Exhibit 99.1

Universal Insurance Holdings, Inc. Reports Second Quarter 2018 Results

Fort Lauderdale, FL, July 25, 2018 – Universal Insurance Holdings, Inc. (NYSE: UVE) today reported net income and diluted earnings per share (EPS) of $46.1 million and $1.29, respectively for the second quarter of 2018.

Universal Insurance Holdings, Inc. Chairman and Chief Executive Officer Sean P. Downes commented: “Universal once again reported excellent top line growth and strong underwriting profitability, leading to a solid bottom line result and an annualized ROE of 37.8% for the second quarter. We continue to post strong organic growth in our home state of Florida, while our expansion efforts into Other States remain on track and are delivering excellent results. Universal Direct^SM continues to generate steady growth, and contributed in each of our active states during the quarter. Our vertically integrated structure again contributed favorably to results, with improved profitability at Universal Adjusting Corporation (UAC) resulting from increased service activity following Hurricane Irma. Our balance sheet remains strong and conservatively positioned, and we completed our 2018-2019 reinsurance program during the quarter, building further on the recent trend of adding conservatism to our reinsurance program while lowering the percentage of premium spent on reinsurance. We were also active on the capital management front during the quarter, repurchasing $8.4 million of UVE stock and announcing an increased quarterly dividend beginning in the third quarter. We are very pleased with our second quarter results and believe Universal remains well positioned to deliver outstanding value to shareholders going forward.”

Second Quarter 2018 Highlights

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Second Quarter 2018 Results

Direct premiums written grew 15.7% from the prior year’s quarter to $342.8 million, with 13.0% growth in our Florida book and 36.5% growth in our Other States book. Our Florida organic growth strategy continues to produce solid results, with underlying growth in policies in force bolstered by the average statewide rate increase of 3.4% approved in late 2017. Our Other States organic geographic expansion efforts also continue to deliver excellent results, and in early April, we wrote our first policy in New Hampshire, our 17^th state of operation. For the quarter, net premiums earned grew 13.8% to $192.3 million.

Commission revenue grew by 22.9% versus the prior year’s quarter to $5.7 million, including a benefit of approximately $0.9 million of reinstatement commissions received by Blue Atlantic Reinsurance Corporation during the second quarter of 2018. Policy fees grew by 9.8% versus the prior year’s quarter to $5.8 million, driven by an increase in the number of new and renewal policies written compared to the prior year. Other revenue of $1.6 million declined modestly by 1.1% compared to the prior year’s quarter.

The net combined ratio was 77.2% in the second quarter of 2018 compared to 81.3% in the prior year’s quarter, driven by a reduction in both the loss and loss adjustment expense ratio and the general and administrative expense ratio.

The net loss and LAE ratio was 46.7% in the second quarter of 2018, compared to 47.4% for the prior year’s quarter. The main drivers of the change in the loss and LAE ratio are as follows:

The net general and administrative expense ratio was 30.5% in the second quarter of 2018, compared to 33.9% for the prior year’s quarter, as both the policy acquisition cost ratio and the other operating expense ratio declined compared to the prior period. The net policy acquisition cost ratio was 17.4% compared to 19.5% in the prior year, while the net other operating expense ratio was 13.0% compared to 14.4% in the prior year. General and administrative expenses for the second quarter of 2018 included a benefit of $6.5 million (3.4 points), included within policy acquisition costs, related to a settlement of prior year premium tax audits.

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Net investment income grew by 79.5% from the prior year’s quarter to $5.8 million, driven by an increase in total cash and invested assets compared to the prior year, a shift in asset mix, and an increased yield as compared to the prior year’s quarter. Net realized investment gains were $0.1 million in the second quarter of 2018, compared to net realized gains of $1.7 million in the prior year’s quarter. Net unrealized investment losses were $1.5 million during the second quarter of 2018; we highlight that this line item was added during the quarter ended March 31, 2018, because of the adoption of accounting guidance for equity securities, and as such, this item was not presented in the comparable prior year’s quarter. Total unrestricted cash and invested assets was $1.06 billion at June 30, 2018, growth of 20.2% from $880.4 million at June 30, 2017.

Interest expense was $90 thousand for the second quarter of 2018, compared to $86 thousand in the prior year’s quarter, with long term debt of $12.1 million at June 30, 2018 (debt-to-equity of 2.5%), compared to $13.6 million as of June 30, 2017 (debt-to-equity of 3.2%).    

The effective tax rate for the second quarter of 2018 was 24.8%, compared to 38.7% in the prior year’s quarter. The decrease in our effective tax rate is primarily the result of the enactment of the Tax Cuts and Jobs Act of 2017, which resulted in a reduction in the federal corporate tax rate from 35.0% to 21.0% effective January 1, 2018. The current year’s quarter included net discrete items of $0.6 million, primarily from excess tax benefits resulting from stock-based awards that vested and/or were exercised during the second quarter, benefitting the current quarter’s effective tax rate by 1.0 percentage points.

Stockholders’ equity was $492.1 million at June 30, 2018, growth of 5.8% from March 31, 2018 or 16.9% from June 30, 2017. Book value per common share was $14.11 at June 30, 2018, growth of 6.2% from March 31, 2018 or 16.7% from June 30, 2017. Annualized Return on Average Common Equity (ROE) was 37.8% for the second quarter of 2018 compared to 27.9% for the second quarter of 2017.

During the second quarter, the Company repurchased 250,000 shares for $8.4 million, or an average cost of $33.48 per share. Our current share repurchase authorization program has $8.7 million remaining and runs through December 31, 2018.

On April 12, 2018, the Company announced that its Board of Directors declared a cash dividend of $0.14 per share of common stock, which was paid on May 4, 2018 to shareholders of record as of April 27, 2018. On May 29, 2018, the company announced that its Board of Directors declared an increased quarterly cash dividend of $0.16 per share of common stock for the third quarter of 2018, an increase of $0.02 per share or 14.3% from the dividend paid in the first and second quarters of 2018. The third quarter dividend was paid on July 16, 2018 to shareholders of record on July 2, 2018.

Conference Call

Members of the Universal management team will host a conference call on Thursday, July 26, 2018 at 10:00 AM ET to discuss second quarter 2018 financial results. Following prepared remarks, management will conduct a question and answer session. The call will be accessible by dialing toll free at (855) 752-6647 or internationally (toll) at (503) 343-6667 using the Conference ID: 4628248. A live audio webcast of the call will also be accessible on the Universal Insurance website at www.universalinsuranceholdings.com. A replay of the call can be accessed toll free at (855) 859-2056 or internationally (toll) at (404) 537-3406 using the Conference ID: 4628248, and will be available through August 9, 2018.

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About Universal Insurance Holdings, Inc.

Universal Insurance Holdings, Inc., with its wholly-owned subsidiaries, is a vertically integrated insurance holding company performing all aspects of insurance underwriting, distribution and claims. Universal Property & Casualty Insurance Company (UPCIC), a wholly-owned subsidiary of the Company, is one of the leading writers of homeowners insurance in Florida and is now fully licensed and has commenced its operations in North Carolina, South Carolina, Hawaii, Georgia, Massachusetts, Maryland, Delaware, Indiana, Pennsylvania, Minnesota, Michigan, Alabama, Virginia, New Jersey, New York, and New Hampshire. American Platinum Property and Casualty Insurance Company (APPCIC), also a wholly-owned subsidiary, currently writes homeowners multi-peril insurance on Florida homes valued in excess of $1 million, which are limits and coverages currently not targeted through its affiliate UPCIC. APPCIC is additionally licensed and has commenced writing Fire, Commercial Multi-Peril, and Other Liability lines of business in Florida. For additional information on the Company, please visit our investor relations website at www.universalinsuranceholdings.com.

Forward-Looking Statements and Risk Factors

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,” 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. Future results could differ materially from those described, and the Company undertakes no obligation to correct or update any forward-looking statements. 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 Form 10-K for the year ended December 31, 2017 and Form 10-Q for the quarter ended March 31, 2018.

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UNIVERSAL INSURANCE HOLDINGS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(in thousands, except per share data)

Notes:

1 - Cumulative convertible preferred stock ($0.01 par value): Authorized - 1,000 shares; Issued - 10 and 10 shares; Outstanding - 10 and 10 shares; Minimum liquidation preference - $9.99 and $9.99 per share.

2 - Common stock ($0.01 par value): Authorized - 55,000 shares; Issued - 46,257 and 45,778 shares; Outstanding 34,872 and 34,735 shares.

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UNIVERSAL INSURANCE HOLDINGS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

(in thousands)

UNIVERSAL INSURANCE HOLDINGS, INC. AND SUBSIDIARIES

SHARE AND PER SHARE INFORMATION

(in thousands, except per share data)

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UNIVERSAL INSURANCE HOLDINGS, INC. AND SUBSIDIARIES

SUPPLEMENTARY INFORMATION

(in thousands, except Policies In-Force)

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