Universal Insurance Holdings Inc (UVE)

[seeksup]

My expectation is that UVE will someday (soon) be able to spread the risk around so that one Florida hurricane doesn't kill them. I am encouraged by the following:

From the 10-Q:

On July 16, 2008, August 18, 2008, September 30, 2008, and January 29, 2009, UPCIC was licensed to transact insurance business within the States of South Carolina, Hawaii, North Carolina, and Georgia, respectively. The State of North Carolina Department of Insurance has restricted UPCIC to writing no more than $12.0 million of direct premiums in each of the first two full calendar years after which such restriction may be lifted. UPCIC has commenced writing homeowners policies in South Carolina, North Carolina and Hawaii.
   
On May 8, 2009, the Company filed an application to the Texas Department of Insurance to form a separate property and casualty insurance subsidiary to write homeowners coverage in that State. In addition, UPCIC has filed to offer flood insurance through the NFIP.

On the other hand, now we'll have to worry about hurricanes hitting Hawaii, the Carolinas, and Texas, LOL.