HCI Group

The company had assumed 200,000 policies by the end of Q2 and will now “resume growth to a higher number in the future”, Patel told analysts.

The Inside P&C news team runs you through the earnings results for the day.

Forecasts for “near-normal” activity may mean the chance at a reprieve for the Florida market, but a history of underestimates warrants caution.

The carrier is obligated to use the RAP program and upped its ceded premiums.

The stock price went as high as $60.60 per share at midday Wednesday, compared to yesterday’s close at $50.48 per share.

HCI was modelling a decrease in claim frequency of about 15% to 20% and in litigation frequency of about 3%.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

HCI will own all its stock, launching it with 2.5 million shares valued at $1 per share.

Need to Know

The carrier reported a Q4 consolidated loss ratio of 39.4%, down one point on the year as claims frequency declined while severity stabilized towards the end of the year.

The company is confident it has sufficient additional reinsurance capacity should claims begin to develop outside of initial expectations.