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Stock impact report

HCI Group Insurance Subsidiary Enters into Policy Replacement Agreement with Anchor Property & Casualty Insurance Company

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., Feb. 14, 2020 (GLOBE NEWSWIRE) -- HCI Group, Inc. (NYSE: HCI) announced today that its wholly owned insurance subsidiary, Homeowners Choice Property & Casualty Insurance Company, Inc., has entered into a definitive policy replacement agreement with Anchor Property & Casualty Insurance Company under which Anchor will cancel all its policies as of April 1, 2020 and Homeowners Choice will offer to those policyholders short-term replacement policies having substantially the same terms and rates as the cancelled policies and expiring the same dates the cancelled policies would have expired had they not been cancelled. Anchor’s policyholders will be under no obligation to accept the replacement policies. Anchor will retain liability for policyholder claims arising from events occurring on or before March 31, 2020. Upon expiration of the replacement policies, Homeowners Choice will offer renewals to the policyholders at its own rates and terms. The agreement contains no purcha Show less Read more
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