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. (HCI) delivers innovative property insurance solutions, reinsurance strategies, and technology-driven services across residential and commercial markets. This news hub provides investors and industry stakeholders with timely updates on corporate developments, financial performance, and operational milestones.
Access authoritative reports on earnings announcements, regulatory filings, leadership updates, and strategic initiatives. Our curated collection includes press releases covering product launches, reinsurance program adjustments, real estate transactions, and technology innovations from HCI subsidiaries.
Key updates span quarterly financial results, catastrophe loss disclosures, underwriting platform enhancements, and market expansion efforts. The repository also features material events impacting HCI's diversified operations across insurance, reinsurance, and property management sectors.
Bookmark this page for streamlined access to HCI's official communications. Combine these primary sources with third-party analysis to inform your understanding of the company's risk management approaches and growth strategies in evolving insurance markets.
HCI Group announced that its 4.75% Convertible Senior Notes Due 2042 became convertible by all Holders starting January 1, 2025, through March 31, 2025. This conversion opportunity was triggered because HCI's share price exceeded 130% of the Conversion Price of $80.54 during the final trading days of Q4 2024.
Holders can convert their Notes into HCI common stock at a ratio of approximately 12.4166 shares per $1,000 principal amount. For conversions before March 31, 2025, HCI plans to implement Physical Settlement, delivering only common stock. The company is also considering a full redemption of the Notes on June 5, 2025, if conditions are met, which require the stock price to maintain at least 130% above the Conversion Price for 20 trading days within any 30-day trading period.
HCI Group reported Q3 2024 financial results with pre-tax income of $14.1 million and net income of $9.4 million. Despite Hurricanes Debby and Helene, consolidated gross premiums earned increased to $265.5 million from $188.3 million year-over-year. Net income after noncontrolling interests was $5.7 million ($0.52 EPS) compared to $13.2 million ($1.34 EPS) in Q3 2023. The company assumed approximately 42,000 policies from Citizens in October. Losses from Hurricane Helene totaled $40.0 million and Hurricane Debby $6.5 million.
HCI Group (NYSE: HCI) has announced its board of directors has declared a quarterly cash dividend of $0.40 per common share. The dividend will be paid on December 20, 2024 to shareholders of record as of November 15, 2024. HCI Group operates in homeowners insurance, information technology services, real estate, and reinsurance sectors.
HCI Group has announced its third quarter 2024 earnings call, scheduled for Thursday, November 7, 2024, at 4:45 p.m. Eastern time. The company, which operates in homeowners insurance, IT services, real estate, and reinsurance, will release its financial results for the quarter ended September 30, 2024, after market close on the same day.
Interested parties can join the call via phone or webcast. The toll-free number is 888-506-0062 (international: 973-528-0011) with participant access code 821320. A replay will be available after 8:00 p.m. ET on the same day, accessible by phone (toll-free: 877-481-4010, international: 919-882-2331, passcode: 51444) or through HCI Group's website.
HCI Group, Inc. (NYSE: HCI) has provided an update on the estimated losses from Hurricanes Debby, Helene, and Milton. The company expects to pay $600 to $750 million to policyholders across all three events. For Q3 2024, net retained losses from Hurricanes Debby and Helene are expected to result in a net expense of approximately $60 million, with the company still anticipating a pre-tax profit for the quarter. In Q4 2024, Hurricane Milton is expected to cause a net expense of approximately $125 million.
Despite these losses, HCI Group remains financially stable due to its strong balance sheet, conservative reinsurance program with over $2 billion of occurrence reinsurance limit and over $3 billion of aggregate reinsurance limit, and overall profitability. The company is continuing its participation in Citizens' Depopulation Program in Q4, with early indications showing a strong adoption rate.
HCI Group reported strong Q2 2024 results with pre-tax income of $76 million and net income of $57.1 million. Diluted earnings per share reached $4.24, up from $1.28 in Q2 2023. The company's performance was driven by solid underwriting execution and technology advantages. Key highlights include:
- Gross premiums earned increased to $263.6 million from $181.9 million in Q2 2023
- Gross loss ratio improved to 29.7% from 34.0% in Q2 2023
- Net investment income rose to $16.9 million from $8.8 million in Q2 2023
HCI Group's growth was primarily attributed to expansion in Florida and the assumption of policies from Citizens. The company's CEO, Paresh Patel, emphasized the power of their technology and plans to explore new opportunities in future periods.
HCI Group (NYSE: HCI) announced it will host a conference call on August 8, 2024, at 4:45 p.m. ET to discuss its Q2 2024 financial results, ending June 30, 2024. The company operates in homeowners insurance, IT services, real estate, and reinsurance. Financial results will be released the same day after market close. The presentation will be followed by a Q&A session. Participants can join via a listen-only phone number or webcast on the company's website. A replay will be available after 8:00 p.m. ET on the same day.
The board of directors of HCI Group (NYSE: HCI) has announced a regular quarterly cash dividend of 40 cents per common share. The dividend will be paid on September 20, 2024, to shareholders who are recorded as of the close of business on August 16, 2024. HCI Group operates in homeowners insurance, information technology services, real estate, and reinsurance sectors.
HCI Group announced the completion of its 2024-2025 catastrophe reinsurance programs. The treaty year runs from June 1, 2024, to May 31, 2025. HCI secured over $2.7 billion in aggregate reinsurance limit for its two towers, covering policies in and outside Florida. This includes a $14 million retention for Reinsurance Tower 1 and a $9 million retention for Reinsurance Tower 2. The estimated net consolidated reinsurance premiums ceded to third parties are around $333.6 million, assuming no losses. The premiums are subject to adjustment at September 30, 2024.
HCI Group, Inc. reported impressive first quarter 2024 results with a pre-tax income of $77.4 million and a diluted EPS of $3.81. Adjusted net income was $55.0 million, showing significant growth compared to the previous year. The company experienced a surge in consolidated gross premiums earned to $256.6 million, increased net investment income, and a lower gross loss ratio. HCI Group's management is optimistic about the future and plans to capitalize on their technology platform.
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