HCI Group Reports Second Quarter 2026 Results
Rhea-AI Summary
HCI Group (NYSE:HCI) reported second quarter 2026 pre-tax income of $111 million and net income of $83 million, up from $94 million and $70 million a year earlier. Net income after noncontrolling interests was $74 million and diluted EPS rose to $5.60 from $5.18.
Gross premiums earned increased 6% year over year to $321 million, driven by more policies in force, while the gross loss ratio was 22.2%. For the first half of 2026, pre-tax income was $226 million, net income $168 million and diluted EPS $11.05. Book value per share at June 30, 2026 was $86.60 versus $58.55 a year earlier.
The company completed an $80 million share repurchase program, buying 504,330 shares, including 363,538 shares for $57.0 million in Q2. Net investment income rose to $19 million in Q2 and $36 million year-to-date, and other revenue increased mainly from additional Exzeo platform customers.
Positive
- Q2 2026 pre-tax income $111M vs. $94M in Q2 2025
- Q2 2026 diluted EPS $5.60 vs. $5.18 in Q2 2025
- Gross premiums earned up 6% YoY to $321M in Q2 2026
- H1 2026 diluted EPS $11.05 vs. $10.57 in H1 2025
- Book value per share $86.60 at June 30, 2026 vs. $58.55
- Share repurchases $80M for 504,330 shares completed July 17, 2026
Negative
- Gross loss ratio 22.2% in Q2 2026 vs. 21.3% in Q2 2025
- G&A personnel expenses $24M in Q2 2026 vs. $20M in Q2 2025
- Cash and cash equivalents $872M at June 30, 2026 vs. $1.21B at December 31, 2025
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jul 14 | Earnings call scheduling | Neutral | -3.2% | Scheduled second-quarter results call and announced after-market-close financial results release. |
| May 06 | 1Q26 earnings results | Positive | -0.7% | Reported first-quarter income, EPS, premiums, loss ratio, and share repurchases. |
| Apr 14 | Earnings call scheduling | Neutral | +0.3% | Scheduled first-quarter earnings call and identified the reporting period under review. |
| Feb 25 | 4Q25 earnings results | Positive | +4.1% | Reported full-year and fourth-quarter income, EPS, premiums, and loss ratio. |
| Feb 04 | Earnings call scheduling | Neutral | +2.7% | Scheduled fourth-quarter and full-year results call with reporting-period details. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Tag-specific earnings events produced three aligned positive reactions and two divergent negative reactions, with an average move of 0.65%.
Key Terms
noncontrolling interests financial
catastrophe reinsurance programs financial
gross loss and loss adjustment expense ratio financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Second Quarter Pre-Tax Income of
Diluted EPS of
Gross Loss Ratio of
TAMPA, Fla., Aug. 06, 2026 (GLOBE NEWSWIRE) -- HCI Group, Inc. (NYSE:HCI), reported pre-tax income of
Management Commentary
“HCI Group capped a strong start to the year delivering record second quarter financial results for the first half of 2026,” said HCI Group Chairman and Chief Executive Officer Paresh Patel. “Our focus continues to be on achieving exceptional performance in all types of operating environments.”
Second Quarter 2026 Results
Gross premiums earned in the second quarter of 2026 were
Premiums ceded for reinsurance in the second quarter of 2026 were
Net investment income in the second quarter of 2026 was
Other revenue in the second quarter of 2026 was
Losses and loss adjustment expenses in the second quarter of 2026 were
Policy acquisition and other underwriting expenses in the second quarter of 2026 were
General and administrative personnel expenses in the second quarter of 2026 were
Six Months Ended June 30, 2026 Results
For the six months ended June 30, 2026, HCI Group reported pre-tax income of
Gross premiums earned for the six months ended June 30, 2026 were
Premiums ceded for reinsurance for the six months ended June 30, 2026 were
Net investment income for the six months ended June 30, 2026 was
Other revenue for the six months ended June 30, 2026 was
Losses and loss adjustment expenses for the six months ended June 30, 2026 were
Policy acquisition and other underwriting expenses for the six months ended June 30, 2026 were
General and administrative personnel expenses for the six months ended June 30, 2026 were
Share Repurchase
On March 3, 2026, HCI Group announced a share repurchase program to repurchase up to
Conference Call
HCI Group will hold a conference call later today, August 6, 2026, to discuss these financial results. Chairman and Chief Executive Officer Paresh Patel, Chief Operating Officer Karin Coleman and Chief Financial Officer Mark Harmsworth will host the call starting at 4:45 p.m. Eastern Time.
Interested parties can listen to the live presentation by dialing the listen-only number below or by clicking the webcast link available on the Investor Information section of the company's website at www.hcigroup.com.
Toll-free number: (888) 506-0062
International number: (973) 528-0011
Entry Code: 202996
Webcast
Please call the conference telephone number 10 minutes before the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gateway Group at (949) 574-3860.
A replay of the call will be available after 8:00 p.m. Eastern Time on the same day through August 20, 2026 and a replay of the webcast will be available on the Investor Relations section of the HCI Group website at www.hcigroup.com through August 6, 2027.
Toll-free replay number: (877) 481-4010
International replay number: (919) 882-2331
Replay ID: 54257
About HCI Group, Inc.
HCI Group, Inc. is a diversified holding company engaged in insurance, reinsurance, real estate, claims services, and insurance technology. The HCI Group portfolio of companies includes multiple property and casualty underwriters and exchanges, two captive reinsurers, a claims management business, a commercial real estate investment company and a leading insurance technology company, Exzeo Group. HCI Group was founded in 2006 and operates in 13 states.
HCI Group's common shares trade 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. regularly publishes financial and other information in the Investor Information section of the company’s website. For more information about HCI Group and its subsidiaries, visit www.hcigroup.com. Exzeo’s common shares trade on the New York Stock Exchange under the ticker symbol “XZO.” For more information about Exzeo, visit www.exzeo.com.
Forward-Looking Statements
This news release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "estimate," "expect," "intend," "plan," "confident," "prospects" and "project" and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions, but rather are subject to various risks and uncertainties. For example, the estimation of reserves for losses and loss adjustment expenses is an inherently imprecise process involving many assumptions and considerable management judgment. Further, future cash flow and earnings may limit HCI’s ability or willingness to engage in share buybacks. Some of these risks and uncertainties are identified in the company's filings with the Securities and Exchange Commission. Should any risks or uncertainties develop into actual events, these developments could have material adverse effects on the company's business, financial condition and results of operations. HCI Group, Inc. disclaims all obligations to update any forward-looking statements.
Company Contact:
Nat Otis
Investor Relations
HCI Group, Inc.
Tel (813) 355-5341
notis@hcigroup.com
Investor Relations Contact:
Matt Glover
Gateway Group, Inc.
Tel (949) 574-3860
HCI@gateway-grp.com
| HCI GROUP, INC. AND SUBSIDIARIES Selected Financial Metrics (Unaudited) (In thousands, except share and per share amounts) | ||||||||
| Three Months Ended | ||||||||
| June 30, | ||||||||
| 2026 | 2025 | |||||||
| Gross Written Premiums: | ||||||||
| Homeowners Choice | $ | 228,208 | $ | 227,090 | ||||
| TypTap Insurance Company | 110,477 | 110,412 | ||||||
| Condo Owners Reciprocal Exchange | 10,848 | 13,830 | ||||||
| Tailrow Reciprocal Exchange | 32,812 | 5,213 | ||||||
| Total Gross Written Premiums | $ | 382,345 | $ | 356,545 | ||||
| Gross Premiums Earned: | ||||||||
| Homeowners Choice | $ | 161,927 | $ | 156,552 | ||||
| TypTap Insurance Company | 123,279 | 124,437 | ||||||
| Condo Owners Reciprocal Exchange | 5,925 | 12,811 | ||||||
| Tailrow Insurance Exchange | 29,693 | 8,828 | ||||||
| Total Gross Premiums Earned | $ | 320,824 | $ | 302,628 | ||||
| Gross loss and loss adjustment expense ratio | 22.2 | % | 21.3 | % | ||||
| Per Share Metrics | ||||||||
| Diluted earnings per share | $ | 5.60 | $ | 5.18 | ||||
| Dividends per share | $ | 0.40 | $ | 0.40 | ||||
| Book value per share at the end of period | $ | 86.60 | $ | 58.55 | ||||
| Shares outstanding at the end of period | 12,469,972 | 12,956,884 | ||||||
| HCI GROUP, INC. AND SUBSIDIARIES Consolidated Balance Sheets (In thousands, except share amounts) | |||||||
| June 30, 2026 | December 31, 2025 | ||||||
| (Unaudited) | |||||||
| Assets | |||||||
| Fixed-maturity securities, available-for-sale, at fair value (amortized cost: | $ | 1,091,041 | $ | 597,329 | |||
| Equity securities, at fair value (cost: | 59,038 | 65,890 | |||||
| Limited partnership investments | 16,394 | 17,690 | |||||
| Real estate investments | 102,669 | 103,746 | |||||
| Other investments | 5,000 | 5,000 | |||||
| Total investments | 1,274,142 | 789,655 | |||||
| Cash and cash equivalents | 872,336 | 1,210,126 | |||||
| Restricted cash | 4,378 | 3,748 | |||||
| Income taxes receivable | 1,277 | 1,332 | |||||
| Deferred income tax assets, net | 1,088 | 2,237 | |||||
| Premiums receivable, net (allowance: | 77,607 | 57,494 | |||||
| Prepaid reinsurance premiums | — | 50,127 | |||||
| Reinsurance recoverable, net of allowance for credit losses: | |||||||
| Paid losses and loss adjustment expenses (allowance: | 26,613 | 27,855 | |||||
| Unpaid losses and loss adjustment expenses (allowance: | 229,131 | 262,041 | |||||
| Deferred policy acquisition costs | 68,206 | 59,722 | |||||
| Property and equipment, net | 27,503 | 28,939 | |||||
| Intangible assets, net | 1,924 | 2,683 | |||||
| Funds withheld for assumed business | 5,346 | 5,254 | |||||
| Other assets | 58,908 | 27,715 | |||||
| Total assets | $ | 2,648,459 | $ | 2,528,928 | |||
| Liabilities, Redeemable Noncontrolling Interests and Equity | |||||||
| Losses and loss adjustment expenses | $ | 558,982 | $ | 576,495 | |||
| Unearned premiums | 659,335 | 643,328 | |||||
| Advance premiums | 44,440 | 19,302 | |||||
| Ceded reinsurance premiums payable | 34,772 | 27,591 | |||||
| Assumed premiums payable | 4,049 | 1,744 | |||||
| Income taxes payable | 16,467 | 12,782 | |||||
| Deferred income tax liabilities, net | 1,001 | 3,814 | |||||
| Revolving credit facility | 36,000 | 36,000 | |||||
| Long-term debt | 31,465 | 31,877 | |||||
| Accrued expenses and other liabilities | 82,887 | 61,351 | |||||
| Total liabilities | 1,469,398 | 1,414,284 | |||||
| Commitments and contingencies | |||||||
| Redeemable noncontrolling interests | 5,929 | 3,359 | |||||
| Equity: | |||||||
| Common stock, (no par value, 40,000,000 shares authorized, 12,469,972 and 12,992,147 shares issued and outstanding, respectively) | — | — | |||||
| Additional paid-in capital | 340,854 | 428,109 | |||||
| Retained earnings | 748,437 | 611,509 | |||||
| Accumulated other comprehensive (loss) income | (9,382 | ) | 1,459 | ||||
| Total stockholders' equity | 1,079,909 | 1,041,077 | |||||
| Noncontrolling interests | 93,223 | 70,208 | |||||
| Total equity | 1,173,132 | 1,111,285 | |||||
| Total liabilities, redeemable noncontrolling interests and equity | $ | 2,648,459 | $ | 2,528,928 | |||
| HCI GROUP, INC. AND SUBSIDIARIES Consolidated Statements of Income (Unaudited) (In thousands, except per share amounts) | ||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||
| June 30, | June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Revenue | ||||||||||||||||
| Gross premiums earned | $ | 320,824 | $ | 302,628 | $ | 647,030 | $ | 603,011 | ||||||||
| Premiums ceded | (101,812 | ) | (102,522 | ) | (205,867 | ) | (202,157 | ) | ||||||||
| Net premiums earned | 219,012 | 200,106 | 441,163 | 400,854 | ||||||||||||
| Net investment income | 18,890 | 16,445 | 36,191 | 30,196 | ||||||||||||
| Net realized investment gains | 1,222 | 155 | 1,756 | 1,322 | ||||||||||||
| Net unrealized investment gains (losses) | 743 | 1,180 | (955 | ) | (726 | ) | ||||||||||
| Policy fee income | 1,651 | 1,467 | 3,227 | 3,696 | ||||||||||||
| Other | 5,135 | 2,567 | 8,153 | 3,011 | ||||||||||||
| Total revenue | 246,653 | 221,920 | 489,535 | 438,353 | ||||||||||||
| Expenses | ||||||||||||||||
| Losses and loss adjustment expenses | 71,076 | 64,457 | 136,676 | 123,748 | ||||||||||||
| Policy acquisition and other underwriting expenses | 32,346 | 30,551 | 64,116 | 57,838 | ||||||||||||
| General and administrative personnel expenses | 23,948 | 19,985 | 46,301 | 40,468 | ||||||||||||
| Interest expense | 1,084 | 3,744 | 2,007 | 7,128 | ||||||||||||
| Other operating expenses | 7,226 | 8,791 | 14,078 | 14,440 | ||||||||||||
| Total expenses | 135,680 | 127,528 | 263,178 | 243,622 | ||||||||||||
| Income before income taxes | 110,973 | 94,392 | 226,357 | 194,731 | ||||||||||||
| Income tax expense | 28,073 | 24,113 | 58,414 | 50,222 | ||||||||||||
| Net income | $ | 82,900 | $ | 70,279 | $ | 167,943 | $ | 144,509 | ||||||||
| Net income attributable to noncontrolling interests | (9,103 | ) | (4,119 | ) | (20,739 | ) | (8,665 | ) | ||||||||
| Net income after noncontrolling interests | $ | 73,797 | $ | 66,160 | $ | 147,204 | $ | 135,844 | ||||||||
| Basic earnings per share | $ | 5.78 | $ | 5.57 | $ | 11.39 | $ | 12.00 | ||||||||
| Diluted earnings per share | $ | 5.60 | $ | 5.18 | $ | 11.05 | $ | 10.57 | ||||||||
| Dividends per share | $ | 0.40 | $ | 0.40 | $ | 0.80 | $ | 0.80 | ||||||||
HCI GROUP, INC. AND SUBSIDIARIES
Earnings Per Share
(Unaudited)
(In thousands, except per share amounts)
The computations of basic and diluted earnings per share for the periods presented were as follows:
| Three Months Ended | Six Months Ended | ||||||||||||||||||||||
| June 30, 2026 | June 30, 2026 | ||||||||||||||||||||||
| Income | Shares | Per Share | Income | Shares | Per Share | ||||||||||||||||||
| (Numerator) | (Denominator) | Amount | (Numerator) | (Denominator) | Amount | ||||||||||||||||||
| Net income | $ | 82,900 | $ | 167,943 | |||||||||||||||||||
| Less: Net income attributable to noncontrolling interests | (9,103 | ) | (20,739 | ) | |||||||||||||||||||
| Net income after noncontrolling interests | 73,797 | 147,204 | |||||||||||||||||||||
| Less: Income attributable to participating securities | (2,925 | ) | (6,186 | ) | |||||||||||||||||||
| Basic Earnings Per Share: | |||||||||||||||||||||||
| Income attributable to common stockholders | 70,872 | 12,269 | $ | 5.78 | 141,018 | 12,379 | $ | 11.39 | |||||||||||||||
| Effect of Dilutive Securities: | |||||||||||||||||||||||
| Stock options | — | 382 | — | 390 | |||||||||||||||||||
| Warrants | — | 7 | — | 7 | |||||||||||||||||||
| Net impact from reallocation of undistributed earnings to participating securities | 65 | — | 143 | — | |||||||||||||||||||
| Diluted Earnings Per Share: | |||||||||||||||||||||||
| Income attributable to common stockholders | $ | 70,937 | 12,658 | $ | 5.60 | $ | 141,161 | 12,776 | $ | 11.05 | |||||||||||||
