HCI Group

The Floridian secured $2.7bn in aggregate limit across two towers.

The loss ratio in the business that HCI assumed was also better than anticipated.

The Insurance Insider US news team runs you through the earnings results for the day.

The stock reached a 52-week high Friday.

Estimates were revised from $845mn to $740mn.

The Insurance Insider US news team runs you through the earnings results for the day.

The company announced it is undertaking several strategic steps designed to increase operational and capital flexibility and to better position it for future growth opportunities.

The assumption brings TypTap’s total in-force premium to $1bn.

HCI sold a total of 1.15 million shares of its common stock at a public offering price of $78 per share, before underwriting discounts and commissions.

HCI is offering one million common stock shares priced at $78 per share.

CORE plans to commence operations in February 2024 by assuming policies representing approximately $75mn of in-force premium from state-backed insurer Citizens.

The Floridian was approved for 75,000 policies, made 72,958 offers and assumed 53,750 policies – a 74% acceptance rate.