HCI Group Revamps Operating Structure and Introduces Exzeo Group Inc.

TAMPA, Fla., March 03, 2025 (GLOBE NEWSWIRE) -- HCI Group, Inc. $(HCI)$ announced today a streamlined organizational structure to better align the long-term potential of the company. HCI will be organized into two distinct operating units, with each unit having defined management teams and operational objectives.

"Each operating unit is financially strong, and we believe this new structure will enable both to pursue their growth and profitability objectives more effectively," said Paresh Patel, HCI's chairman and chief executive officer. "Our technology has a proven track record of delivering solid underwriting results and we believe this streamlined organizational structure will unlock additional growth opportunities."

The company's first operating unit comprises four insurance companies: Homeowners Choice Property & Casualty Insurance Company, TypTap Insurance Company, Condo Owners Reciprocal Exchange, and Tailrow Insurance Exchange. Additionally, this unit includes Griston, HCI's claims management division; Claddaugh, HCI's wholly owned reinsurer; and Greenleaf Capital, HCI's real estate division.

The second operating unit includes our market-leading technology platform, supported by the company's technology and data analytics teams. This unit will focus on being a leading innovator of end-to-end technology powered solutions for the property and casualty insurance industry. Formerly known as TypTap Insurance Group this unit is now called Exzeo Group Inc., which HCI believes better reflects the unit's technology focus.

About HCI Group, Inc.

HCI Group is a holding company with two distinct operating units. The first unit includes four top-performing insurance companies, a captive reinsurance company, and operations in claims management and real estate. The second unit, called Exzeo Group, is a leading innovator of insurance technology that utilizes advanced underwriting algorithms and data analytics. Exzeo empowers property and casualty insurers to transform underwriting outcomes and achieve industry-leading results.

The company's common shares trade on the New York Stock Exchange under the ticker symbol "HCI" and are included in the Russell 2000 and S&P SmallCap 600 Index. HCI Group, Inc. regularly publishes financial and other information in the Investor Information section of the company's website. For more information about HCI Group and its subsidiaries, visit www.hcigroup.com.

Company Contact:

Bill Broomall, CFA

Investor Relations

HCI Group, Inc.

Tel (813) 776-1012

wbroomall@typtap.com

Investor Relations Contact:

Matt Glover

Gateway Group, Inc.

Tel 949-574-3860

HCI@gateway-grp.com

(END) Dow Jones Newswires

March 03, 2025 08:00 ET (13:00 GMT)