TAMPA, Fla., Jan. 22, 2021 (World NEWSWIRE) — HCI Group, Inc. (NYSE: HCI), an InsurTech corporation with operations in insurance coverage, software package advancement and real estate, has entered into a renewal rights agreement, dated January 18, 2021, with United Insurance policy Keeping Corp. (NASDAQ: UIHC) pursuant to which United is to transition to HCI all its personal strains insurance organization in the states of Connecticut, New Jersey, Massachusetts and Rhode Island.
“We’re excited to enter into this agreement with United,” explained HCI Group Chairman and Main Government Officer Paresh Patel. “When totally consummated, these transactions will speed up our strategic strategy to develop nationally. We will get not only a seasoned e-book of small business, but also an founded agent community and significant underlying info.”
About HCI Team, Inc.
HCI Team, Inc. is an InsurTech company with functions in insurance coverage, program growth and real estate. HCI’s leading insurance coverage operation, TypTap Insurance Company, is a rapidly rising, technology-pushed insurance firm, which delivers home owners insurance plan and flood coverage in Florida. TypTap’s operations are powered in large element by insurance-linked facts engineering made by HCI’s software subsidiary, Exzeo United states of america, Inc. HCI’s major subsidiary, Householders Choice Home & Casualty Insurance policies Corporation, Inc., presents homeowners’ insurance mostly in Florida. HCI’s true estate subsidiary, Greenleaf Capital, LLC, owns and operates several properties in Florida, which include office environment buildings, retail centers and marinas.
The company’s typical shares trade on the New York Stock Trade underneath the ticker image “HCI” and are provided in the Russell 2000 and S&P SmallCap 600 Index. HCI Group, Inc. often publishes financial and other details in the Investor Details area of the company’s web-site. For extra information and facts about HCI Group and its subsidiaries, visit www.hcigroup.com.
This information launch may well have ahead-seeking statements built pursuant to the Non-public Securities Litigation Reform Act of 1995. Phrases these as “foresee,” “estimate,” “expect,” “intend,” “system,” “assured,” “prospective buyers” and “task” and other very similar terms and expressions are intended to signify forward-hunting statements. Ahead-wanting statements are not guarantees of potential results and problems, but rather are subject matter to various dangers and uncertainties. For illustration, there can be no assurance that insurance policies regulators will allow HCI to work in the relevant states and approve the proposed terms of the transaction. Even more, there can be no assurance the transitioned enterprise will be rewarding. Some of these threats and uncertainties are discovered in the firm’s filings with the Securities and Exchange Commission. Really should any risks or uncertainties build into actual activities, these developments could have product adverse outcomes on the proposed transaction and HCI’s enterprise, financial affliction, and results of operations. HCI Group, Inc. disclaims all obligations to update any ahead-wanting statements.
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HCI Team, Inc.
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