliest event reported) </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B><U>Universal Insurance Holdings, Inc.</U> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Exact name of registrant as specified in its charter) </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center" STYLE="border-bottom:1.00px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Delaware</B></P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" STYLE="border-bottom:1.00px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>001-33251</B></P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" STYLE="border-bottom:1.00px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>65-0231984</B></P></TD></TR>
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<TD VALIGN="top" ALIGN="center">(State or other jurisdiction of incorporation or organization)</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center">(Commission file number)</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(IRS Employer</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Identification No.)</P></TD></TR>
</TABLE> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>1110 W. Commercial Blvd., Fort Lauderdale, Florida 33309 </U></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Address of Principal Executive Offices) </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Registrant&#146;s telephone number, including area code:<U>&nbsp;(954) 958-120</U><U>0</U> </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">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): </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425). </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12). </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)). </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)). </TD></TR></TABLE> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;8.01 <U>Other Events</U>. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On May 30, 2014, Universal Property&nbsp;&amp; Casualty Insurance Company (&#147;UPCIC&#148;) and American Platinum Property and Casualty Insurance Company
(&#147;APPCIC&#148; and together with UPCIC, the &#147;Insurance Entities&#148;), each a wholly-owned subsidiary of Universal Insurance Holdings, Inc. (&#147;Company&#148;), completed the placement of the Company&#146;s 2014-2015 reinsurance program
effective June&nbsp;1, 2014. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Reinsurance Generally </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In the normal course of business, the Company seeks to limit the maximum net loss to the Insurance Entities that can arise from large risks, from having risks
in concentrated areas of exposure and from catastrophes, such as hurricanes or other similar loss occurrences. The Insurance Entities therefore purchase certain reinsurance from other insurers or reinsurers to mitigate these potential losses. 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 available 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. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Below is a description of our 2014-2015 reinsurance program. Although the terms of the individual contracts vary, we believe that the overall terms of the
2014-2015 reinsurance program are more favorable than the 2013-2014 reinsurance program. We realized cost reductions in our 2014-2015 reinsurance program in part due to market conditions and our preparation and efforts to manage risk exposure. We
also are retaining a greater percentage of gross written premiums with wind risk than we did under our 2013-2014 reinsurance program. There can be no assurance that our actual results of operations or financial condition will be positively affected
by the 2014-2015 reinsurance program. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">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. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>UPCIC Reinsurance Program </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Effective June&nbsp;1, 2014,
UPCIC commences the second year of a two-year quota share reinsurance contract with Odyssey Reinsurance Company, which provides coverage through May&nbsp;31, 2015. Under the quota share contract, through May&nbsp;31, 2015, UPCIC cedes 30% of its
gross written premiums, losses and loss adjustment expenses for policies with coverage for wind risk with a provisional ceding commission equal to 29% of ceded gross written premiums. The ceding commission is adjusted once the contract term expires
on May&nbsp;31, 2015 based on the ultimate contractual loss and loss adjustment expense ratio, subject to a minimum ceding commission of 27%. The quota share contract has a limitation for any one occurrence not to exceed $125,000,000 from losses
arising out of events that are assigned a catastrophe serial number by the Property Claims Services (&#147;PCS&#148;) office and an aggregate limitation from losses arising out of events that are assigned a catastrophe serial number by the PCS
office not to exceed $280,000,000. The contract limits the amount of premium which can be deducted for inuring reinsurance. Effective June&nbsp;1, 2014, UPCIC will be retaining 15% more of its gross written premiums for policies with coverage for
wind risk than it did for the June&nbsp;1, 2013 through May&nbsp;31, 2014 period. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Effective June&nbsp;1, 2014 through May&nbsp;31, 2015, under various excess catastrophe contracts, UPCIC obtained
catastrophe coverage of 30% of $677,500,000 in excess of the quota share occurrence cap of $125,000,000, covering certain loss occurrences including hurricanes. The catastrophe coverage has a second full limit available with additional premium
calculated pro rata as to amount and 100% as to time, as applicable. Effective June&nbsp;1, 2014 through May&nbsp;31, 2015, under various excess catastrophe contracts, UPCIC also obtained catastrophe coverage of 70% of $712,500,000 in excess of
$90,000,000, covering certain loss occurrences including hurricanes. The catastrophe coverage has a second full limit available with additional premium calculated pro rata as to amount and 100% as to time, as applicable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For capacity with reinstatement premium, UPCIC purchased reinstatement premium protection which reimburses UPCIC for its cost to reinstate the catastrophe
coverage up to the top of the estimated Florida Hurricane Catastrophe Fund (&#147;FHCF&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Effective June&nbsp;1, 2014 through May&nbsp;31, 2015,
under an underlying excess catastrophe contract, UPCIC also obtained catastrophe coverage of 70% of $60,000,000 in excess of $30,000,000, covering certain loss occurrences including hurricanes. The catastrophe coverage has two free reinstatements.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The total cost of UPCIC&#146;s private catastrophe reinsurance program, effective June&nbsp;1, 2014 through May&nbsp;31, 2015, is $99,866,250 to UPCIC
and $31,751,250 to the quota share reinsurer. In addition, UPCIC purchases reinstatement premium protection as described above, the cost of which is $15,557,038. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Effective June&nbsp;1, 2014 through May&nbsp;31, 2015, UPCIC purchased subsequent catastrophe event excess of loss reinsurance to cover certain levels of loss
through three catastrophe events including hurricanes. Specifically, UPCIC obtained catastrophe coverage that covers 30% of $95,000,000 excess of $30,000,000 in excess of $190,000,000 otherwise recoverable. The total cost of the third event
catastrophe excess of loss reinsurance contract is $3,800,000, of which UPCIC&#146;s cost is $0, and the quota share reinsurer&#146;s cost is the entire amount. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Effective June&nbsp;1, 2014 through May&nbsp;31, 2015, 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. The total cost of UPCIC&#146;s multiple line excess of loss risk reinsurance program, effective June&nbsp;1, 2014 through May&nbsp;31,
2015, is $3,100,000 of which UPCIC&#146;s cost is $2,170,000, and the quota share reinsurer&#146;s cost is the remaining $930,000. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Effective June&nbsp;1, 2014 through June&nbsp;1, 2015, under an excess catastrophe contract specifically covering
risks located in Delaware, Georgia, Maryland, Massachusetts, North Carolina and South Carolina, UPCIC obtained catastrophe coverage consisting of three layers of 70% of $95,000,000 in excess of $30,000,000, covering certain loss occurrences
including hurricanes. The catastrophe coverage has a second full limit available with additional premium 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 Delaware, Georgia, Maryland, Massachusetts, North Carolina and South Carolina is $3,421,250. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Effective June&nbsp;1, 2014 through June&nbsp;1,
2015, under an excess catastrophe contract specifically covering risks located in Hawaii, UPCIC obtained catastrophe coverage of 70% of $20,000,000 in excess of $10,000,000 covering certain loss occurrences including hurricanes. The layer of
coverage has a second full limit available to UPCIC with additional premium calculated pro rata as to amount and 100% as to time, as applicable. The cost of UPCIC&#146;s excess catastrophe contract specifically covering risks in Hawaii is $392,000.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">UPCIC also obtained coverage from the FHCF. The approximate coverage is estimated to be for 90% of $1,025,000,000 in excess of $375,000,000. The
estimated premium that UPCIC plans to cede to the FHCF for the 2014 hurricane season is $69,368,919 of which UPCIC&#146;s cost is 70%, or $48,558,243, and the quota share reinsurer&#146;s cost is the remaining 30%. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">With the implementation of the Company&#146;s 2014-2015 reinsurance program at June&nbsp;1, 2014, the Company retains a pre-tax net liability of $21,000,000
for the first, second and third catastrophic events relating to the UPCIC Florida program. The Company also retains a pre-tax net liability of $21,000,000 for the first and second catastrophic events relating to the UPCIC Delaware, Georgia,
Maryland, Massachusetts, North Carolina and South Carolina program, and a pre-tax net liability of $7,000,000 for the first and second catastrophic events relating to the UPCIC Hawaii program. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The largest private participants in UPCIC&#146;s reinsurance program include Odyssey Re, Everest Re, Renaissance Re, Nephila Capital, ACE Tempest Re and
Lloyd&#146;s of London syndicates. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>APPCIC Reinsurance Program </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Effective June&nbsp;1, 2014 through May&nbsp;31, 2015, under three layers in an excess catastrophe contract, APPCIC obtained catastrophe coverage of
$15,500,000 in excess of $2,500,000 covering certain loss occurrences including hurricanes. The coverage of $15,500,000 in excess of $2,500,000 has a second full limit available to APPCIC, with additional premium 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, 2014 through May&nbsp;31, 2015 is $1,513,250. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Effective June&nbsp;1, 2014 through May&nbsp;31, 2015, APPCIC purchased reinstatement premium protection which reimburses APPCIC for its cost to reinstate the
first layer of $8,500,000 in excess of $2,500,000. The cost of APPCIC&#146;s purchased reinstatement premium protection is $223,842. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">APPCIC also obtained
coverage from the FHCF. The approximate coverage is estimated to be 90% of $30,000,000 in excess of $11,000,000. The estimated premium that APPCIC plans to cede to the FHCF for the 2014 hurricane season is $1,697,155. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Effective June&nbsp;1, 2014 through May&nbsp;31, 2015, APPCIC entered into a multiple line excess per risk contract with various reinsurers. Under the current
multiple line excess per risk contract, APPCIC has coverage of $8,700,000 in excess of $300,000 ultimate net loss for each risk and each property loss, and $1,000,000 in excess of $300,000 for each casualty loss. A $20,100,000 aggregate limit
applies to the term of the contract for property related losses and a $2,000,000 aggregate limit applies to the term of the contract for casualty related losses. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The total cost of the APPCIC multiple line excess reinsurance program effective June&nbsp;1, 2014 through May&nbsp;31, 2015 is $1,670,000. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">With the implementation of the Company&#146;s 2014-2015 reinsurance program at June&nbsp;1, 2014, the Company retains a pre-tax net liability of $2,500,000
for the first and second catastrophic events relating to the APPCIC program. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The largest private participants in APPCIC&#146;s reinsurance program
include ACE Tempest Re, Hiscox, Odyssey Re, Hannover Ruck, and Lloyd&#146;s of London syndicates. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Forward-Looking Statements </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Certain statements in this Current Report on Form 8-K are &#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. Forward-looking statements are inherently
subject to risks and uncertainties, some of which cannot be predicted or quantified. Future results or events could differ materially from those described and the Company undertakes no obligation to correct or update any forward-looking statements.
For further information regarding risk factors that could affect the Company&#146;s operations and future results, refer to the Company&#146;s reports filed with the Securities and Exchange Commission, including the Form 10-K for the year ended
December&nbsp;31, 2013. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom">UNIVERSAL INSURANCE HOLDINGS, INC.</TD></TR>
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<TD VALIGN="top">Date: June&nbsp;2, 2014</TD>
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<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Sean P. Downes</TD></TR>
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<TD VALIGN="top">President and Chief Executive Officer</TD></TR>
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