TAMPA, Fla., Jan. 22, 2021 (Globe NEWSWIRE) — HCI Group, Inc. (NYSE: HCI), an InsurTech corporation with operations in insurance plan, software program enhancement and true estate, has entered into a renewal rights arrangement, dated January 18, 2021, with United Insurance coverage Holding Corp. (NASDAQ: UIHC) pursuant to which United is to transition to HCI all its personalized strains coverage business 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 Govt Officer Paresh Patel. “When totally consummated, these transactions will accelerate our strategic program to grow nationally. We will get not only a seasoned e-book of business, but also an founded agent network and important underlying info.”
About HCI Group, Inc.
HCI Group, Inc. is an InsurTech enterprise with operations in insurance plan, software growth and serious estate. HCI’s primary coverage procedure, TypTap Insurance Business, is a promptly increasing, engineering-pushed insurance organization, which presents owners coverage and flood coverage in Florida. TypTap’s operations are driven in big element by insurance coverage-similar info technological know-how designed by HCI’s computer software subsidiary, Exzeo Usa, Inc. HCI’s largest subsidiary, Home owners Selection Property & Casualty Insurance policy Firm, Inc., offers homeowners’ insurance policies mainly in Florida. HCI’s true estate subsidiary, Greenleaf Capital, LLC, owns and operates numerous houses in Florida, which includes place of work properties, retail centers and marinas.
The company’s popular shares trade on the New York Stock Trade under the ticker symbol “HCI” and are integrated in the Russell 2000 and S&P SmallCap 600 Index. HCI Team, Inc. often publishes fiscal and other information and facts in the Investor Data section of the company’s web page. For a lot more information about HCI Team and its subsidiaries, take a look at www.hcigroup.com.
Ahead-On the lookout Statements
This news release might include ahead-looking statements designed pursuant to the Personal Securities Litigation Reform Act of 1995. Phrases such as “anticipate,” “estimate,” “expect,” “intend,” “plan,” “confident,” “prospects” and “project” and other comparable words and expressions are intended to signify forward-searching statements. Ahead-wanting statements are not guarantees of future outcomes and ailments, but alternatively are subject matter to various pitfalls and uncertainties. For illustration, there can be no assurance that insurance coverage regulators will permit HCI to work in the applicable states and approve the proposed terms of the transaction. Even further, there can be no assurance the transitioned organization will be worthwhile. Some of these hazards and uncertainties are identified in the company’s filings with the Securities and Exchange Commission. Really should any risks or uncertainties acquire into real activities, these developments could have product adverse consequences on the proposed transaction and HCI’s organization, economical situation, and results of operations. HCI Team, Inc. disclaims all obligations to update any ahead-seeking statements.
Firm Get hold of:
Rachel Swansiger, Esq.
HCI Group, Inc.
Tel (813) 405-3206
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