HCI Group will take $65mn retained loss from Ian
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HCI Group will take $65mn retained loss from Ian

HCI Group logo Tampa FL with Patel.jpg

HCI Group has estimated its retained losses at $65mn from Hurricane Ian, as chairman and CEO Paresh Patel suggested that at an industry level the losses will not be enough to exhaust the $17bn limit offered by the state reinsurance scheme.

HCI took a gross loss from Irma of $540mn, out of a total industry loss of $20.7bn.

Patel did not provide a gross loss estimate for Ian but emphasized that several key factors are aiding recovery from the storm.


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