Universal Insurance Holdings, Inc. · Fort Lauderdale, FL United States ·(OTC: UVIH)
Company Description
Phone: 954-958-1200
Fax: 954-958-1201
Toll Free: 800-425-9113
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This link will open in a new window Universal Insurance Holdings underwrites, distributes, and administers insurance through its subsidiaries, including Universal Property & Casualty Insurance (UPCIC). That company was formed to offer homeowners coverage in Florida, still the company's dominant line; Universal Adjusting Corporation processes claims adjustments for UPCIC. Universal Risk Advisors covers administrative duties, while Universal Florida Insurance Agency and Coastal Homeowners Insurance Specialists act as agencies for the company. Additionally, Universal Inspection Corporation performs property inspections. Universal Insurance Holdings, originally named Universal Heights, was formed in 1990 and took its current name in 2001. To read the full description, subscribe now.
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Key Universal Insurance Holdings, Inc. Financials
| Company Type | Public - OTC: UVIH Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $182.7 |
| 2008 Employees | 182 |
Universal Insurance Holdings, Inc. Executives
7 executives listed for Universal Insurance Holdings, Inc.'s Fort Lauderdale, FL location.
| Title | Name & Bio | Contact |
| President, CEO, and Director; President, Universal Property and Casualty Insurance | Bradley Meier | Network |
| SVP, COO, and Director; COO and Director, Universal Property and Casualty Insurance | Sean Downes | Network |
| EVP and CFO | James Lynch | Network |
Competition
Competitive Landscape for Universal Insurance Holdings, Inc.
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top Universal Insurance Holdings, Inc. Competitors
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