HCI Group

What HCI Group does

HCI Group is a publicly traded holding company (NYSE: HCI), founded in 2006 and headquartered in Tampa, Florida, that operates across four verticals: insurance, technology solutions (Exzeo), reinsurance, and real estate. Its core insurance subsidiaries — Homeowners Choice, TypTap, Tailrow, and CORE — write homeowners and commercial residential property insurance, with TypTap offering coverage across 13 states using Exzeo's technology platform. The company generated Q1 2026 revenue of $242 million (versus $216 million in Q1 2025), with Q4 2025 revenue of $246.2 million representing 52.1% year-over-year growth, and holds a portfolio of policies exceeding $1 billion in premium. HCI retains approximately 18% insider ownership and has returned over $430 million to shareholders across 18+ years of operation, posting a combined ratio under 45% for full-year 2025.

HCI's proprietary technology stack, built and operated by subsidiary Exzeo, manages end-to-end insurance operations including policy administration, underwriting algorithms, and data analytics, supporting more than $1.2 billion in premiums across the group and external P&C carrier clients. Exzeo completed its IPO on NYSE in Q4 2025 at a $1.91 billion valuation (raising $168 million, with $155 million in net proceeds), and HCI retained an approximately 82% stake worth roughly $1.2 billion. Reinsurance operations are conducted through Claddaugh (Bermuda class 3A) and Fortex Reinsurance (Cayman Islands), with Fortex's participation in catastrophe excess-of-loss programs tokenized through a June 2026 pilot on the Solana blockchain via SurancePlus (an Oxbridge Re Holdings subsidiary) and Alphaledger. A VIRA Audit Bot extends Exzeo's AI-based capabilities to remittance audits for property and casualty insurers.

HCI's business model blends recurring insurance premiums, technology licensing through Exzeo, reinsurance capital management (Fortex and Claddaugh), and commercial real estate income (Greenleaf Capital), with claims handling provided internally through Griston. The company primarily serves Florida homeowners and property owners (representing approximately 90% of gross premiums earned), independent insurance agents in 13 states via TypTap, commercial property owners through CORE, and qualified accredited investors via the tokenized reinsurance securities offering. Distribution blends direct carrier operations, independent agent networks, reciprocal exchanges owned by policyholders, and Exzeo's white-label technology licensing; the 2026-2027 catastrophe reinsurance program secured $4.06 billion in aggregate excess-of-loss coverage (16% larger than the prior treaty year) at a 10% reduction in net ceded premium.

Name

HCI Group

Legal name

HCI Group, Inc.

Website

https://hcigroup.com

Company type

Public

Founded year

2006

Operating status

Operating

Headcount range

501–1,000 employees

Short description

HCI Group is a publicly traded holding company that operates insurance carriers (Homeowners Choice, TypTap, Tailrow, CORE), technology solutions (Exzeo), reinsurance subsidiaries (Claddaugh, Fortex), and real estate (Greenleaf Capital), primarily serving Florida homeowners and independent insurance agents across 13 U.S. states.

Ownership category

akta.pro rank

Product category

Property and Casualty Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Reinsurance Carriers (524130), Insurance Carriers (5241)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399)

akta.pro primary industry

Catastrophe Excess-of-Loss (XoL) Reinsurance (FSAOACAH)

Keywords

• Homeowners insurance
• Property reinsurance
• Insurance technology solutions
• Catastrophe excess-of-loss
• Residential property insurance

Headquarters

HQ city

Tampa

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Supply Chain, Infrastructure

Revenue model

1. Insurance Premiums: HCI Group owns and operates multiple insurance carriers (Homeowners Choice, TypTap, Tailrow, CORE) writing homeowners insurance and commercial residential insurance. Revenue generated from policy premiums across Florida and 13 states.
2. Technology Solutions (Exzeo): Proprietary technology platform providing underwriting algorithms, data analytics, and insurance management solutions to property and casualty insurers. Exzeo completed IPO in Q4 2025, raising $168M; HCI retains majority stake (~82%) worth approximately $1.2B.
3. Reinsurance: Wholly owned reinsurer (Fortex Reinsurance SPC in Cayman Islands, Claddaugh in Bermuda) that assists HCI in managing reinsurance cycles and provides collateralized reinsurance capacity. Also partners with SurancePlus for tokenized reinsurance securities.
4. Real Estate: Greenleaf Capital owns and operates commercial properties in Florida for investment purposes and internal operations.
5. Claims Adjusting Services: Griston provides full-service claims adjusting organization specializing in end-to-end claims management and field adjusting services for policyholders and carrier clients.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels4 records

Core offering

HCI Group owns and operates insurance carriers (Homeowners Choice, TypTap, Tailrow Insurance Exchange, CORE Reciprocal) that underwrite homeowners, fire, flood, wind-only, and commercial residential property insurance — primarily in Florida and across 13 states via TypTap. The company also owns Exzeo, a proprietary insurance technology platform providing underwriting algorithms, data analytics, and policy administration solutions to property and casualty insurers. Reinsurance is written through wholly owned Claddaugh (Bermuda) and Fortex Re (Cayman Islands), and a tokenized reinsurance securities pilot exposes qualified investors to catastrophe excess-of-loss participations via the SurancePlus/Alphaledger platform on the Solana blockchain.

Product overview

HCI Group is a diversified holding company operating a portfolio of complementary business verticals. The core insurance operations include Homeowners Choice, TypTap Insurance, Tailrow Insurance Exchange, and CORE Reciprocal Insurance Exchange, which collectively provide homeowners and residential property insurance primarily in Florida and across 13 states. The technology division Exzeo provides proprietary end-to-end insurance technology solutions including underwriting algorithms and data analytics. Reinsurance operations include Claddaugh (Bermuda) and Fortex Reinsurance (Cayman Islands). The real estate division Greenleaf Capital owns commercial properties in Florida. Griston provides claims adjusting services. The company completed Exzeo's IPO in October 2025 and launched a tokenized reinsurance securities pilot in June 2026.

Differentiator

Problem solved

Functional benefit

Brands

• Homeowners Choice: Residential insurance products including homeowners, fire, flood and wind-only insurance
• TypTap
• Exzeo
• Griston
• Tailrow

Products and services

• Homeowners Choice Property & Casualty Insurance Residential property insurance carrier writing homeowners, fire, flood, and wind-only policies for properties primarily in Florida, sold through direct carrier operations and agent relationships.
• TypTap Insurance Company Homeowners and flood insurance insurtech operating across 13 U.S. states, leveraging the Exzeo technology platform to give independent agents a seamless quote-and-bind process.
• Tailrow Insurance Exchange Reciprocal admitted insurance exchange owned by its policyholders and sponsored by HCI, offering personal residential policies in Florida.
• CORE Reciprocal Insurance Exchange HCI-sponsored reciprocal insurance exchange offering commercial residential and homeowners insurance products in Florida; owned by its policyholders with HCI managing operations.
• Exzeo Insurance Technology Platform End-to-end insurance technology platform providing advanced underwriting algorithms, data analytics, and insurance management solutions to property and casualty insurers; powers HCI's own carriers and is licensed to third-party insurers supporting $1.2B+ in premiums across 13 states.
• Griston Claims Adjusting Full-service claims adjusting organization providing end-to-end claims management and field adjusting services for HCI policyholders and external carrier clients.
• Claddaugh Reinsurance Bermuda-based Class 3A reinsurer that writes reinsurance on a fully collateralized basis to assist HCI in managing reinsurance cycles.
• Greenleaf Capital Real Estate Real estate division that owns, manages, and develops commercial properties in Florida for investment purposes and to support HCI's internal operations.
• Tokenized Reinsurance Securities (HCI Re 2026 Series A, B, C) Three tokenized reinsurance securities (Series A at $11.10/token, Series B at $22.12/token, Series C at $30.01/token) issued on the Solana blockchain via Alphaledger, offering qualified accredited investors synthetic exposure to Fortex Re's catastrophe excess-of-loss reinsurance program with stated target annualized returns.
• VIRA Audit Bot AI-driven audit engine built by Exzeo that automates remittance audits within the insurance industry, improving audit accuracy, reducing manual effort, and providing real-time visibility into discrepancies.

Quantifiable outcome

• Combined ratio under 45%
• +9 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature5 records

Partnerships

Three partnerships are on record, tiered core.

• SurancePlus (Oxbridge Re Holdings Subsidiary)coreStrategic or Co-development Partner · 10 June 2026SurancePlus, a subsidiary of Oxbridge Re Holdings, partnered with HCI Group to launch three tokenized reinsurance securities (HCI Re 2026 Series A, B, C) on the Solana blockchain via Alphaledger platform. The securities mirror specific participations by HCI's Fortex Re subsidiary in catastrophe XOL reinsurance programs. Offering expected to add approximately $12 million in restricted assets to SurancePlus's balance sheet. Minimum investment of $5,000 for qualified U.S. accredited investors under Regulation D and Regulation S.
• Reinsurers (Arch Re, Chubb Tempest Re, Endurance, Markel Bermuda, Renaissance Re, Swiss Re, Transatlantic Re)coreOthers · 1 June 2026HCI Group's 2026-2027 catastrophe reinsurance program involves multiple private reinsurers rated at least A- by AM Best, providing $4.06 billion aggregate XOL limit across three towers. Net consolidated reinsurance premiums of $381.2 million ceded to third parties, 10% reduction from prior period. Coverage spans Homeowners Choice, TypTap, Tailrow and CORE for Florida operations and TypTap's nationwide policies.
• Citizens Property Insurance CorporationcoreOthersHCI Group has assumed over 60,000 policies from Citizens Property Insurance Corporation in 2025 representing approximately $175 million in in-force premium. This policy assumption arrangement enables HCI to expand its insurance portfolio while Citizens transfers risk from its Citizens' account. The company plans to continue assuming policies as part of its growth strategy.

Scale indicators35 records

Recent moves12 records

Expansion highlights7 records

Direct peers

• Universal Insurance Holdings: NYSE-listed (UVE) Florida-headquartered personal property insurer writing homeowners and dwelling fire coverage heavily concentrated in Florida. Closest direct peer given overlapping geographic concentration, distribution model, and reinsurance reliance.
• Heritage Insurance Holdings: NYSE-listed (HRTG) personal and commercial residential property insurer with significant Florida exposure. Competes directly with HCI's Homeowners Choice, Tailrow and CORE subsidiaries for Florida homeowners policies and Citizens takeouts.
• Tower Hill Insurance Group: Florida-focused personal lines property insurer writing homeowners insurance. Operates a reciprocal exchange structure similar to HCI's Tailrow and CORE subsidiaries and competes in the same Florida distribution channels.
• Florida Peninsula Insurance Company: Florida-domiciled homeowners insurer affiliated with FedNat Holding. Competes directly with HCI for Florida homeowners policies and has historically been one of the takeout counterparties for Citizens policies alongside HCI.
• Oxbridge Re Holdings: Bermuda-based reinsurer and parent of SurancePlus; HCI's actual partner on the tokenized reinsurance securities. Direct comparable given shared reinsurance focus and identical catastrophe XOL-linked digital securities strategy.

Broad incumbents

• RenaissanceRe Holdings: NYSE-listed (RNR) global specialty reinsurer and a participating reinsurer in HCI's 2026-2027 program. Comparable as a scaled catastrophe and property reinsurance incumbent that sets reinsurance pricing dynamics affecting HCI's cost of risk.
• Allstate: NYSE-listed broad P&C insurer with large homeowners book and the National General brand in catastrophe-exposed states. Sets competitive dynamics in the homeowners market where TypTap competes and provides an incumbent benchmark for combined-ratio performance.

Emerging players

• Hippo Insurance: InsurTech homeowners insurer using technology-led underwriting and direct distribution. Comparable to HCI's TypTap subsidiary given both target homeowners with technology-enabled underwriting, though Hippo focuses on newer/renovation homes and a broader US footprint.
• Lemonade: NYSE-listed (LMND) AI-driven InsurTech writing homeowners and renters insurance. Comparable to TypTap as a technology-native homeowners carrier, though Lemonade targets direct-to-consumer while TypTap distributes through independent agents.

Others

• Citizens Property Insurance Corporation: Florida's state-created residual-market insurer and HCI's primary counterparty for recent policy takeouts. Not a commercial competitor but the dominant source of HCI's recent inorganic growth and a structural counterparty whose strategy materially affects HCI's expansion path.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries9 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HCI Group