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Stock impact report

HCI Group Completes its 2018-2019 CAT Reinsurance Program, Reduces Risk Retention

HCI Group, Inc. (HCI) 
Last hci group, inc. earnings: 3/5 04:15 pm Check Earnings Report
US:NYSE Investor Relations: hcigroup.com
Company Research Source: GlobeNewswire
TAMPA, Fla., June 06, 2018 (GLOBE NEWSWIRE) -- HCI Group, Inc. (NYSE:HCI), a leading provider of property and casualty insurance in Florida, has completed its catastrophic reinsurance program for the 2018-2019 contract year, which runs from June 1, 2018 through May 31, 2019. Reinsurance Structure HCI purchases insurance called reinsurance from other insurance companies and institutions to cover policyholder losses associated with hurricanes and other catastrophes. The 2018-2019 reinsurance program provides coverage up to $888 million for catastrophic losses in a single event, excluding flood losses, which according to catastrophe models approved by the Florida Office of Insurance Regulation is sufficient to cover the company’s probable maximum loss resulting from a 1 in 191-year storm based o Show less Read more
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