HCI Group News

HCI Invested in Tampa Office Site, Now Leasing it to GEICO for 1,000-Job Expansion

Berkshire Hathaway’s GEICO insurance plans to open a new campus in Tampa late this summer, bringing more than 1,000 jobs to the area. The property and auto insurer also plans to open an office in the Dallas area by this …

Homeowners Have Post-Loss Duties Too, Florida Appeals Court Says in HCI Win

Florida insurers, often on the receiving end of insureds’ complaints – in the courts and in the news media – may take heart from a new ruling by a Florida appeals court, which draws a bold line under insureds’ responsibilities …

HCI Group Expects to Pay $600M to $750M in Claims from Recent Hurricanes

Publicly traded HCI Group, the Tampa-based holding company for Homeowners Choice Property & Casualty, TypTap and a new condominium insurance reciprocal, is one of the first Florida insurers to report estimated losses after recent hurricanes. HCI said in a statement …

Florida’s HCI Group Reports Another Healthy Quarter

TAMPA, Fla. (AP) — HCI Group Inc. (HCI) on Wednesday reported first-quarter profit of $47.6 million, which follows a $38 million profit for Q4 2023. The Tampa-based company said it had profit of $3.81 per share. Earnings, adjusted for non-recurring …

Florida-Based HCI Group Reports Strong Gain in Q4 Earnings

TAMPA, Fla. (AP) — HCI Group Inc. (HCI) on Thursday reported fourth-quarter earnings of $38.1 million, a significant improvement over Q4 2022. The Tampa, Florida-based company said it had profit of $3.40 per share. Earnings, adjusted for non-recurring gains, were …

HCI’s Homeowners Choice Takes On 53.7K Florida Citizens Policies; TypTap Goes Next

Homeowners Choice Property & Casualty Insurance Co. recently assumed approximately 53,750 policies from Citizens Property Insurance Corp., Florida’s state-backed insurance company. The policies assumed amount to approximately $196 million of in-force premium. The insurer said the assumption, which was effective …

More Signs of Life in Florida: New Insurers in Market, More Citizens Takeouts

Florida’s property insurance market is showing more signs of life, with another company requesting a large takeout order from Citizens Property Insurance and two new companies entering the arena. Tampa-based HCI Group’s CEO Paresh Patel said in an earnings call …

TypTap Insurance President Talks About Insurtech’s First Profit, Future

When HCI Group’s TypTap Insurance launched in 2016, it created a buzz in the industry and some skepticism, due to the company’s plan to rely heavily on mapping technology and property data. This month, Tampa-based HCI announced that, after a …

HCI Launching New Florida HO Insurer After Go-Ahead From Regulators

Florida regulators have given a green light to a new homeowners insurance company, the first since state lawmakers took steps in December to rein in costly claims litigation. Tailrow Insurance Co., part of HCI Group, was approved April 4 by …

HCI Group’s Home and Flood Insurtech TypTap Files for Possible IPO

HCI Group, Inc. announced that its insurtech subsidiary, TypTap Insurance Group, Inc., a Florida-based writer of private market homeowners and flood insurance, has confidentially submitted a draft registration statement for a proposed initial public offering with the Securities and Exchange …