HCI Group
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Short interest as a percent of float is a great indicator of current market sentiment. -
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After launching as a flood underwriter, now more than 85% of TypTap’s book is homeowners’ business.
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HCI reported diluted earnings per share of $1.60 in Q3, compared to $1.02 a year earlier.
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The tally surpassed its $16mn retention, but this was the first hurricane of 2020 for which it pre-announced a loss.
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The company increased non-cat reserves by $26mn in the second quarter.
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The top line figure was also aided by the addition of business purchased from Anchor.
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