Hci Group Stock Price, News & Analysis

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.

HCI Group reported a net loss of $4.9 million or $0.72 per share for Q3 2021, down from a profit of $15.4 million in Q3 2020, which included a one-time gain of $37 million. Adjusted net loss was $3.5 million. Despite the loss, book value per share rose 16% to $30.39 due to the conversion of $82.8 million in convertible notes. Gross written premiums surged 49.6% to $174.3 million, driven by TypTap's growth. However, losses increased to $62.7 million, partly due to storm-related events. For the nine months ended September 30, 2021, net income was $5.8 million, down from $24.9 million in 2020.

HCI Group, Inc. (NYSE:HCI) will hold a conference call on November 9, 2021, at 8:30 a.m. Eastern time to discuss its third-quarter results ending September 30, 2021. A press release with financial results will precede the call. The call can be accessed via toll-free or international numbers with an entry code. HCI Group's operations include homeowners insurance and real estate, with TypTap Insurance Company as its main subsidiary. HCI’s shares are listed 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 2021, payable on December 17, 2021. Shareholders of record by the close of business on November 19, 2021 will receive this dividend. The company operates in homeowners insurance, IT services, real estate, and reinsurance. Notably, its subsidiary TypTap Insurance Company is expanding its footprint in the insurance sector, driven by advanced technology from its software subsidiary, Exzeo USA, Inc.

HCI Group, Inc. (NYSE:HCI) reported a net income of $3.8 million for Q2 2021, a decline from $8.9 million in Q2 2020, translating to $0.24 diluted EPS versus $1.08. Adjusted net income also fell to $2.7 million, down from $6.8 million year-over-year. Consolidated gross written premiums increased 7.6% to $185.0 million, attributed to growth in TypTap and a quota share arrangement with United. Net investment income rose to $2.6 million. Losses and loss adjustment expenses jumped to $55.9 million, up from $39.8 million in Q2 2020. For 6 months, net income was $10.7 million, up from $9.5 million in 2020.

HCI Group, Inc. (NYSE:HCI) announced that its subsidiary, TypTap Insurance Group, has confidentially filed a draft registration statement on Form S-1 with the SEC for a proposed initial public offering (IPO) of TypTap's common stock. The size and pricing of the offering remain undetermined, and the IPO is contingent on the SEC review process and market conditions. There is no guarantee that the IPO will be completed.

The board of directors of HCI Group has declared a quarterly cash dividend of 40 cents per common share for Q3 2021. The dividend is set to be paid on September 17, 2021 to shareholders on record as of August 20, 2021. HCI operates in homeowners insurance and real estate, with subsidiaries like TypTap Insurance Company and Homeowners Choice Property & Casualty Insurance Company, focusing on technology-driven solutions for homeowners and flood insurance.

HCI Group, Inc. (NYSE:HCI) will host a conference call on August 5, 2021, at 4:45 p.m. Eastern to discuss its second-quarter 2021 financial results, which will be released after market close that day. Interested parties can participate via a dedicated toll-free number or through the company's website. HCI operates in homeowners insurance and real estate, with subsidiaries including TypTap Insurance Company and Homeowners Choice Property & Casualty Insurance Company. The call will be followed by a Q&A session, and a replay will be available post-call.