Hci Group Earnings Reports

HCI Group, Inc. announced a strong first quarter for 2025, with pre-tax income reaching $100.3 million and net income of $74.2 million. Diluted earnings per share increased to $5.35 from $3.81 in the prior year. The company also announced plans for a potential tax-free spin-off of Exzeo by the end of the year.

HCI Group, Inc. reported a pre-tax income of $5.9 million and net income of $4.1 million for the fourth quarter of 2024. Diluted earnings per share were $0.23. Consolidated gross premiums earned increased by 38.0% to $297.5 million, primarily due to policy assumptions from Citizens Property Insurance Corporation. The company also saw an increase in net investment income and a reversal of previously accrued benefits related to retrospective reinsurance provisions.

HCI Group reported positive earnings despite Hurricanes Debby and Helene making landfall. The company's balance sheet remains strong, and the underlying business is performing well with continued growth.

HCI Group reported a strong second quarter in 2024, with pre-tax income of $76 million and net income of $57.1 million. Diluted earnings per share were $4.24, driven by growth in Florida and a decline in the gross loss ratio.

HCI Group reported a strong first quarter with pre-tax income of $77.4 million and net income of $57.0 million, or $3.81 diluted earnings per share, compared to the previous year's net income of $17.8 million, or $1.54 diluted earnings per share. The company successfully added a significant amount of premium with almost no added expense and launched a new carrier.

HCI Group reported a strong fourth quarter in 2023, with pre-tax income of $54.2 million and net income of $40.9 million, or $3.40 diluted earnings per share. The company achieved several milestones, including completing four Citizens assumptions, growing premiums-in-force by approximately 30%, and reducing the gross loss ratio to 30%.

HCI Group reported a net income of $15.7 million, or $1.34 diluted earnings per share, in Q3 2023, compared to a net loss of $51.5 million, or $5.66 loss per share, in Q3 2022. The company benefited from an improved operating environment in Florida and rising interest rates.

HCI Group reported a strong second quarter in 2023, with pre-tax income of $20.3 million and net income of $14.9 million, or $1.28 diluted earnings per share. This compares favorably to the second quarter of 2022, which saw a net loss of $8.5 million, or $1.04 loss per share. The positive results were driven by improved loss trends, higher average premium per policy, and benefits from the interest rate environment.

HCI Group reported a significant increase in net income for Q1 2023, driven by benefits from underwriting and rate actions, as well as legislative changes in Florida. Net income rose to $17.8 million, or $1.54 per diluted share, compared to $2.8 million, or $0.09 per diluted share, in Q1 2022. Adjusted net income also saw a substantial increase, reaching $17.4 million, or $1.50 per diluted share, compared to $5.5 million, or $0.34 per diluted share in the previous year.

HCI Group reported a net income of $2.7 million, or $0.18 diluted earnings per share, in Q4 2022, compared to a net income of $1.4 million, or $0.01 diluted earnings per share, in Q4 2021. The company saw an increase in consolidated gross premiums earned by 16.6% and improvement in net investment income due to repositioning the investment portfolio.

HCI Group reported a net loss of $51.5 million, or $5.66 loss per share, in Q3 2022, compared to a net loss of $4.9 million, or $0.72 loss per share, in Q3 2021. Excluding the impact of Hurricane Ian, the insurance divisions demonstrated strong performance, with gross premiums earned growing by more than 20% and the gross loss ratio improving to 41.4%.

HCI Group reported a net loss of $8.5 million, or $1.04 per share, in Q2 2022, compared to a net income of $3.8 million, or $0.24 diluted earnings per share, in Q2 2021. Adjusted net loss was $5.4 million, or $0.71 per share, compared to adjusted net income of $2.7 million, or $0.11 diluted earnings per share, in Q2 2021. Gross premiums earned grew by 30%.

HCI Group reported a net income of $2.8 million, or $0.09 diluted earnings per share, for the first quarter of 2022. Adjusted net income was $5.5 million, or $0.34 diluted earnings per share. Consolidated gross written premiums increased by 40.9% year-over-year, and consolidated gross premiums earned increased by 36.6%.

HCI Group reported a net income of $1.4 million, or $0.01 diluted earnings per share, for the fourth quarter of 2021, compared to a net income of $2.7 million, or $0.35 diluted earnings per share, for the fourth quarter of 2020. Consolidated gross written premiums increased by 35.9% to $189.3 million. Consolidated gross premiums earned increased 43.8% to $156.8 million.

HCI Group reported a net loss of $4.9 million for the third quarter of 2021, compared to a net income of $15.4 million in the third quarter of 2020. Adjusted net loss was $3.5 million, compared to an income of $14.4 million in the same period last year. Despite the net loss, book value per share increased by approximately 16% to $30.39 per share.

HCI Group reported a net income of $3.8 million, or $0.24 diluted earnings per share, for the second quarter of 2021. Consolidated gross written premiums were up 7.6% and consolidated gross premiums earned were up 29.3% compared to the second quarter of 2020.

HCI Group reported a net income of $6.1 million, or $0.75 diluted earnings per share, for the first quarter of 2021, compared to $0.5 million, or $0.07 diluted earnings per share, for the first quarter of 2020. Consolidated gross written premiums increased by 64.4% year-over-year, driven by growth in Homeowners Choice and TypTap Insurance Company.

HCI Group reported a net income of $2.7 million, or $0.35 diluted earnings per share, for the fourth quarter of 2020. Consolidated gross written premiums were $139.3 million, up 109.2% from the fourth quarter of 2019. Gross premiums earned increased 21.0% to $109.1 million.

HCI Group reported a net income of $15.4 million, or $1.70 per diluted share, for the third quarter of 2020, compared to $5.9 million, or $0.73 per diluted share, in the third quarter of 2019. Consolidated gross written premiums for the third quarter of 2020 were $116.5 million, up 19.6% from $97.3 million in the third quarter of 2019.

HCI Group reported a net income of $8.9 million, or $1.08 diluted earnings per share, for the second quarter of 2020, compared to $7.6 million, or $0.90 diluted earnings per share, in the second quarter of 2019. Consolidated gross written premiums for the second quarter of 2020 were $171.9 million, up 28.9% from $133.4 million in the second quarter of 2019.

HCI Group's first quarter results for 2020 showed a net income of $0.5 million, or $0.07 diluted earnings per share, which was lower than the $6.7 million, or $0.82 diluted earnings per share, reported in the first quarter of 2019. However, adjusted net income, excluding net unrealized gains or losses on equity securities, was $4.2 million, or $0.54 diluted earnings per share, compared to $2.8 million, or $0.35 diluted earnings per share, in the same quarter of the previous year. The combined ratio improved to 88.8% from 100.3% in the prior year period, and consolidated gross written premiums increased by 13.2% to $76.5 million, driven by the growth of TypTap Insurance Company.

HCI Group reported a net income of $6.4 million, or $0.82 diluted earnings per share, for the fourth quarter of 2019, compared to a net loss of $8.5 million, or $0.95 loss per share, in the fourth quarter of 2018. Consolidated gross written premiums increased by 52.8% to $66.6 million, driven by the rapid growth of TypTap Insurance Company.