Universal Insurance Holdings Inc., an insurance holding company based in Fort Lauderdale, Florida, announced that its subsidiary Universal Property & Casualty Insurance Company (UPCIC) was issued a certificate of authority from the New Jersey Department of Banking and Insurance approving UPCIC as a licensed insurance entity in New Jersey.
“We are pleased to have received our first state regulatory approval of 2016, further extending our reach as a growing national homeowners insurance provider,” said Sean P. Downes, chairman and chief executive officer of Universal Insurance Holdings.
“We look forward to building our presence in New Jersey as we continue to successfully execute our geographic expansion effort,” Downes said.
Universal Insurance Holdings, with its wholly-owned subsidiaries, is a vertically integrated insurance holding company performing insurance underwriting, distribution and claims.
Universal Insurance Holdings’ subsidiary UPCIC is one of the leading writers of homeowners insurance in Florida and is also licensed in Alabama, Delaware, Georgia, Hawaii, Indiana, Maryland, Massachusetts, Michigan, Minnesota, New Hampshire, North Carolina, Pennsylvania, South Carolina, Virginia, West Virginia and now New Jersey.