HCI Group Reports $85M in Profit for Q1, with Premium Growth for Most Subsidiaries

Tampa-based HCI Group, now in its 20^th year and its 18^th year as a publicly traded company, reported a healthy profit for the first quarter of 2026 and significant growth in premium across most of its property-casualty insurance firms.

“HCI Group had an excellent start to 2026, delivering record first quarter results for earned premiums, net income and earnings per share,” HCI Group Chairman and CEO Paresh Patel said in a filing with the U.S. Securities and Exchange Commission.

The group reported net income of $85 million for Q1. That’s down significantly from the $108 million for Q4 2025 but up from the first quarter of 2025.

HCI reported modest to strong first-quarter growth in gross premiums earned for three of its insurance carriers: Homeowners Choice, TypTap Insurance, and Tailrow Insurance Exchange. A fourth insurer, Condo Owners Reciprocal Exchange, saw gross premium earned drop sharply from Q1 2025. It was the second straight quarterly drop in premium for the condo insurer, also known as CORE.

HCI did not report quarterly numbers for policies in force at the subsidiaries. But for the year 2025, overall policy count for the group grew considerably, from 271,300 at the end of 2024, to 313,400 by year-end 2025, an annual filing shows.

Losses and loss-adjustment expenses for the group rose slightly from Q1 2025 to 2026.

The Q1 earnings report noted that HCI in March 2026 announced a share repurchase program of as much as $80 million, to last through February 2027. As of April 30 this year, HCI Group had repurchased 239,435 shares for $37.5 million.

“Moving forward, we plan to continue using our earnings to buy back stock while strengthening our balance sheet as we prepare for the next transformational opportunity,” Patel said.

The Q1 SEC filing can be seen here.

Photo: HCI headquarters building.