Hci Group Stock Price, News & Analysis

HCI Group, Inc. (NYSE:HCI), an InsurTech company, is set to hold a conference call on November 5, 2020, at 4:45 p.m. ET to discuss their third-quarter financial results for the period ending September 30, 2020. The results will be publicly available through a press release after market close on the same day. HCI Group operates in insurance, software development, and real estate, featuring subsidiaries like TypTap Insurance Company and Greenleaf Capital LLC, and is included in the Russell 2000 and S&P SmallCap 600 Index.

HCI Group, Inc. (NYSE:HCI) has appointed Gitanjali Clark and Bob Lopes to its Board Observer Program for the 2020-2021 year. This initiative, launched in 2018, aims to train individuals in public company board governance and enhance diversity on boards. Clark, a litigation attorney, and Lopes, an HR executive, will participate in board meetings and access all materials, though they lack voting rights. HCI, a leading InsurTech firm, operates TypTap Insurance Company and is engaged in software development and real estate across Florida.

HCI Group's subsidiary, TypTap Insurance Company, has initiated Phase One of a nationwide expansion to provide homeowners insurance in 20 new states. The states include Arkansas, Colorado, Georgia, and more. TypTap is currently seeking regulatory approval, with expectations for significant progress by early next year. The company has reported a remarkable 2,202% increase in premiums since 2019, reaching over $75 million in total premiums in-force, with projections to surpass $100 million by year-end.

TAMPA, Fla., Sept. 4, 2020 – HCI Group (NYSE:HCI), an InsurTech firm focused on insurance and software development, will present at the 9th Annual Gateway Conference on September 9 at 1:30 p.m. ET. The event, held virtually, allows for one-on-one meetings with management. The presentation will be webcast live and available for replay afterwards. HCI operates TypTap Insurance Company, providing homeowners’ and flood insurance primarily in Florida. Its shares are included in the Russell 2000 and S&P SmallCap 600 Index.

HCI Group, Inc. (NYSE:HCI) reported a net income of $8.9 million or $1.08 per diluted share for Q2 2020, an increase from $7.6 million or $0.90 per share in Q2 2019. Adjusted net income rose to $6.8 million from $6.6 million. Consolidated gross written premiums surged 28.9% to $171.9 million, driven by TypTap Insurance Company. However, net investment income fell to $1.6 million from $4.2 million, reflecting lower income from investments. For the six months ended June 30, 2020, net income was $9.5 million, down from $14.3 million in 2019.

TypTap Insurance Company, a Florida-based InsurTech, is seeking approval to expand its homeowners and flood insurance services nationwide. Since 2019, its homeowners insurance premiums in-force surged by 2,202%, exceeding $75 million. The company's president, Kevin Mitchell, aims to enhance TypTap's market reach from $11 billion in Florida to over $105 billion nationally, targeting $5 billion in revenue by 2030. Funded by HCI Group, TypTap leverages advanced technology for efficient policy management and risk mitigation.

HCI Group, Inc. (NYSE:HCI), an InsurTech firm, will hold a conference call on August 6, 2020, at 4:45 p.m. ET to discuss its Q2 2020 financial results. A press release will precede the call, detailing performance metrics for the second quarter ended June 30, 2020. The call will allow for a Q&A session and will be accessible via a toll-free number and online webcast. A replay will be available post-call until September 5, 2020. HCI operates through subsidiaries including TypTap Insurance Company and Homeowners Choice Property & Casualty Insurance Company, primarily serving the Florida market.

HCI Group, Inc. (NYSE: HCI) has announced an agreement with the Florida Department of Transportation for the sale of its headquarters property and a nearby right of way for $47.5 million. After transaction costs, Greenleaf Capital, HCI's real estate division, anticipates a net gain of approximately $44 million. The transaction, linked to a road improvement project, is expected to finalize by July 2020, with HCI retaining the option to occupy the property for up to three years. HCI CEO Paresh Patel expressed disappointment but acknowledged the project's significance for Tampa's transportation.

HCI Group (NYSE:HCI) reported its Q1 2020 financial results, revealing a net income of $0.5 million or $0.07 per share, down from $6.7 million or $0.82 per share in Q1 2019. Adjusted net income rose to $4.2 million or $0.54 per share, compared to $2.8 million or $0.35 in the prior year. Gross written premiums increased by 13.2% to $76.5 million, driven by TypTap Insurance's growth. However, the company faced $4.8 million in unrealized losses due to market downturns from COVID-19. The combined ratio improved to 88.8% from 100.3% in the same period last year.