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Insurance stocks are rallying as Hurricane Matthew bears down on Florida (FNHC, UIHC, UVE, HRTG)

Shares of insurance companies that are exposed to Florida are rallying on Friday, as Hurricane Matthew has yet to make landfall. The stocks are declines on Thursday that happened as the storm headed towards the southeastern United States coast from the Caribbean. Shares of United Insurance Holdings gained 10%, Federated National Holding rose 8%, and Universal Insurance Holdings climbed 17% in mid-morning trading in New York.
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