Universal Insurance to Write P/C in South Carolina

Universal Insurance Holdings Inc., a vertically integrated insurance holding company, announced that its subsidiary Universal Property and Casualty Insurance Company (UPCIC), has received approval from the South Carolina Department of Insurance to write property and casualty insurance in the state of South Carolina.

UPCIC intends to file for approval for its rates and forms with the South Carolina Department of Insurance by the end of the third quarter with the anticipation of writing new business after the end of the 2008 hurricane season.

Bradley Meier, president and chief executive officer, commented, "We are pleased to have been approved to write property and casualty insurance in South Carolina. This is the beginning step in Universal's plans for geographic expansion, and it is consistent with our goal to capitalize on our expertise and create additional growth opportunities. We look forward to meeting the property and casualty needs of the citizens of South Carolina."