HCI Group Offers Perspective on Hurricane Ian and Q3 Financial Impact
October 10 2022 - 8:00AM
HCI Group, Inc. (NYSE:HCI), a holding company with
operations in homeowners insurance, information technology
services, real estate, and reinsurance, has published a video and
presentation on our website providing management’s initial view on
Hurricane Ian and an assessment of the financial impact of this
event on HCI’s third quarter financial results.
The video and presentation can be found at company’s website
located at www.hcigroup.com.
“Our thoughts go out to all who have been affected by this
hurricane. Our focus at this time is on our policyholders and
ensuring their claims are handled quickly and efficiently,” said
Paresh Patel, HCI’s chairman and chief executive officer. “Earlier
this year we secured a robust reinsurance program with four
separate reinsurance towers that provide HCI with significant
protection in Florida and in our expansion states. Additionally,
HCI maintains significant reinsurance protection for the remainder
of the contract year.”
About HCI Group, Inc.HCI Group, Inc. owns
subsidiaries engaged in diverse, yet complementary business
activities, including homeowners insurance, reinsurance, real
estate and information technology services. HCI’s leading insurance
operation, TypTap Insurance Company, is a rapidly growing,
technology-driven insurance company that is expanding nationwide to
provide homeowners and flood insurance. TypTap’s operations are
powered in large part by insurance-related information technology
developed by HCI’s software subsidiary, Exzeo USA, Inc. HCI’s
largest subsidiary, Homeowners Choice Property & Casualty
Insurance Company, Inc., provides homeowners insurance primarily in
Florida. HCI’s real estate subsidiary, Greenleaf Capital, LLC, owns
and operates multiple properties in Florida, including office
buildings, retail centers and marinas.
The company's common shares trade on the New York Stock Exchange
under the ticker symbol "HCI" and are included in the Russell 2000
and S&P SmallCap 600 Index. HCI Group, Inc. regularly publishes
financial and other information in the Investor
Information section of the company’s website. For more
information about HCI Group and its subsidiaries,
visit www.hcigroup.com.
Forward-Looking StatementsThis news release may
contain forward-looking statements made pursuant to the Private
Securities Litigation Reform Act of 1995. Words such as
"anticipate," "estimate," "expect," "intend," "plan," "confident,"
"prospects" and "project" and other similar words and expressions
are intended to signify forward-looking statements. Forward-looking
statements are not guarantees of future results and conditions, but
rather are subject to various risks and uncertainties. For example,
the estimation of losses and loss adjustment expenses is an
inherently imprecise process involving many assumptions and
considerable management judgment. Some of these risks and
uncertainties are identified in the company's filings with the
Securities and Exchange Commission. Should any risks or
uncertainties develop into actual events, these developments could
have material adverse effects on the company's business, financial
condition and results of operations. HCI Group, Inc. disclaims all
obligations to update any forward-looking statements.
Company Contact:Simon RosenbergInvestor
RelationsHCI Group, Inc.Tel (813)
405-5261srosenberg@hcigroup.com
Investor Relations Contact:Matt GloverGateway
Group, Inc.Tel (949) 574-3860HCI@gatewayir.com
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