HCI Group ceded premiums up 33% to $70.5mn in Q1
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HCI Group ceded premiums up 33% to $70.5mn in Q1

HCI Group logo Tampa Florida.jpg

HCI Group increased premiums ceded for reinsurance by 33% to $70.5mn in Q1, from $53.2mn in the prior-year quarter, equating to 39.2% and 29.7% of gross premiums earned, respectively, the firm reported.

On its Q1 earnings call, CFO James Harmsworth said the company was already seeing benefits from the legal reforms in Florida, in the form of fewer lawsuits and declining claims frequency.

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