HCI Group, Inc. reported a strong first quarter for 2025, with pre-tax income reaching $100.3 million and diluted earnings per share of $5.35. This represents a significant increase from $3.81 diluted EPS in the first quarter of 2024, demonstrating robust financial performance.
Consolidated gross premiums earned grew by 17.0% to $300.4 million, primarily driven by policy assumptions from Citizens Property Insurance Corporation. The gross loss ratio dramatically improved to 19.7% in Q1 2025, down from 31.1% in Q1 2024, attributed to a decline in claims and litigation frequency.
In a major strategic announcement, HCI Group's Board of Directors determined to pursue a potential tax-free spin-off of its Exzeo technology segment to existing HCI shareholders. This separation is targeted for completion by the end of the year, with management stating that Exzeo is ready to operate as a standalone company.
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