| Business Summary | | Universal
Insurance
Holdings,
Inc.
(UIH),
formerly
Universal
Heights,
Inc.,
is
a
vertically
integrated
insurance
holding
company
that,
through
its
various
subsidiaries,
covers
substantially
all
aspects
of
the
insurance
underwriting,
distribution
and
claims
process.
In
April
1997,
the
Company
organized
a
subsidiary,
Universal
Property
&
Casualty
Insurance
Company
(UPCIC),
which
participates
in
the
transfer
of
homeowner
insurance
policies
from
the
Florida
Residential
Property
and
Casualty
Joint
Underwriting
Association
(JUA).
UPCIC's
initial
business
and
operations
consisted
of
providing
property
and
casualty
coverage
through
homeowners'
insurance
policies
acquired
from
the
JUA.
The
insurance
business
acquired
from
the
JUA
provided
a
base
for
renewal
premiums.
The
majority
of
these
policies
subsequently
renewed
with
the
Company.
In
an
effort
to
further
grow
its
insurance
operations,
in
1998,
UPCIC
also
began
to
solicit
business
actively
in
the
open
market
through
independent
agents. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Universal
Insurance
Holdings,
Inc.
is
a
property
and
casualty
insurance
co.
through
its
subsidiary,
UPCIC.
UVIH
established
UPCIC
in
1997,
as
part
of
its
strategy
to
take
advantage
of
potential
business
and
growth
opportunities
in
the
marketplace.
For
the
six
months
ended
6/30/01,
revenues
rose
65%
to
$8
million.
Net
income
applicable
to
Common
rose
41%
to
$990
thousand.
Results
reflect
higher
servicing
of
insurance,
partially
offset
by
higher
frequency
of
claims. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Bradley Meier, 33 Pres,
CEO, Assistant Sec. | $270K | James Lynch, 46 CFO,
VP | 132K | Irwin Kellner, 62 Sec.,
Director | -- | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
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