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# HCI Group Third-Quarter Profit Climbs To $6.45 A Share As Reinsurance Bill Shrinks
- URL: https://www.bullished.co/hci-group-third-quarter-profit-climbs-to-6-45-a-share-as-reinsurance-bill-shrinks-301f312d/
- Published: 2026-11-04T21:37:26.000Z
- Updated: 2026-11-04T21:37:26.000Z
- Description: The Florida homeowners insurer cut reinsurance spending to $97 million and held claims flat, lifting pre-tax income to $116 million.
- Author: Matteo Parrino
- Tags: Earnings, HCI, Industry: Financials

HCI Group, a Tampa-based insurer that sells homeowners coverage mainly in Florida, said Wednesday its third-quarter [pre-tax income rose to $116 million](https://www.sec.gov/Archives/edgar/data/0001400810/000119312526447353/hci-ex99%5F1.htm?ref=bullished.co), from $91 million a year earlier. Diluted earnings per share reached $6.45, against $4.90, as cheaper reinsurance and steady claims costs left more premium to fall to profit.

## Cheaper reinsurance, steady claims

Net income was [$86 million](https://www.globenewswire.com/news-release/2026/11/04/3395870/12000/en/hci-group-reports-third-quarter-2026-results.html?ref=bullished.co), or $83 million after noncontrolling interests, compared with $68 million and $66 million in the third quarter of 2025.

Gross premiums earned rose 5% to [$316 million](https://www.globenewswire.com/news-release/2026/11/04/3395870/12000/en/hci-group-reports-third-quarter-2026-results.html?ref=bullished.co) from $301 million, which the company said came from more policies in force, with average premium per policy little changed. Premiums ceded to reinsurers fell to $97 million from $106 million, a drop the company attributed to lower costs on its 2026-2027 catastrophe reinsurance programs, which began June 1, 2026.

Losses and loss adjustment expenses were $65 million, versus $66 million a year earlier, and the gross loss ratio (claims costs as a share of premiums) improved to 20.7% from 22.0%. Net investment income climbed to $22 million from $18 million on growth in invested assets. Personnel expenses rose to $24 million from $21 million on added staff, merit raises and stock-based pay.

## Nine-month totals and book value

For the first nine months, pre-tax income was $343 million versus $285 million, and diluted earnings per share were $17.48 versus $15.47\. Gross premiums earned for the period rose 7% to $963 million, and the nine-month gross loss ratio was 21.0% in both years.

Book value per share ended September at $90.15, compared with $63.41 a year earlier. Shares outstanding fell to 12,437,958 from 12,959,362.

"Earnings accelerated this quarter as greater operating leverage combined with modest premium growth to drive more profit to the bottom line," said Chairman and CEO Paresh Patel.

## An $80 million buyback, finished

HCI completed its $80 million share repurchase program on July 17, 2026, having bought back 504,330 shares in total. In the third quarter it repurchased 30,721 shares for $6 million. The program, announced March 3, 2026, had been authorized through February 27, 2027.

HCI also owns Exzeo, an insurance software and analytics business, and manages policyholder-owned exchanges, alongside a real estate arm. Management hosts its earnings call at 4:45 p.m. Eastern on Wednesday.

Patel framed the quarter as proof that "internal operating decisions can be as important as external market conditions."

Learn

- [Item 2.02: results of operations →](https://www.bullished.co/learn/8-k-items-explained/#item-202-results-of-operations)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — HCI Group, Inc. (HCI)](https://www.sec.gov/Archives/edgar/data/0001400810/000119312526447353/hci-20261104.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit hci-ex99\_1.htm — HCI Group, Inc. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001400810/000119312526447353/hci-ex99%5F1.htm?ref=bullished.co) — SEC EDGAR
- [Should You Buy, Sell or Hold Heritage Insurance Stock Post Q3 Earnings?](https://finance.yahoo.com/markets/stocks/articles/buy-sell-hold-heritage-insurance-164900703.html?ref=bullished.co) — Yahoo Finance
- [HCI Group Reports Third Quarter 2026 Results](https://www.globenewswire.com/news-release/2026/11/04/3395870/12000/en/hci-group-reports-third-quarter-2026-results.html?ref=bullished.co) — globenewswire.com