Miguel A. Barrales has been named president of Universal Insurance Holdings of North America, a multi-regional insurance carrier with 170 employees and operations in 17 states.
Universal North America is a subsidiary of Universal Group Inc., Puerto Rico’s principal supplier of property/casualty, auto and life insurance, policy financing and investment products.
Based in Sarasota, Fla., Barrales will direct Universal North America’s business operations and strengthen its overall presence and relationships in the United States.
Barrales brings more than 15 years of global experience in underwriting and management to Universal North America. Previously, he was CEO of Flagstone Underwriters Latin America and also held senior management positions with Swiss Re, a reinsurance company.
In less than seven years, Universal North America has grown from a start-up company in one state to a diverse insurer providing homeowners, commercial, auto, flood and home equipment insurance coverage to 270,000 policyholders across the country. Universal North America Insurance Co. holds a financial strength rating of A- (Excellent) by A.M. Best.
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