Hci Group Stock Price, News & Analysis

HCI Group, a multi-faceted holding company, reported a net income of $1.4 million for Q4 2021, a drop from $2.7 million in Q4 2020. The adjusted net loss was $0.1 million, compared to an adjusted net income of $1.8 million a year earlier. Despite this, gross written premiums rose 35.9% to $189.3 million. For the full year, net income totaled $7.2 million, sharply down from $27.6 million in 2020, attributed to a prior one-time gain. However, gross written premiums increased 33.8% to $674.4 million.

HCI Group, Inc. (NYSE:HCI) reported a significant reduction in its 4.25% Convertible Senior Notes, lowering the outstanding balance to approximately $24 million from $139 million last year. No noteholders exercised their purchase option by the February 28 deadline. HCI Chairman Paresh Patel stated the company has improved its balance sheet, achieving a debt-to-capital ratio of 16% and maintaining over $100 million in liquidity for growth funding in 2022. HCI operates in homeowners insurance, information technology, real estate, and reinsurance.

HCI Group, Inc. (NYSE: HCI) will participate in the Bank of America Securities 2022 Insurance Conference on February 15, 2022. HCI's Chairman and CEO, Paresh Patel, is scheduled for a panel discussion at 10:15 a.m. Eastern time. Throughout the day, management will also engage in one-on-one meetings with institutional investors. HCI Group is known for its diverse operations in homeowners insurance, reinsurance, real estate, and information technology services, with its leading insurance operation, TypTap Insurance Company, expanding nationwide.

HCI Group, Inc. (NYSE:HCI), a diverse holding company based in Tampa, will hold a conference call on March 9, 2022, at 8:30 a.m. Eastern time to discuss its Q4 and full-year results for 2021. The results will be released after market hours on March 8, 2022. Interested parties can participate via telephone or by accessing the webcast through the Investor Information section of HCI's website. A replay will be available on the same day after 8:00 p.m. Eastern time until April 8, 2022.

The board of directors of HCI Group has declared a quarterly cash dividend of 40 cents per share for Q1 2022. This dividend will be paid on March 18, 2022, to shareholders recorded by the close of business on February 18, 2022. HCI Group operates in homeowners insurance, information technology services, real estate, and reinsurance sectors, with its insurance segment led by TypTap Insurance Company. The company trades under the ticker HCI on the NYSE.

HCI Group, Inc. (NYSE:HCI) has paused the initial public offering (IPO) of its subsidiary, TypTap Insurance Group, due to unfavorable market conditions. Chairman and CEO Paresh Patel stated that current market pricing does not reflect TypTap's value. HCI believes it can support TypTap's growth without IPO funding and will reassess conditions over the coming quarters for a potential future offering. A registration statement for the IPO has been filed but is not yet effective. HCI focuses on diverse business activities including homeowners insurance, reinsurance, and real estate.

HCI Group, Inc. (NYSE:HCI) has reached an agreement with United Insurance Holdings Corp. to transition its personal lines insurance business in Georgia, North Carolina, and South Carolina. This deal encompasses approximately $90 million in annual premiums. HCI will provide 85% quota share reinsurance for policies from December 31, 2021, to May 31, 2022, and pay a provisional ceding commission of 25% of premium earned. The transaction, effective until July 1, 2025, is subject to regulatory approvals and aims to enhance HCI's growth and market presence.

United Insurance Holdings Corp. (UIHC) has reached an agreement to transfer its personal lines business in Georgia, North Carolina, and South Carolina to HCI Group, Inc. (HCI). This transaction allows UIHC to focus capital on its growing commercial specialty property sector. HCI will provide 85% quota share reinsurance for UPC's policies in these states from December 31, 2021, to May 31, 2022, with estimated net ceding commissions of $8.3 million to $10.6 million. The deal also includes an upfront cash payment of $3.8 million from HCI to UIHC, with renewal rights granted until July 1, 2025.

HCI Group, Inc. (NYSE: HCI) announced that its subsidiary, TypTap Insurance Group, has filed a registration statement on Form S-1 for a proposed initial public offering (IPO). The number of shares and pricing details are undetermined, and the offering will depend on market conditions. JMP Securities LLC and Truist Securities, Inc. are the lead book-runners. The filing has been made with the SEC, but the registration has not yet become effective, preventing any sales of securities until that occurs.