FORT LAUDERDALE, Fla.,
Jan. 24, 2017 /PRNewswire/ --
Universal Insurance Holdings, Inc. (NYSE: UVE) announced
today the addition of Kimberly
Cooper, the Company's Chief Information Officer and Chief
Administrative Officer, to its Board of Directors, effective
January 19, 2017. The appointment
expands the Board of Directors to ten directors, seven of whom are
independent. Ms. Cooper will be included in the
Company's proxy statement for election at its 2017 Annual Meeting
of Shareholders.
Ms. Cooper joined the Company in 2007 and became Chief
Administrative Officer in June 2015
and Chief Information Officer in February
2015. Prior to assuming these roles, Ms. Cooper spent eight
years in the Company's internal audit department, serving as both
IT Manager and then IT Audit Director. She managed IT general
controls reviews and new application deployment and performed
ongoing security and risk awareness training to improve operational
efficiencies and ensure ongoing compliance with regulatory
requirements. Ms. Cooper has significant experience in information
technology, risk management, regulatory compliance and operational
efficiency practices.
"We are pleased to welcome Kim to our Board of Directors," said
Sean P. Downes, the Company's
Chairman and Chief Executive Officer. "For the past nine years, Kim
has been a tremendous asset to our Company and worked closely with
senior management to develop and implement many of the Company's
risk management assessment practices and key IT systems and
processes. The Board looks forward to benefiting from Kim's
expertise as we prepare our Own Risk and Solvency Assessment
(ORSA) report as required by the National Association of Insurance
Commissioners."
Before joining the Company, Ms. Cooper supervised audit and
assurance engagements for Fortune 500 clients in the financial
services industry, both domestically and internationally, as part
of the systems and process assurance practice at
PricewaterhouseCoopers. She is a licensed Certified Information
Security Auditor and is Certified in Risk and Information Security
Controls. Ms. Cooper holds a Bachelor of Science degree from the
University of California, Berkeley.
About Universal Insurance Holdings, Inc.
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.
Universal Property & Casualty Insurance Company (UPCIC), a
wholly-owned subsidiary of the Company, is one of the leading
writers of homeowners insurance in Florida and is now fully licensed and has
commenced its operations in North
Carolina, South Carolina,
Hawaii, Georgia, Massachusetts, Maryland, Delaware, Indiana, Pennsylvania, Minnesota, Michigan, Alabama and Virginia. American Platinum Property and
Casualty Insurance Company (APPCIC), also a wholly-owned
subsidiary, currently writes homeowners multi-peril insurance on
Florida homes valued in excess of
$1 million, which are limits and
coverages currently not targeted through its affiliate UPCIC.
APPCIC is additionally licensed to write Fire, Commercial
Multi-Peril, and Other Liability lines of business in
Florida. For additional information on the Company, please
visit our investor relations website
at www.universalinsuranceholdings.com.
Forward-Looking Statements and Risk Factors
This
press release may contain "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
The words "believe," "expect," "anticipate," and similar
expressions identify forward-looking statements, which speak only
as of the date the statement was made. Such statements may include
commentary on plans, products and lines of business, marketing
arrangements, reinsurance programs and other business developments
and assumptions relating to the foregoing. Forward-looking
statements are inherently subject to risks and uncertainties, some
of which cannot be predicted or quantified. Future results could
differ materially from those described, and the Company undertakes
no obligation to correct or update any forward-looking statements.
For further information regarding risk factors that could affect
the Company's operations and future results, refer to the Company's
reports filed with the Securities and Exchange Commission,
including Form 10-K for the year ended December 31, 2015.
Investor Contact:
Andy
Brimmer / Mahmoud Siddig
Joele Frank, Wilkinson Brimmer
Katcher
212-355-4449
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SOURCE Universal Insurance Holdings, Inc.