Universal Insurance Holdings, Inc. announced that it has received $100 million in funding
November 22, 2021
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Universal Insurance Holdings, Inc. announced that it has entered into a note purchase agreement with certain institutional accredited investors and qualified institutional buyers for private placement of 5.625% senior unsecured notes due 2026 for gross proceeds of $100,000,000 on November 23, 2021. The Notes bear interest at a rate of 5.625% per annum, subject to adjustment from time to time in the event of a downgrade or subsequent upgrade of the rating assigned to the Notes. Interest on the Notes will be payable by the Company on May 30 and November 30 of each year, beginning on May 30, 2022. The Notes mature on November 30, 2026. The company has issued securities pursuant to exemption provided under Section 4(a)(2) of the Securities Act of 1933, pursuant to Section 4(a)(2) of the Securities Act and Rule 506(b) of Regulation D thereunder to 40 investors.
Universal Insurance Holdings, Inc. is a holding company that offers property and casualty insurance and value-added insurance services. It develops, markets, and underwrites insurance products for consumers in the personal residential homeownerâs lines of business and other insurance-related services for its insurance entities, including risk management, claims management, and distribution. Its primary insurance entities include Universal Property & Casualty Insurance Company (UPCIC) and American Platinum Property and Casualty Insurance Company. UPCIC distributes policies through its independent agency force and offers various types of personal residential insurance, such as homeowners, renters/tenants, condo unit owners, and dwelling/fire. It also offers allied lines, coverage for other structures, and personal property, liability, and personal articles coverages. Through its subsidiary, Evolution Risk Advisors, Inc., it advises on actuarial issues and administers claims payments.
UNIVERSAL INSURANCE HOLDINGS, INC. 
