HCI Group
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The company sees and opportunity to grow market share in the state. -
The sector was hit by a rough first half of 2022, with more to come in the second half of the year.
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The US P&C carrier is putting more premium through its captive.
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Excessive litigation costs and continued losses threaten the Sunshine state’s market.
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Forecasters have again predicted an active season for storm activity, with the Florida market particularly vulnerable to high cat activity.
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The chunky deal comes as many reinsurers are heavily cutting their Florida cat books.
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Insurers could face pressure if interest rate and recession fears intersect with worsening loss cost trends.
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The Florida carrier has yet to finalise its programs as it awaits potential reforms.
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The company’s convertible notes now have $24mn outstanding.
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Investors are taking a second look at private valuations, as they realize that an IPO or a SPAC exit is no longer an attractive option in the short term.
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The next generation must stay private longer, employ a partnership approach to capital and take the complexities of insurance more seriously.
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Stock prices fluctuated, and InsurTech short-sellers took some profits.
Related
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HCI Group spinning off in-house tech subsidiary Exzeo: CEO Patel
February 27, 2025 -
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