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Stock impact report

HCI Group Provides Hurricane Season Update

HCI Group, Inc. (HCI) 
Last hci group, inc. earnings: 3/5 04:15 pm Check Earnings Report
US:NYSE Investor Relations: hcigroup.com
Company Research Source: GlobeNewswire
TAMPA, Fla., Oct. 16, 2024 (GLOBE NEWSWIRE) -- HCI Group, Inc. (NYSE: HCI), a holding company with operations in homeowners insurance, information technology services, real estate, and reinsurance, announced today the estimated losses attributable to Hurricanes Debby, Helene, and Milton. “Our policyholders have experienced three major catastrophe events over the past few months. We are responding to the needs of our policyholders and ensuring that their claims are handled quickly and efficiently,” said HCI’s Chairman and Chief Executive Officer Paresh Patel. “Across all three events, HCI expects to pay $600 to $750 million to our policyholders to help them rebuild their lives.” Third Quarter Update:Net retained losses from Hurricanes Debby and Helene, after considering reinsurance recoveries as well as the reversal of benefits accrued under a multi-year reinsurance agreement, are expected to result in a net expense to the company in the third quarter of approximately $60 million. Show less Read more
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