Universal Insurance Holdings Appoints Jason M. Burns as New President of Blue Atlantic

Rhea-AI Summary

Universal Insurance Holdings (NYSE: UVE) has appointed Jason M. Burns as President of Blue Atlantic, its fully-licensed reinsurance intermediary, effective immediately. Burns, with 14 years at Chubb Tempest Re and extensive experience in property catastrophe underwriting, is expected to bring valuable insights, particularly in the Florida market. This leadership change is anticipated to enhance UVE's operations in the reinsurance sector.

Positive

• Jason Burns brings 14 years of relevant experience from Chubb Tempest Re.
• His expertise in the Florida market could strengthen UVE's reinsurance operations.

Negative

• None.

Universal Insurance Holdings, Inc. (NYSE: UVE) announced today that Jason M. Burns will take on the role of President of Blue Atlantic, UVE’s fully-licensed reinsurance intermediary, effective immediately.

“I am very pleased to announce that Jason Burns has been named President of Blue Atlantic. Jason will join us from Chubb Tempest Re where he spent 14 years as a property catastrophe and property pro rata underwriter in Bermuda and the US. Jason is a highly skilled reinsurance professional who is extremely well respected and regarded in the reinsurance business and understands the Florida market very well,” said Steve Donaghy, Chief Executive Officer.

Mr. Burns, 41, began his insurance career at The Hartford working in the Personal Lines Division. He began his reinsurance career at OdysseyRe as a property treaty underwriter in 2004. He joined Chubb Tempest Re in 2006 (then ACE) as a property cat underwriter focusing on clients located in the United States. He most recently managed the US Pro Rata and Risk portfolio for Chubb Tempest Re out of the Stamford, Connecticut office.

Mr. Burns received his bachelor’s degree from Trinity College in Hartford, CT (2002).

About Universal Insurance Holdings, Inc.

Universal Insurance Holdings (UVE) is a holding company offering property and casualty insurance and value-added insurance services. We develop, market, and write insurance products for consumers predominantly in the personal residential homeowners lines of business and perform substantially all other insurance-related services for our primary insurance entities, including risk management, claims management and distribution. We sell insurance products through both our appointed independent agents and through our direct online distribution channels in the United States across 19 states (primarily Florida). Learn more at UniversalInsuranceHoldings.com.

Forward-Looking Statements

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,” “will,” “plan,” 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, including those risks and uncertainties described under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K, and supplemented in our subsequent Quarterly Reports on Form 10-Q. Future results could differ materially from those described, and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. 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 the Company’s Annual Report on Form 10-K and the most recent quarterly reports on Form 10-Q.

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FAQ

Who is Jason M. Burns and what is his new role at Universal Insurance Holdings?

Jason M. Burns has been named President of Blue Atlantic, UVE's reinsurance intermediary, effective immediately.

What experience does Jason Burns have that will benefit UVE?

Burns has 14 years of experience in property catastrophe underwriting at Chubb Tempest Re and is well-versed in the Florida market.

When did Jason M. Burns start his role at Blue Atlantic?

Jason M. Burns's appointment as President of Blue Atlantic is effective immediately as of the announcement.