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HCI Group, Inc. (NYSE: HCI) is a diversified holding company headquartered in Tampa, Florida. Founded in 2006, the company operates across several sectors, including property and casualty insurance, real estate, reinsurance, and information technology. HCI Group’s primary insurance subsidiaries, Homeowners Choice Property & Casualty Insurance Company (HCPCI) and TypTap Insurance Company, specialize in homeowners insurance, flood insurance, and wind-only insurance within Florida and other states.
Through its real estate subsidiary, Greenleaf Capital, LLC, HCI manages a portfolio of properties that include office buildings, retail centers, marinas, and vacant shopping centers for investment purposes. The company also owns and operates a full-service restaurant, enhancing its real estate footprint.
HCI’s technological edge is bolstered by its subsidiary, Exzeo USA, Inc., which develops web-based applications like SAMS and ClaimColony. These tools streamline insurance processes and enhance the company's operational efficiency.
Recently, HCI has taken significant steps to fortify its financial standing. By converting debts and simplifying its balance sheet, HCI has reduced its debt-to-capital ratio and enhanced liquidity, enabling the company to pursue future business opportunities.
One of HCI Group’s noteworthy achievements is the growth of TypTap Insurance Company, a technology-driven insurance provider. TypTap leverages data and technology to streamline underwriting and claims processes, setting a precedent in the insurance industry. This innovation is supported by robust reinsurance programs that the company secures annually, ensuring financial stability and risk management.
Financially, HCI has demonstrated strong performance. For instance, in the first quarter of 2024, HCI reported a net income of $57.0 million, a significant increase from the previous year’s $17.8 million. This growth is attributed to increased gross premiums and reduced reinsurance costs as a percentage of premiums earned.
The company’s common shares are traded on the New York Stock Exchange under the ticker symbol “HCI” and are included in the Russell 2000 and S&P SmallCap 600 Index. HCI Group, Inc. continues to publish financial data and other updates in the Investor Information section of its website.
For more details about HCI Group, Inc. and its subsidiaries, visit www.hcigroup.com.
HCI Group (NYSE: HCI) has announced its board of directors has declared a quarterly cash dividend of $0.40 per common share. The dividend will be paid on March 21, 2025, to shareholders of record as of the close of business on February 21, 2025. HCI Group operates in multiple sectors, including homeowners insurance, information technology services, real estate, and reinsurance.
HCI Group (NYSE: HCI) has scheduled its fourth quarter and full year 2024 earnings conference call for Thursday, February 27, 2025, at 4:45 p.m. Eastern time. The company, which operates in homeowners insurance, information technology services, real estate, and reinsurance, will release its financial results after market close on the same day.
The presentation will be hosted by HCI management and include a question-and-answer session. Investors can join via phone using the toll-free number 888-506-0062 (international: 973-528-0011) with participant code 835158, or through the webcast link available on HCI's website. A replay will be accessible after 8:00 p.m. Eastern time using toll-free number 877-481-4010 (international: 919-882-2331) with passcode 51955.
HCI Group announced that its 4.75% Convertible Senior Notes Due 2042 became convertible by all Holders starting January 1, 2025, through March 31, 2025. This conversion opportunity was triggered because HCI's share price exceeded 130% of the Conversion Price of $80.54 during the final trading days of Q4 2024.
Holders can convert their Notes into HCI common stock at a ratio of approximately 12.4166 shares per $1,000 principal amount. For conversions before March 31, 2025, HCI plans to implement Physical Settlement, delivering only common stock. The company is also considering a full redemption of the Notes on June 5, 2025, if conditions are met, which require the stock price to maintain at least 130% above the Conversion Price for 20 trading days within any 30-day trading period.
HCI Group reported Q3 2024 financial results with pre-tax income of $14.1 million and net income of $9.4 million. Despite Hurricanes Debby and Helene, consolidated gross premiums earned increased to $265.5 million from $188.3 million year-over-year. Net income after noncontrolling interests was $5.7 million ($0.52 EPS) compared to $13.2 million ($1.34 EPS) in Q3 2023. The company assumed approximately 42,000 policies from Citizens in October. Losses from Hurricane Helene totaled $40.0 million and Hurricane Debby $6.5 million.
HCI Group (NYSE: HCI) has announced its board of directors has declared a quarterly cash dividend of $0.40 per common share. The dividend will be paid on December 20, 2024 to shareholders of record as of November 15, 2024. HCI Group operates in homeowners insurance, information technology services, real estate, and reinsurance sectors.
HCI Group has announced its third quarter 2024 earnings call, scheduled for Thursday, November 7, 2024, at 4:45 p.m. Eastern time. The company, which operates in homeowners insurance, IT services, real estate, and reinsurance, will release its financial results for the quarter ended September 30, 2024, after market close on the same day.
Interested parties can join the call via phone or webcast. The toll-free number is 888-506-0062 (international: 973-528-0011) with participant access code 821320. A replay will be available after 8:00 p.m. ET on the same day, accessible by phone (toll-free: 877-481-4010, international: 919-882-2331, passcode: 51444) or through HCI Group's website.
HCI Group, Inc. (NYSE: HCI) has provided an update on the estimated losses from Hurricanes Debby, Helene, and Milton. The company expects to pay $600 to $750 million to policyholders across all three events. For Q3 2024, net retained losses from Hurricanes Debby and Helene are expected to result in a net expense of approximately $60 million, with the company still anticipating a pre-tax profit for the quarter. In Q4 2024, Hurricane Milton is expected to cause a net expense of approximately $125 million.
Despite these losses, HCI Group remains financially stable due to its strong balance sheet, conservative reinsurance program with over $2 billion of occurrence reinsurance limit and over $3 billion of aggregate reinsurance limit, and overall profitability. The company is continuing its participation in Citizens' Depopulation Program in Q4, with early indications showing a strong adoption rate.
HCI Group reported strong Q2 2024 results with pre-tax income of $76 million and net income of $57.1 million. Diluted earnings per share reached $4.24, up from $1.28 in Q2 2023. The company's performance was driven by solid underwriting execution and technology advantages. Key highlights include:
- Gross premiums earned increased to $263.6 million from $181.9 million in Q2 2023
- Gross loss ratio improved to 29.7% from 34.0% in Q2 2023
- Net investment income rose to $16.9 million from $8.8 million in Q2 2023
HCI Group's growth was primarily attributed to expansion in Florida and the assumption of policies from Citizens. The company's CEO, Paresh Patel, emphasized the power of their technology and plans to explore new opportunities in future periods.
HCI Group (NYSE: HCI) announced it will host a conference call on August 8, 2024, at 4:45 p.m. ET to discuss its Q2 2024 financial results, ending June 30, 2024. The company operates in homeowners insurance, IT services, real estate, and reinsurance. Financial results will be released the same day after market close. The presentation will be followed by a Q&A session. Participants can join via a listen-only phone number or webcast on the company's website. A replay will be available after 8:00 p.m. ET on the same day.
The board of directors of HCI Group (NYSE: HCI) has announced a regular quarterly cash dividend of 40 cents per common share. The dividend will be paid on September 20, 2024, to shareholders who are recorded as of the close of business on August 16, 2024. HCI Group operates in homeowners insurance, information technology services, real estate, and reinsurance sectors.
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