Universal Insurance Holdings Inc. has announced that its wholly-owned subsidiary, Universal Property & Casualty Insurance Company (UPCIC), has written its first homeowners policy in New York. The company also announced the official launch of Universal Direct, the direct-to-consumer online platform for UPCIC products, in New York.
This step highlights the progress the company has made in executing its geographic expansion strategy, which it expects will continue to produce profitable top-line growth and create value for its shareholders, said Universal Insurance Holdings Chairman and CEO Sean Downes in a company press release.
New York marks the sixteenth state of operation for UPCIC, each of which offers customers access to UPCIC homeowners insurance policies through its direct-to-consumer online platform, Universal Direct. Independent appointed agents operating in New York have the opportunity to receive commissions from policies written by UPCIC via Universal Direct.
Universal Insurance Holdings Inc., with its wholly-owned subsidiaries, is a vertically integrated insurance holding company performing all aspects of insurance underwriting, distribution and claims.
Source: Universal Insurance Holdings Inc.
Was this article valuable?
Here are more articles you may enjoy.