Key Highlights

  • Diluted EPS was USD 6.45 against an estimate of USD 4.96 and USD 4.90 in the third quarter of 2025.
  • Total Revenue was USD 244.91 million against an estimate of USD 247.75 million, and USD 216.35 million a year earlier.
  • The gross loss ratio was 20.7% compared with 22.0% in the prior-year quarter, with pre-tax income of USD 116.29 million.
  • The USD 80 million share repurchase program was completed on July 17, 2026, after 504,330 shares were bought.

HCI Group, Inc. (NYSE:HCI) completed its USD 80 million share repurchase program on July 17, 2026, and its 2026-2027 catastrophe Reinsurance programs began on June 1, 2026. Diluted EPS was USD 6.45 against an estimate of USD 4.96, compared with USD 4.90 a year earlier. Total revenue was USD 244.91 million against an estimate of USD 247.75 million. Net Income was USD 86 million, and USD 83 million after noncontrolling interests.

Reinsurance Costs and the Buyback Within the Quarter

Premiums ceded for reinsurance were USD 97 million against USD 106 million a year earlier, a change the company linked to lower costs under the new catastrophe programs. In the third quarter the company bought 30,721 shares for USD 6 million before the program closed. Across the full program it repurchased 504,330 shares for USD 80 million, and the original authorization ran through February 27, 2027. Shares outstanding were 12,437,958 at September 30, against 12,959,362 a year earlier.

The chairman and chief executive, Paresh Patel, said Earnings accelerated because greater Operating Leverage combined with modest premium growth, and that internal operating decisions can matter as much as external market conditions.

Premiums, Losses and Expenses

Gross premiums earned were USD 316 million against USD 301 million, an increase of 5% that the company attributed to a higher Volume of policies in force, with average premium per policy relatively consistent. Net premiums earned were USD 219.1 million against USD 195.0 million. Gross Written Premiums were USD 353.1 million against USD 315.2 million, with Homeowners Choice at USD 185.4 million, TypTap Insurance Company at USD 107.4 million, Condo Owners Reciprocal Exchange at USD 24.9 million and Tailrow Reciprocal Exchange at USD 35.4 million.

Losses and loss adjustment expenses were USD 65 million against USD 66 million and included a small amount of prior year development. Policy Acquisition and other Underwriting expenses were USD 32 million in both periods. General and administrative personnel expenses were USD 24 million against USD 21 million, which the company tied to added personnel, annual merit increases and stock-based compensation. Net Investment income was USD 22 million against USD 18 million on growth in invested assets.

Nine-Month Results, Balance Sheet and Dividends

For the nine months, diluted EPS was USD 17.48 against USD 15.47, and pre-tax income was USD 343 million against USD 285 million. The nine-month gross loss ratio was 21.0% in both years.

Total investments were USD 1,424.4 million at September 30, against USD 789.7 million at December 31, 2025, while cash and cash equivalents were USD 743.5 million against USD 1,210.1 million. Total stockholders' Equity was USD 1,121.3 million, and Book Value per share was USD 90.15 against USD 63.41 a year earlier. The revolving Credit Facility stood at USD 36.0 million and long-term Debt at USD 31.3 million. The Dividend was USD 0.40 per share for the quarter.

Reference Points for Investors

Diluted EPS of USD 6.45 sits alongside a 20.7% gross loss ratio and book value per share of USD 90.15. Gross premiums earned of USD 316 million sit beside premiums ceded of USD 97 million.

The dated items the company named were June 1, 2026, when the 2026-2027 catastrophe reinsurance programs began, and July 17, 2026, when the USD 80 million repurchase program was completed. The company also noted that future Cash Flow and earnings may limit its ability or willingness to engage in share buybacks.