Tailrow Reciprocal Exchange, an HCI Group Sponsored Insurer, Assumes Just Under 14,000 Policies from Citizens, Representing Approximately $35 Million in Premium

Core Insights - HCI Group, Inc. announced that Tailrow Insurance Exchange has successfully assumed nearly 14,000 policies from Citizens Property Insurance Corporation, representing approximately $35 million in in-force premium [1][3]. Company Operations - Tailrow Insurance Exchange is a reciprocal insurer sponsored by HCI, focusing on personal residential policies [1]. - The company was approved for 20,000 policies, made around 18,000 offers, and achieved a 76% acceptance rate for the policies assumed [3]. Management Commentary - HCI's CEO, Paresh Patel, expressed excitement about the successful assumption and highlighted the technology and management expertise that facilitated the identification of attractive policies [2]. Company Structure - HCI Group, Inc. operates in various sectors including homeowners insurance, information technology services, real estate, and reinsurance [5]. - The company's leading insurance operation, TypTap Insurance Company, is technology-driven and supported by HCI's software subsidiary, Exzeo USA, Inc. [5]. Market Presence - HCI Group's common shares are traded on the New York Stock Exchange under the ticker symbol "HCI" and are included in the Russell 2000 and S&P SmallCap 600 Index [6].