HCI estimates gross Ian losses at $970mn as CoR spikes 65 points to 177.6%
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HCI estimates gross Ian losses at $970mn as CoR spikes 65 points to 177.6%

Chris DeZinno
November 08, 2022
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HCI Group logo Tampa Florida.jpg

HCI Group expects initial gross losses from Hurricane Ian to come in at $970mn, well within the company’s reinsurance towers, CFO Mark Harmsworth said during a third-quarter earnings call with analysts.

HCI announced in October that it expected to retain a total pre-tax net loss from Ian of $78mn. It estimated its total net retained losses at $65mn, with $13mn in reversals of accrued benefits.

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