Universal Insurance Holdings, Inc.’s Chairman and CEO Sean P. Downes has taken on the role as executive chairman, beginning July 15. The Universal Insurance Holdings Board has appointed current Chief Operating Officer Stephen J. Donaghy as the new chief executive officer.
Downes’ has been an executive with the company for the last 20 years and served as chairman and CEO for the past six years.
Donaghy been a member of the Universal management team for the past 13 years. He has been the company’s chief operating officer since March 2016. He served as the chief marketing officer from January 2015 to March 2016, as chief administrative officer from February 2013 to June 2015, as chief information officer from 2009 to February 2015 and as executive vice president since 2006.
Before joining Universal, Donaghy held various executive positions at JM Family Enterprises, a privately held company, including vice president of Strategic Initiatives, vice president of Sales and Marketing and senior information officer.
Universal Insurance Holdings, Inc. (UVE) is a holding company offering property and casualty insurance and value-added insurance services headquartered in Fort Lauderdale, Fla. It develops, markets, and writes insurance products for consumers predominantly in the personal residential homeowners lines of business and performs substantially all other insurance-related services for its primary insurance entities, including risk management, claims management and distribution. Insurance products are sold through both appointed independent agents and through Universal’s direct online distribution channels in the United States across 18 states (primarily Florida).
Topics Florida
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