HCI Group — Second Quarter 2026 Earnings Summary

Financial Performance

• Reported pre-tax income of $111 million for Q2 2026, up from $94 million in Q2 2025; net income was $83 million compared to $70 million in the prior year period.
• Net income after noncontrolling interests reached $74 million in Q2 2026 versus $66 million in Q2 2025.
• Diluted earnings per share (EPS) were $5.60 in Q2 2026, an increase from $5.18 in Q2 2025.
• Gross premiums earned totaled $321 million in Q2 2026, a 6% increase from $303 million in Q2 2025, driven by higher policy volume.
• Net premiums earned were $219 million in Q2 2026 compared to $200 million in Q2 2025.
• Gross loss and loss adjustment expense ratio was 22.2% in Q2 2026, compared to 21.3% in Q2 2025.
• Net investment income was $19 million in Q2 2026, up from $16 million in Q2 2025, driven by growth in invested assets.
• Other revenue increased to $5 million in Q2 2026 from $3 million in Q2 2025.
• For the six months ended June 30, 2026, pre-tax income was $226 million versus $195 million in the prior year; net income was $168 million versus $145 million.
• Six-month diluted EPS was $11.05 for the period ended June 30, 2026, compared to $10.57 in the prior year.
• Gross premiums earned for the first six months of 2026 were $647 million, a 7% increase from $603 million in the prior year.
• Gross loss and loss adjustment expense ratio for the six months ended June 30, 2026, was 21.1%.
• Total assets were $2.65 billion as of June 30, 2026, up from $2.53 billion as of December 31, 2025.
• Total liabilities were $1.47 billion as of June 30, 2026, compared to $1.41 billion as of December 31, 2025.
• Total stockholders' equity was $1.08 billion as of June 30, 2026, compared to $1.04 billion as of December 31, 2025.
• Book value per share was $86.60 at the end of Q2 2026, up from $58.55 in Q2 2025.
• Dividends per share were $0.40 in Q2 2026, consistent with Q2 2025; total dividends for the first six months were $0.80 per share.

Business Segments and Product Lines

• Gross premiums earned by Homeowners Choice were $161.9 million in Q2 2026 compared to $156.6 million in Q2 2025.
• TypTap Insurance Company earned $123.3 million in gross premiums in Q2 2026 versus $124.4 million in Q2 2025.
• Condo Owners Reciprocal Exchange earned $5.9 million in gross premiums in Q2 2026 compared to $12.8 million in Q2 2025.
• Tailrow Insurance Exchange earned $29.7 million in gross premiums in Q2 2026 compared to $8.8 million in Q2 2025.
• Other revenue growth was primarily driven by the addition of new insurance carrier customers to the Exzeo insurance technology platform.
• The company operates in 13 states with a portfolio including property and casualty underwriters, captive reinsurers, a claims management business, a commercial real estate investment company, and Exzeo Group.

Other Key Points

• A share repurchase program announced on March 3, 2026, to repurchase up to $80 million of common stock through February 27, 2027, was completed on July 17, 2026.
• Total shares repurchased under the completed program were 504,330 for $80.0 million.
• In Q2 2026 alone, the company repurchased 363,538 shares for $57.0 million.
• During the first six months of 2026, the company repurchased 473,609 shares for $74.5 million.
• New 2026-2027 catastrophe reinsurance programs began on June 1, 2026, resulting in lower reinsurance costs in Q2 2026.
• General and administrative personnel expenses increased to $24 million in Q2 2026 from $20 million in Q2 2025 due to additional personnel, merit increases, and stock-based compensation.
• The company's common shares trade on the NYSE under "HCI" and are included in the Russell 2000 and S&P SmallCap 600 Index.
• Exzeo's common shares trade on the NYSE under the ticker symbol "XZO".