Ft. Lauderdale, Fla.-based Universal Insurance Holdings Inc. said it is seeking to open a second property-casualty subsidiary in Florida after filing an application with the state's Office of Insurance Regulation.

The new operation, to be named Infinity Property & Casualty Insurance Company, would be a wholly owned subsidiary of Universal Insurance Holdings.

Universal said the company intends to write homeowners multiperil and inland marine coverage on homes valued in excess of $1 million.

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