Florida-based Universal Property & Casualty Insurance Co. (UPCIC) has applied to expand into Indiana, Minnesota and Delaware.
UPCIC is one of the leading writers of homeowners insurance in Florida and a fully licensed operator in North Carolina, South Carolina, Hawaii, Georgia, Massachusetts and Maryland.
“Geographic diversification comprises a core component of our strategy to drive growth and increase shareholder value. By leveraging our experience as a leading writer of homeowners insurance in Florida, we have extended UPCIC’s footprint and profitable business model to seven markets in total over the past five years. We believe this is an opportune time to seek entry into new markets, supported by our strong financial position and positive industry dynamics,” said Sean P. Downes, the chairman, president and chief executive officer.