Universal Insurance announces new $20M share repurchase program

Universal Insurance Holdings announced that its Board of Directors has authorized a new share repurchase program under which the Company may repurchase up to $20M of its outstanding shares of common stock through March 11. Share repurchases may be made by the Company from time to time in open market transactions at prevailing market prices. The Company intends to effect repurchase transactions in compliance with Rule 10b-18 under the Securities Exchange Act of 1934 and the Company’s insider trading policy.