Universal Insurance Holdings, Inc. Subsidiary Universal Property Receives Certificate of Authority in Tennessee

Universal Insurance Holdings, Inc. (NYSE: UVE) announced today that its wholly-owned subsidiary, Universal Property & Casualty Insurance Company (Universal Property), has received a Certificate of Authority in Tennessee, approving Universal Property as a licensed insurance entity in Tennessee.

"We are pleased to announce our planned expansion into Tennessee, which represents our 19^th licensed state where we will be doing business. We continue to execute on our strategic priorities, expand our addressable market and diversify our book of business to strengthen our foundation for the future," said Universal Insurance Holdings, Inc. Chief Executive Officer Stephen J. Donaghy.

Learn more about purchasing a Universal Property policy online at UniversalProperty.com or shop your policy at Clovered.com.

About Universal Insurance Holdings, Inc.

Universal Insurance Holdings (UVE) is a holding company offering property and casualty insurance and value-added insurance services. We develop, market, and write insurance products for consumers predominantly in the personal residential homeowners lines of business and perform substantially all other insurance-related services for our primary insurance entities, including risk management, claims management and distribution. We sell insurance products through both our appointed independent agents and through our direct online distribution channels in the United States across 18 states (primarily Florida). Learn more at UniversalInsuranceHoldings.com.

Forward-Looking Statements

This press release may contain "forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The words "believe,” "expect,” "anticipate,” "will,” "plan,” 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. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, including those risks and uncertainties described under the heading "Risk Factors” in the Company’s Annual Report on Form 10-K and in the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2020, as well as in our other filings with the SEC. Future results could differ materially from those described, and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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