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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.
The board of directors of HCI Group has declared a regular quarterly cash dividend of 40 cents per common share. This dividend will be payable on June 16, 2023, to shareholders of record at the close of business on May 19, 2023. HCI Group operates in various sectors including homeowners insurance, information technology, and real estate, with TypTap Insurance Company being a significant subsidiary. The company is listed on the NYSE under the ticker symbol HCI and is part of the Russell 2000 and S&P SmallCap 600 Index. HCI acknowledges potential risks affecting its financial stability and dividend payments, as detailed in its SEC filings.
HCI Group, Inc. (NYSE: HCI) will hold a conference call on May 9, 2023, at 4:45 p.m. Eastern time to discuss its financial results for the first quarter ended March 31, 2023. A press release will be issued the same day after market close. Participants can join the call by dialing the toll-free number 888-506-0062 or the international number 973-528-0011. An access code of 826822 is required. A replay will be available post-call via the toll-free number 877-481-4010. HCI operates in various sectors including homeowners insurance and information technology, with TypTap Insurance Company being its leading insurance arm.
HCI Group (NYSE:HCI) has announced its Annual Meeting of Shareholders will take place on June 8, 2023, at 3:00 p.m. Eastern time in Tampa, Florida. Shareholders recorded by April 12, 2023, can attend and vote. Key proposals include:
- Election of Class C Directors
- Ratification of external auditors
- Approval of executive officer compensation
HCI Group operates in homeowners insurance, IT services, real estate, and reinsurance, with subsidiaries like TypTap Insurance Company and Homeowners Choice Property & Casualty Insurance Company. The company’s shares are listed on the NYSE under the symbol HCI.
HCI Group, Inc. (NYSE:HCI) reported fourth quarter 2022 net income of $2.7 million, or $0.18 diluted earnings per share, a significant increase from $1.4 million, or $0.01 per share, a year prior. Adjusted net income rose to $1.6 million compared to an adjusted net loss of $0.1 million in Q4 2021. Gross premiums earned grew 16.6% to $183.0 million, while net investment income surged to $7.4 million. However, for the full year 2022, the company experienced a net loss of $54.6 million due to Hurricane Ian and increased expenses. The Florida Legislature's tort reforms are expected to enhance the homeowners insurance market.
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