Hci Group Stock Price, News & Analysis

TypTap Insurance Company, a technology-driven insurance company wholly owned by HCI Group, Inc. (NYSE: HCI), has received regulatory approval to sell homeowners insurance in Michigan. This marks a significant step in TypTap’s expansion strategy, which was unveiled in August 2020, and follows prior approvals in eight states outside of Florida. HCI Group operates in insurance, software development, and real estate, with TypTap providing homeowners and flood insurance primarily in Florida. HCI is publicly traded under the ticker "HCI" and included in the Russell 2000 and S&P SmallCap 600 Index.

The board of directors of HCI Group (NYSE:HCI) has declared a regular quarterly cash dividend of 40 cents per common share for Q1 2021. This dividend is payable on March 19, 2021 to shareholders on record as of February 19, 2021.

HCI Group operates in insurance, software development, and real estate, with its main subsidiary TypTap Insurance Company providing homeowners and flood insurance in Florida.

TypTap Insurance Company, a tech-driven insurance firm owned by HCI Group, has received regulatory approval to offer homeowners insurance in Nevada. This approval aligns with TypTap's strategy for nationwide expansion, having already secured approvals in seven states beyond Florida. Currently, TypTap focuses on providing homeowners and flood insurance, leveraging technology developed by HCI’s subsidiary, Exzeo USA. The company's shares trade under the ticker symbol 'HCI' on the NYSE and are part of the Russell 2000 and S&P SmallCap 600 Index.

HCI Group (NYSE: HCI) has reached an agreement to acquire United Insurance's personal lines insurance business across Connecticut, New Jersey, Massachusetts, and Rhode Island, valued at approximately $130 million in annual premiums. Under the deal, HCI will provide 69.5% quota share reinsurance on in-force policies until May 31, 2021, while paying United $4.4 million for catastrophe reinsurance and a cash payment up to $3.1 million based on transitioned premiums. This move supports HCI's national expansion strategy and includes a non-compete clause for United until July 2024.

Tamapa, Fla., Dec. 16, 2020 - TypTap Insurance Company, owned by HCI Group (NYSE: HCI), has received regulatory approval to offer homeowners insurance in six states: Indiana, Mississippi, Montana, South Carolina, South Dakota, and Utah. This approval is part of TypTap's strategic nationwide expansion plan that was previously announced in August 2020. HCI Group operates in insurance, software development, and real estate, with TypTap primarily providing homeowners and flood insurance, especially in Florida.

TypTap Insurance Company, a subsidiary of HCI Group, reported that its annual recurring revenue has surpassed $100 million. The company, which specializes in homeowners and flood insurance primarily in Florida, employs proprietary technologies and data analytics for efficient underwriting and risk management.

TypTap’s growth aligns with the increasing acceptance of its products and technology platform, allowing it to achieve this milestone ahead of schedule, according to President Kevin Mitchell.

HCI Group, Inc. reported robust financial results for Q3 and the first nine months of 2020. Net income for Q3 reached $15.4 million or $1.70 per diluted share, up from $5.9 million in 2019. Adjusted net income was $14.4 million, a significant rise year-over-year. Consolidated gross written premiums surged 19.6% to $116.5 million. The company also noted a one-time gain of $37.0 million from the sale of headquarters. However, losses and loss adjustment expenses increased to $51.7 million, indicating challenges amidst growth.

HCI Group, Inc. (NYSE:HCI) has reported an initial estimate of $17.7 million in catastrophic losses for Q3 2020, primarily due to Hurricane Sally, which impacted its homeowners and flood insurance operations in Florida. The net after-tax impact is projected at approximately $12.5 million. Importantly, HCI's subsidiary, TypTap Insurance Company, reported no losses from this event. HCI Group continues to operate in insurance, software development, and real estate, maintaining its presence in the Russell 2000 and S&P SmallCap 600 Index.

HCI Group, Inc. (NYSE:HCI) has declared a quarterly cash dividend of 40 cents per common share for Q4 2020. This dividend will be paid on December 18, 2020, to shareholders recorded as of the close on November 20, 2020. HCI Group operates in InsurTech, focusing on insurance, software development, and real estate. Its major subsidiary, TypTap Insurance Group, offers homeowners and flood insurance mainly in Florida, leveraging technology for efficient policy management. The stock trades on the NYSE and is part of the Russell 2000 and S&P SmallCap 600 Index.