Welcome to our dedicated page for Hci Group news (Ticker: HCI), a resource for investors and traders seeking the latest updates and insights on Hci Group stock.
HCI Group, Inc. (NYSE: HCI) is a holding company in the direct property and casualty insurance industry with operations in insurance, captive reinsurance, reciprocal exchanges, real estate and insurance technology through its majority-owned subsidiary, Exzeo Group, Inc. This news page aggregates company-issued updates and market coverage related to HCI’s financial performance, strategic initiatives and capital markets activity.
Readers following HCI news can expect regular earnings announcements detailing pre-tax income, net income, diluted earnings per share, gross premiums earned, premiums ceded for reinsurance, loss ratios and book value per share. HCI frequently accompanies these results with commentary from management and schedules conference calls and webcasts, which are announced through press releases and supported by corresponding Form 8-K filings.
News flow for HCI also includes disclosures about its catastrophe reinsurance programs, such as the completion of multi-tower reinsurance arrangements for specific treaty years and the role of its captive reinsurance subsidiary, Claddaugh Casualty Insurance Company Ltd. In addition, the company issues updates on quarterly cash dividend declarations on its common shares and compensation-related decisions for executives and non-employee directors.
A significant portion of recent HCI news relates to Exzeo Group, Inc., the insurance technology unit that uses advanced underwriting algorithms and data analytics. Items include the public filing and amendment of Exzeo’s registration statement on Form S-1, the launch of its initial public offering, preliminary financial estimates, and its listing on the New York Stock Exchange under the ticker symbol “XZO.”
Investors and analysts can use this page to review historical and ongoing developments affecting HCI’s insurance operations, reinsurance strategy, dividend practices and Exzeo-related transactions. Returning to this feed provides a consolidated view of official announcements and regulatory disclosures that shape the narrative around HCI’s stock and its evolving business mix.
HCI Group, Inc. (NYSE: HCI) announced a renewal rights agreement with United Insurance Holding Corp. (NASDAQ: UIHC) on January 18, 2021, for the transition of personal lines insurance business in Connecticut, New Jersey, Massachusetts, and Rhode Island. This strategic move aims to enhance HCI's national expansion plans by acquiring an established book of business and agent network. HCI operates in the insurance and real estate sectors, with a focus on technology-driven solutions through its subsidiaries.
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.
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