Sean P. Downes - Chairman, Chief Executive Officer and President Jon W. Springer - Director, Executive Vice President and Chief Operating Officer Frank C. Wilcox - Chief Financial Officer

Hello, and welcome to the third quarter 2013 earnings presentation for Universal Insurance Holdings, Inc. I’m Frank Wilcox, the Chief Financial Officer, and making the presentation with me today are Sean Downes, Chairman, President and Chief Executive Officer, and Jon Springer, a director, Executive Vice President and Chief Operating Officer. Earlier today we filed our Form 10-Q with the Securities and Exchange Commission and issued our earnings release. To find copies of these documents, please visit the “SEC Filings” and “Press Releases” sections of our website at www.universalinsuranceholdings.com. Our SEC filings can also be found on the SEC’s website. An audio recording of this presentation will be available on the homepage of our website until December 4, 2013. Before we begin, please note that this presentation may contain forward-looking statements about our business and financial results. Forward-looking statements reflect our current views regarding future events and are typically associated with the use of words such as "believe," "expect," "anticipate," and similar expressions. We caution those listening, including investors, not to rely on forward-looking statements. They imply risks and uncertainties, some of which cannot be predicted or quantified, and future results could differ materially from expectations. We encourage you to carefully consider the risks described in our filings with the SEC, available on the SEC’s website or the “SEC Filings” section of our website. We do not undertake any obligation to update or correct any forward-looking statements. With that said, I would like to turn the presentation over to Sean Downes.

Thank you Frank. I am pleased to make the first earnings presentation of Universal Insurance Holdings, Inc. I will provide some highlights of our quarter and first nine months of 2013. Jon will then discuss the quarter’s operational details, and then Frank will conclude by discussing our quarterly financial highlights. It has been an exciting quarter and nine months at the Company. In February, we began our second generation of leadership. With the help of the board of directors, we assembled a management team of experienced, knowledgeable individuals, and it is an honor to work with all of them. Joining me on this leadership team are Jon as Chief Operating Officer, Frank as Chief Financial Officer, and Steve Donaghy as Chief Administrative Officer. Also, in June, our shareholders voted to add two independent directors to our board, Scott Callahan and Darryl Lewis. Scott’s broad knowledge of the reinsurance industry has allowed him to provide valuable perspective to our board, particularly on matters related to the Company’s reinsurance program. Darryl’s legal experience and deep knowledge of the Florida business market make him a valuable member of our board, and I am pleased to be working with both men. Next, I would like to discuss our third quarter and year-to-date results. We are pleased to report our best third-quarter operating results in the history of the company. These results reflect our continued dedication to our business model and our consistent attention to improving our overall rate adequacy. These factors contributed to net income of $14.4 million for the quarter and $43.4 million year-to-date, an improvement of $6.2 million and $17.5 million over last year’s third quarter and year-to-date period, respectively. We experienced higher net earned premiums during the quarter, and our revamped claims and legal departments contributed to a reduction in losses…

Thank you Sean. Let me highlight first the operations and results of our two insurance subsidiaries, Universal Property & Casualty Insurance Company, which we call “UPCIC,” and American Platinum Property and Casualty Insurance Company, which we call “APPCIC.” UPCIC is our primary insurance subsidiary that provides homeowners coverage in seven states, though primarily in Florida. APPCIC is our other insurance subsidiary that focuses on Florida homes valued in excess of $1 million. I also want to mention our 2013-2014 reinsurance program. We believe that our third quarter results are indicative of the continuing improvement in the overall fundamentals of our insurance operations. For example, speaking specifically about UPCIC, we sought from regulators and obtained over the past five years regular rate adjustments in an attempt to achieve appropriate levels of underwriting return for the corresponding risk we assume from our Florida policyholders. As expected, these rate adjustments, coupled with our decision not to renew certain policies identified by our internal profitability measure as providing inadequate premiums relative to projected risks and expenses, resulted in a reduction in the number of policyholders that UPCIC insures in Florida. Over the first nine months of 2013, UPCIC’s policy count dropped from 543,000 to 511,000. This reduction in UPCIC’s in-force policy count in Florida corresponds to a reduction of nearly $8 billion in insured values, which is a 6.7% reduction. This reduction in insured values has led to a 7.3% reduction in the modeled 1 in 100 year event based on catastrophe modeling performed using RMS® North Atlantic Hurricane Model RiskLink version 13.0. But, despite this reduction in exposure and modeled losses, UPCIC’s in-force premium in Florida has remained relatively flat during this period. During the same period, we continued our growth and expansion in the six other states in which we write policies,…

Thank you Jon. I’d like to take some time to provide a little more background around the financial results and their drivers. As mentioned earlier, net income for the third quarter totaled $14.4 million, which compared to $8.3 million in 2012, is a 75% increase. For the first nine months of 2013, net income totaled $43.4 million compared to $25.9 million in 2012, a 68% increase. These results were fueled in large part by the improved underwriting results already discussed. Sean also mentioned that EPS for the third quarter was $0.40, which is a $0.20, or 100% increase from the same quarter in 2012. EPS for the first nine months of 2013 was $1.13, which is a $0.49, or 77% increase compared to 2012. The repurchases of common shares contributed $0.06 and $0.10, respectively, to EPS for the three-month and nine-month periods in 2013. Accordingly, the comparative improvement in EPS for the third quarter and first nine months of 2013 are not indicative of future performance. Net earned premiums increased $9.4 million, or 16%, for the third quarter and $37.4 million, or 23%, for the first nine months of 2013. The strategic rate increases and lower reinsurance costs effective with the 2013-2014 reinsurance program improved results for both the quarter and first nine months of 2013. In addition, a reduction in the quota share cession rate of 5%, which first became effective in June 2012, increased earned premium for the nine month period 2013 compared to 2012. The insignificant amount of unrealized gains and losses flowing through the income statement during the quarter reflects the liquidation of our trading portfolio in March of this year and our purchase, since then, of a portfolio of investments available-for-sale comprised mostly of investment grade fixed maturities and large cap equities. Our fixed maturity…

In closing, I would like to thank all of the agents, policyholders and employees of UPCIC and APPCIC. I would also like to thank all of our directors and shareholders, as well as our management team for their loyalty and dedication to the Company. This concludes our presentation.