TAMPA, Fla., Jan. 22, 2021 (Globe NEWSWIRE) — HCI Group, Inc. (NYSE: HCI), an InsurTech organization with functions in insurance plan, software package advancement and actual estate, has entered into a renewal rights settlement, dated January 18, 2021, with United Coverage Holding Corp. (NASDAQ: UIHC) pursuant to which United is to changeover to HCI all its individual lines coverage enterprise in the states of Connecticut, New Jersey, Massachusetts and Rhode Island.
“We’re energized to enter into this agreement with United,” explained HCI Team Chairman and Main Executive Officer Paresh Patel. “When thoroughly consummated, these transactions will accelerate our strategic prepare to grow nationally. We will receive not only a seasoned e-book of company, but also an established agent community and significant fundamental data.”
About HCI Team, Inc.
HCI Team, Inc. is an InsurTech corporation with functions in insurance plan, application enhancement and actual estate. HCI’s foremost insurance coverage procedure, TypTap Insurance policies Company, is a quickly expanding, engineering-driven insurance coverage corporation, which supplies householders insurance plan and flood insurance policies in Florida. TypTap’s functions are powered in significant portion by insurance policies-linked information technological innovation produced by HCI’s software program subsidiary, Exzeo United states of america, Inc. HCI’s largest subsidiary, Homeowners Preference Assets & Casualty Insurance policies Company, Inc., supplies homeowners’ insurance plan largely in Florida. HCI’s authentic estate subsidiary, Greenleaf Cash, LLC, owns and operates various qualities in Florida, such as business buildings, retail centers and marinas.
The company’s prevalent shares trade on the New York Inventory Trade underneath the ticker image “HCI” and are provided in the Russell 2000 and S&P SmallCap 600 Index. HCI Team, Inc. routinely publishes monetary and other information and facts in the Investor Details portion of the company’s web site. For far more data about HCI Team and its subsidiaries, go to www.hcigroup.com.
This information release may possibly comprise ahead-looking statements designed pursuant to the Non-public Securities Litigation Reform Act of 1995. Terms these types of as “anticipate,” “estimate,” “expect,” “intend,” “plan,” “confident,” “prospects” and “project” and other comparable words and phrases and expressions are supposed to signify ahead-looking statements. Forward-searching statements are not guarantees of potential final results and ailments, but instead are issue to many hazards and uncertainties. For case in point, there can be no assurance that coverage regulators will permit HCI to run in the relevant states and approve the proposed phrases of the transaction. Even more, there can be no assurance the transitioned business will be worthwhile. Some of these challenges and uncertainties are discovered in the company’s filings with the Securities and Trade Commission. Must any risks or uncertainties develop into actual situations, these developments could have substance adverse results on the proposed transaction and HCI’s organization, economical situation, and final results of functions. HCI Group, Inc. disclaims all obligations to update any ahead-searching statements.
Corporation Make contact with:
Rachel Swansiger, Esq.
HCI Team, Inc.
Tel (813) 405-3206
Trader Relations Make contact with:
Gateway Investor Relations
Tel (949) 574-3860
Media Speak to:
Tel (727) 466-7695