{"id":788588,"date":"2023-10-05T18:39:24","date_gmt":"2023-10-05T22:39:24","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/hci-group-insurance-subsidiary-typtap-was-approved-to-assume-up-to-25000-policies-from-citizens-property-insurance-corporation\/"},"modified":"2023-10-05T18:39:24","modified_gmt":"2023-10-05T22:39:24","slug":"hci-group-insurance-subsidiary-typtap-was-approved-to-assume-up-to-25000-policies-from-citizens-property-insurance-corporation","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/hci-group-insurance-subsidiary-typtap-was-approved-to-assume-up-to-25000-policies-from-citizens-property-insurance-corporation\/","title":{"rendered":"HCI Group Insurance Subsidiary TypTap Was Approved To Assume Up To 25,000 Policies From Citizens Property Insurance Corporation"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"left\">TAMPA, Fla., Oct.  05, 2023  (GLOBE NEWSWIRE) &#8212; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=rdv8Vk-Yyek9yOxSjOqegJrDCJZOBtWOTCZlSWam10H3P3uqESOnxHdx4r9CKfyh0IJX420jtbhCjKB3jYzJlA==\" rel=\"nofollow noopener\" target=\"_blank\"><strong>HCI Group, Inc.<\/strong><\/a><strong> (NYSE: HCI)<\/strong>, a holding company with operations in homeowners insurance, information technology services, real estate, and reinsurance, announced today that its subsidiary, TypTap Insurance Company, has received approval by the Florida Office of Insurance Regulation to assume up to 25,000 policies from Citizens Property Insurance Corporation, Florida\u2019s state-backed insurance company. The assumption would be under Florida\u2019s legislatively mandated depopulation program, which is designed to encourage private companies to assume policies from Citizens.<\/p>\n<p>\u201cTypTap has leveraged internally developed technology enabling it to grow organically in Florida. With the operating environment improving in Florida, we see an opportunity to supplement TypTap\u2019s existing business through the Citizens depopulation program,\u201d said Paresh Patel, HCI\u2019s chairman and chief executive officer.<\/p>\n<p>The number of policies to be assumed from Citizens is expected to be finalized in December. Citizens policyholders are entitled to reject the assumption in some cases or move their business to another company.<\/p>\n<p>\n        <strong>About HCI Group, Inc.<\/strong><br \/>\n        <br \/>HCI Group, Inc. owns subsidiaries engaged in diverse, yet complementary business activities, including homeowners insurance, information technology services, insurance management, real estate, and reinsurance. HCI\u2019s leading insurance operation, TypTap Insurance Company, is a technology-driven homeowners insurance company. TypTap\u2019s operations are powered in large part by insurance-related information technology developed by HCI\u2019s software subsidiary, Exzeo USA, Inc. HCI\u2019s largest subsidiary, Homeowners Choice Property &amp; Casualty Insurance Company, Inc., provides homeowners insurance primarily in Florida. HCI\u2019s real estate subsidiary, Greenleaf Capital, LLC, owns and operates multiple properties in Florida, including office buildings, retail centers and marinas.<\/p>\n<p>The company&#8217;s common shares trade on the New York Stock Exchange under the ticker symbol &#8220;HCI&#8221; and are included in the Russell 2000 and S&amp;P SmallCap 600 Index. HCI Group, Inc. regularly publishes financial and other information in the <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=oOx975r1CPPFZEfB2Ae_Mnqem_eQxSZIplcBgD7THPW1phwXghuorvY0UdfXXKWGC0yV-fF1fY9v-II5e5yO_HJQinKwerX8vWvuMmQubd0kxKwI1WxJwOhRe-DUtU4K\" rel=\"nofollow noopener\" target=\"_blank\">Investor Information<\/a> section of the company\u2019s website. For more information about HCI Group and its subsidiaries, visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=FkhdXQlii7Jdjsj2orjNr10PQmphwah_XSBqhVJHcgG1_0VnNFNzOc8vZCJr4LQnWJ1jAOev2pqQHDhB7ThsXA==\" rel=\"nofollow noopener\" target=\"_blank\">www.hcigroup.com<\/a>.<\/p>\n<p>\n        <strong>Forward-Looking Statements<\/strong><br \/>\n        <br \/>This news release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as &#8220;anticipate,&#8221; &#8220;estimate,&#8221; &#8220;expect,&#8221; &#8220;intend,&#8221; &#8220;plan,&#8221; &#8220;confident,&#8221; &#8220;prospects&#8221; and &#8220;project&#8221; and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions, but rather are subject to various risks and uncertainties. For example, statements relating to future access to the capital markets are forward-looking statements. Some of these risks and uncertainties are identified in the company&#8217;s filings with the Securities and Exchange Commission. Should any risks or uncertainties develop into actual events, these developments could have material adverse effects on the company&#8217;s business, financial condition and results of operations. HCI Group, Inc. disclaims all obligations to update any forward-looking statements.<\/p>\n<p>\n        <strong>Company Contact:<\/strong><br \/>\n        <br \/>Bill Broomall, CFA <br \/>Investor Relations<br \/>HCI Group, Inc.<br \/>Tel (813) 776-1012<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=WzbAcZoX32TX3b9Pm-682kRoAnTzxhGbe8lpwx4TRxf50fwfBen_TV8bsuzBhiMyQJQE1w_BxFGZwTK9WmAtWkvgzAxmgpXRupHQ-H9sBr4=\" rel=\"nofollow noopener\" target=\"_blank\">wbroomall@typtap.com<\/a><\/p>\n<p>\n        <strong>Investor Relations Contact:<\/strong><br \/>\n        <br \/>Matt Glover<br \/>Gateway Group, Inc. <br \/>Tel 949-574-3860<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=xt7ZBNeIevfCxTTYDpq3DMjeMx9D9OVvMS6wcAr1wqKBTZ3NW_HxEONTaVwYYYUnQcwNo5yCL7JtsmcaVXAQRDqGqknlza8f6HT7uLGCdMs=\" rel=\"nofollow noopener\" target=\"_blank\">HCI@gatewayir.com<\/a><\/p>\n<p \/>\n      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODk0NDY2NSM1ODU5OTY5IzIwMjA4MzE=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/Y2U1NTgxNjQtNmVhMi00YzAzLWJiZmEtNTRlNzNhOWQ5ZmQ5LTEwMzI0NDg=\/tiny\/HCI-Group-Inc-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>TAMPA, Fla., Oct. 05, 2023 (GLOBE NEWSWIRE) &#8212; HCI Group, Inc. (NYSE: HCI), a holding company with operations in homeowners insurance, information technology services, real estate, and reinsurance, announced today that its subsidiary, TypTap Insurance Company, has received approval by the Florida Office of Insurance Regulation to assume up to 25,000 policies from Citizens Property Insurance Corporation, Florida\u2019s state-backed insurance company. The assumption would be under Florida\u2019s legislatively mandated depopulation program, which is designed to encourage private companies to assume policies from Citizens. \u201cTypTap has leveraged internally developed technology enabling it to grow organically in Florida. With the operating environment improving in Florida, we see an opportunity to supplement TypTap\u2019s existing business through the Citizens depopulation program,\u201d said Paresh Patel, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/hci-group-insurance-subsidiary-typtap-was-approved-to-assume-up-to-25000-policies-from-citizens-property-insurance-corporation\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;HCI Group Insurance Subsidiary TypTap Was Approved To Assume Up To 25,000 Policies From Citizens Property Insurance Corporation&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-788588","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>HCI Group Insurance Subsidiary TypTap Was Approved To Assume Up To 25,000 Policies From Citizens Property Insurance Corporation - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/hci-group-insurance-subsidiary-typtap-was-approved-to-assume-up-to-25000-policies-from-citizens-property-insurance-corporation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HCI Group Insurance Subsidiary TypTap Was Approved To Assume Up To 25,000 Policies From Citizens Property Insurance Corporation - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"TAMPA, Fla., Oct. 05, 2023 (GLOBE NEWSWIRE) &#8212; HCI Group, Inc. (NYSE: HCI), a holding company with operations in homeowners insurance, information technology services, real estate, and reinsurance, announced today that its subsidiary, TypTap Insurance Company, has received approval by the Florida Office of Insurance Regulation to assume up to 25,000 policies from Citizens Property Insurance Corporation, Florida\u2019s state-backed insurance company. The assumption would be under Florida\u2019s legislatively mandated depopulation program, which is designed to encourage private companies to assume policies from Citizens. \u201cTypTap has leveraged internally developed technology enabling it to grow organically in Florida. With the operating environment improving in Florida, we see an opportunity to supplement TypTap\u2019s existing business through the Citizens depopulation program,\u201d said Paresh Patel, &hellip; Continue reading &quot;HCI Group Insurance Subsidiary TypTap Was Approved To Assume Up To 25,000 Policies From Citizens Property Insurance Corporation&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/hci-group-insurance-subsidiary-typtap-was-approved-to-assume-up-to-25000-policies-from-citizens-property-insurance-corporation\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-05T22:39:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODk0NDY2NSM1ODU5OTY5IzIwMjA4MzE=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/hci-group-insurance-subsidiary-typtap-was-approved-to-assume-up-to-25000-policies-from-citizens-property-insurance-corporation\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/hci-group-insurance-subsidiary-typtap-was-approved-to-assume-up-to-25000-policies-from-citizens-property-insurance-corporation\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"HCI Group Insurance Subsidiary TypTap Was Approved To Assume Up To 25,000 Policies From Citizens Property Insurance Corporation\",\"datePublished\":\"2023-10-05T22:39:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/hci-group-insurance-subsidiary-typtap-was-approved-to-assume-up-to-25000-policies-from-citizens-property-insurance-corporation\\\/\"},\"wordCount\":499,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/hci-group-insurance-subsidiary-typtap-was-approved-to-assume-up-to-25000-policies-from-citizens-property-insurance-corporation\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODk0NDY2NSM1ODU5OTY5IzIwMjA4MzE=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/hci-group-insurance-subsidiary-typtap-was-approved-to-assume-up-to-25000-policies-from-citizens-property-insurance-corporation\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/hci-group-insurance-subsidiary-typtap-was-approved-to-assume-up-to-25000-policies-from-citizens-property-insurance-corporation\\\/\",\"name\":\"HCI Group Insurance Subsidiary TypTap Was Approved To Assume Up To 25,000 Policies From Citizens Property Insurance Corporation - 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(NYSE: HCI), a holding company with operations in homeowners insurance, information technology services, real estate, and reinsurance, announced today that its subsidiary, TypTap Insurance Company, has received approval by the Florida Office of Insurance Regulation to assume up to 25,000 policies from Citizens Property Insurance Corporation, Florida\u2019s state-backed insurance company. The assumption would be under Florida\u2019s legislatively mandated depopulation program, which is designed to encourage private companies to assume policies from Citizens. \u201cTypTap has leveraged internally developed technology enabling it to grow organically in Florida. With the operating environment improving in Florida, we see an opportunity to supplement TypTap\u2019s existing business through the Citizens depopulation program,\u201d said Paresh Patel, &hellip; Continue reading \"HCI Group Insurance Subsidiary TypTap Was Approved To Assume Up To 25,000 Policies From Citizens Property Insurance Corporation\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/hci-group-insurance-subsidiary-typtap-was-approved-to-assume-up-to-25000-policies-from-citizens-property-insurance-corporation\/","og_site_name":"Market Newsdesk","article_published_time":"2023-10-05T22:39:24+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODk0NDY2NSM1ODU5OTY5IzIwMjA4MzE=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/hci-group-insurance-subsidiary-typtap-was-approved-to-assume-up-to-25000-policies-from-citizens-property-insurance-corporation\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/hci-group-insurance-subsidiary-typtap-was-approved-to-assume-up-to-25000-policies-from-citizens-property-insurance-corporation\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"HCI Group Insurance Subsidiary TypTap Was Approved To Assume Up To 25,000 Policies From Citizens Property Insurance Corporation","datePublished":"2023-10-05T22:39:24+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/hci-group-insurance-subsidiary-typtap-was-approved-to-assume-up-to-25000-policies-from-citizens-property-insurance-corporation\/"},"wordCount":499,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/hci-group-insurance-subsidiary-typtap-was-approved-to-assume-up-to-25000-policies-from-citizens-property-insurance-corporation\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODk0NDY2NSM1ODU5OTY5IzIwMjA4MzE=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/hci-group-insurance-subsidiary-typtap-was-approved-to-assume-up-to-25000-policies-from-citizens-property-insurance-corporation\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/hci-group-insurance-subsidiary-typtap-was-approved-to-assume-up-to-25000-policies-from-citizens-property-insurance-corporation\/","name":"HCI Group Insurance Subsidiary TypTap Was Approved To Assume Up To 25,000 Policies From Citizens Property Insurance Corporation - 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