TAMPA, Fla., April 09, 2019 (GLOBE NEWSWIRE) -- HCI Group, Inc. (NYSE:HCI), a holding company primarily engaged in homeowners’ insurance with additional operations in reinsurance, real estate and information technology, reported a recent severe thunderstorm that brought hail to several areas of Brevard County, Florida.
The company’s preliminary estimates indicate losses related to this hailstorm will be in the range of $4 to $7 million.
“Hailstorms occur this time of year in Florida,” said Paresh Patel, HCI Group’s chairman and chief executive officer. “Because it was wind-driven, it not only damaged the roofs of homes, but the siding, windows, and fences as well. Fortunately, we were prepared for such an event, and have been able to respond fully and swiftly to our policyholders’ claims.”
About HCI Group, Inc.
HCI Group, Inc. owns subsidiaries engaged in diverse, yet complementary business activities, including homeowners’ insurance, reinsurance, real estate and information technology. The company's largest subsidiary, Homeowners Choice Property & Casualty Insurance Company, Inc., is a leading provider of property and casualty insurance in Florida.
The company's common shares trade on the New York Stock Exchange under the ticker symbol "HCI" and are included in the Russell 2000 and S&P SmallCap 600 Index. HCI Group, Inc. regularly publishes financial and other information in the Investor Information section of the company’s website. For more information about HCI Group and its subsidiaries, visit www.hcigroup.com.
Kevin Mitchell, Senior Vice President of Investor Relations
HCI Group, Inc.
Investor Relations Contact:
Matt Glover and Najim Mostamand, CFA