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Universal Insurance Holdings, Inc. ("UIH" or the "Company") was originally
organized as Universal Heights, Inc. in 1990. The Company changed its name to
Universal Insurance Holdings, Inc. on January 12, 2001. In April 1997, the
Company organized a subsidiary, Universal Property & Casualty Insurance Company
("UPCIC"), as part of its strategy to take advantage of what management believed
to be profitable business and growth opportunities in the marketplace. UPCIC was
formed to participate in the transfer of homeowners' insurance policies from the
Florida Residential Property and Casualty Joint Underwriting Association
("JUA"). The Company has since evolved into a vertically integrated insurance
holding company, which through its various subsidiaries, covers substantially
all aspects of insurance underwriting, distribution and claims processing.
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