• Filing Date: 2015-03-10
  • Form Type: 10-K
  • Description: Annual report
v2.4.1.9
Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Revenue      
Gross premiums earned $ 365,488hci_GrossPremiumsEarnedPropertyAndCasualty $ 337,113hci_GrossPremiumsEarnedPropertyAndCasualty $ 233,607hci_GrossPremiumsEarnedPropertyAndCasualty
Premiums ceded (113,423)us-gaap_CededPremiumsEarned (102,865)us-gaap_CededPremiumsEarned (75,939)us-gaap_CededPremiumsEarned
Net premiums earned 252,065us-gaap_PremiumsEarnedNetPropertyAndCasualty 234,248us-gaap_PremiumsEarnedNetPropertyAndCasualty 157,668us-gaap_PremiumsEarnedNetPropertyAndCasualty
Net investment income 4,781us-gaap_NetInvestmentIncome 1,469us-gaap_NetInvestmentIncome 980us-gaap_NetInvestmentIncome
Policy fee income 2,820us-gaap_FeesAndCommissions 3,098us-gaap_FeesAndCommissions 2,538us-gaap_FeesAndCommissions
Net realized investment gains 4,735us-gaap_GainLossOnSaleOfInvestments 80us-gaap_GainLossOnSaleOfInvestments 276us-gaap_GainLossOnSaleOfInvestments
Gain on bargain purchase     179us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount
Other 1,707us-gaap_OtherIncome 2,193us-gaap_OtherIncome 1,424us-gaap_OtherIncome
Total revenue 266,108us-gaap_Revenues 241,088us-gaap_Revenues 163,065us-gaap_Revenues
Expenses      
Losses and loss adjustment expenses 79,468us-gaap_IncurredClaimsPropertyCasualtyAndLiability 65,123us-gaap_IncurredClaimsPropertyCasualtyAndLiability 66,310us-gaap_IncurredClaimsPropertyCasualtyAndLiability
Policy acquisition and other underwriting expenses 37,952us-gaap_ExpenseRelatedToDistributionOrServicingAndUnderwritingFees 31,619us-gaap_ExpenseRelatedToDistributionOrServicingAndUnderwritingFees 25,930us-gaap_ExpenseRelatedToDistributionOrServicingAndUnderwritingFees
Salaries and wages 16,483us-gaap_SalariesWagesAndOfficersCompensation 14,714us-gaap_SalariesWagesAndOfficersCompensation 10,545us-gaap_SalariesWagesAndOfficersCompensation
Interest expense 10,453us-gaap_InterestExpenseDebt 3,607us-gaap_InterestExpenseDebt  
Goodwill impairment loss     161us-gaap_GoodwillImpairmentLoss
Other operating expenses 20,790us-gaap_OtherCostAndExpenseOperating 19,572us-gaap_OtherCostAndExpenseOperating 10,539us-gaap_OtherCostAndExpenseOperating
Total expenses 165,146us-gaap_OperatingExpenses 134,635us-gaap_OperatingExpenses 113,485us-gaap_OperatingExpenses
Income before income taxes 100,962us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest 106,453us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest 49,580us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
Income tax expense 38,298us-gaap_IncomeTaxExpenseBenefit 40,891us-gaap_IncomeTaxExpenseBenefit 19,423us-gaap_IncomeTaxExpenseBenefit
Net income 62,664us-gaap_NetIncomeLoss 65,562us-gaap_NetIncomeLoss 30,157us-gaap_NetIncomeLoss
Preferred stock dividends 4us-gaap_PreferredStockDividendsAndOtherAdjustments (104)us-gaap_PreferredStockDividendsAndOtherAdjustments (322)us-gaap_PreferredStockDividendsAndOtherAdjustments
Income available to common stockholders $ 62,668us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ 65,458us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ 29,835us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
Basic earnings per common share $ 5.90us-gaap_EarningsPerShareBasic $ 5.82us-gaap_EarningsPerShareBasic $ 3.45us-gaap_EarningsPerShareBasic
Diluted earnings per common share $ 5.36us-gaap_EarningsPerShareDiluted $ 5.63us-gaap_EarningsPerShareDiluted $ 3.02us-gaap_EarningsPerShareDiluted
Dividends per common share $ 1.10us-gaap_CommonStockDividendsPerShareDeclared $ 0.95us-gaap_CommonStockDividendsPerShareDeclared $ 0.88us-gaap_CommonStockDividendsPerShareDeclared