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Sep 30, 2021
Hci Group Q3 2021 Earnings Report
Experienced a net loss due to one-time gain in prior year and increased expenses, while gross written premiums and gross premiums earned increased.
Key Takeaways
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.
Net loss of $4.9 million or $0.72 diluted loss per share, compared to net income of $15.4 million or $1.70 diluted earnings per share in Q3 2020.
Adjusted net loss of $3.5 million or $0.64 diluted loss per share, compared to income of $14.4 million or $1.60 diluted earnings per share in Q3 2020.
Book value per share increased by approximately 16% to $30.39 per share.
Consolidated gross written premiums increased 49.6% to $174.3 million from $116.5 million in Q3 2020.
Hci Group
Hci Group
Hci Group Revenue by Segment
Revenue by Segment
Homeowners Choice Revenue
CapyFin.com Forward Guidance
HCI Group is making important investments to maximize TypTap's opportunity, confident that the long-term payback will outweigh any short-term impact.