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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, Inc. (NYSE: HCI) will participate in the BofA Securities 2021 InsurTech Conference on June 30, 2021. The event will feature a fireside chat with Chairman Paresh Patel and TypTap Insurance Company President Kevin Mitchell, moderated by BofA analyst Joshua Shanker at 8:00 a.m. ET. Additionally, management will conduct one-on-one meetings with institutional investors throughout the day. HCI Group operates TypTap Insurance Company, which specializes in homeowners and flood insurance and is expanding its services nationwide.
TypTap Insurance Group, a subsidiary of HCI Group, Inc. (NYSE: HCI), has received regulatory approval to offer homeowners insurance in Massachusetts. This marks a crucial step in TypTap's strategy to expand nationwide, following its approvals in 13 states outside Florida since August 2020. Founded in 2016, TypTap focuses on utilizing technology and data analytics to improve the insurance experience, offering homeowners and flood insurance primarily in Florida. This growth underscores HCI Group's commitment to leveraging technology for enhanced insurance services.
HCI Group, Inc. (NYSE:HCI) reported Q1 2021 financial results showing a net income of $6.1 million ($0.75 EPS), up from $0.5 million ($0.07 EPS) in Q1 2020. Adjusted net income reached $6.4 million ($0.77 EPS), a rise from $4.2 million ($0.54 EPS). Gross written premiums surged 64.4% to $125.8 million, while gross premiums earned increased 41.8% to $130.9 million. However, losses and loss adjustment expenses rose to $45.8 million, reflecting growth in premiums earned. The effective tax rate increased to 32.2% from 16.7% year-over-year.
HCI Group, Inc. (NYSE:HCI), an InsurTech company, has announced a quarterly cash dividend of 40 cents per share for Q2 2021. This dividend will be paid on June 18, 2021, to shareholders of record by May 21, 2021. HCI Group operates in insurance and real estate sectors, with TypTap Insurance Company as a key subsidiary providing homeowners' and flood insurance in Florida. The company is part of the Russell 2000 and S&P SmallCap 600 Index.
TypTap Insurance Group, a technology-driven insurance company and subsidiary of HCI Group, has received regulatory approval to offer homeowners insurance in Connecticut. This approval is part of TypTap’s nationwide expansion strategy, following its prior authorizations in 12 states outside Florida. Founded in 2016, TypTap utilizes advanced technology and data analytics to simplify insurance processes, enhancing efficiency and profitability.
HCI Group, Inc. (NYSE:HCI), an InsurTech firm, will hold a conference call on May 6, 2021, at 4:45 p.m. ET to discuss its Q1 2021 financial results, which will be released later that day. Interested parties can join via phone or online webcast. HCI operates in insurance, software development, and real estate, with its subsidiaries including TypTap Insurance Company and Homeowners Choice Property & Casualty Insurance Company. HCI's common shares are listed on the NYSE and included in the Russell 2000 and S&P SmallCap 600 Index.
HCI Group, Inc. (NYSE:HCI) reported a Q4 2020 net income of $2.7 million ($0.35 EPS), down from $6.4 million ($0.82 EPS) in Q4 2019. Adjusted net income fell to $1.8 million ($0.22 EPS) from $5.9 million ($0.76 EPS). Gross written premiums surged by 109.2% to $139.3 million, chiefly due to Homeowners Choice and TypTap Insurance. However, losses increased to $40.4 million from $28.9 million in 2019, influenced by Tropical Storm Eta. The full year's net income rose to $27.6 million ($3.49 EPS) from $26.6 million ($3.31 EPS) in 2019.
HCI Group, Inc. (NYSE: HCI) will conduct its Annual Meeting of Shareholders on June 3, 2021, at 3 PM Eastern time in Tampa, Florida. Shareholders of record as of April 13, 2021, are eligible to vote and attend the meeting.
HCI Group operates within InsurTech, focusing on insurance, software development, and real estate. Their main insurance subsidiary, TypTap Insurance Company, is rapidly expanding nationwide, while Homeowners Choice Property & Casualty Insurance Company primarily serves the Florida market. The company is also part of the Russell 2000 and S&P SmallCap 600 Index.
HCI Group, through its subsidiary TypTap Insurance Group, has secured a $100 million investment from Centerbridge Partners, equating to about 11.75% of TypTap and valuing it at $850 million.
TypTap aims to expand its technology-driven insurance services across the U.S., having achieved regulatory approval in ten new states. The investment grants Centerbridge preferred shares and a four-year warrant for 750,000 HCI shares at $54.40 each. A conference call to discuss the transaction is scheduled for March 1, 2021.
HCI Group, Inc. (NYSE:HCI), an InsurTech company, announced a conference call scheduled for March 11, 2021, at 4:45 p.m. ET, to discuss its fourth quarter and full year results for 2020. The financial results will be released after market close on the same day. Interested listeners can join via a toll-free number or through a webcast on HCI's website. HCI operates in insurance, software development, and real estate, with its primary insurance operation, TypTap Insurance, focusing on homeowners and flood insurance offerings.
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