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Sep 30, 2022
Hci Group Q3 2022 Earnings Report
Reported a net loss due to Hurricane Ian, while insurance divisions, excluding Ian, showed solid results with gross premiums growing and improved gross loss ratio.
Key Takeaways
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%.
Net loss of $51.5 million, or $5.66 loss per share, compared to net loss of $4.9 million, or $0.72 loss per share, in Q3 2021.
Adjusted net loss was $51.2 million, or $5.62 loss per share, compared to adjusted net loss of $3.5 million, or $0.64 loss per share, in Q3 2021.
Consolidated gross premiums earned of $181.7 million, an increase of 21.3% from Q3 2021.
Excluding Hurricane Ian, losses and loss adjustment expenses were 41.4% of gross premiums earned, down from 47.9% in Q2 2022.
Revenue by Segment
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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