Universal Insurance Holdings has applied to the State of Florida's Office of Insurance Regulation to form a second property and casualty subsidiary named Infinity Property & Casualty Insurance Company.
Infinity Property & Casualty, a wholly owned subsidiary of Universal Insurance Holdings, intends to write insurance in the state of Florida in the lines of homeowners’ multi-peril and inland marine on homes valued in excess of $1 million, which are limits and coverages currently not offered by its affiliate Universal Property & Casualty Insurance Company.
Additionally, Infinity Property & Casualty Insurance Company plans to write excess flood insurance on homes valued in excess of $250,000.
Bradley Meier, president and CEO of Universal Insurance Holdings, said: The formation of Infinity Property & Casualty Insurance Company and the application to the state of Florida is consistent with Universal’s strategy to capitalize on its expertise and expand its product offerings as it continues to seek additional growth opportunities.