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United States

Profile: HCI Group Inc (HCIIP.PK)

HCIIP.PK on OTC Markets Group

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24 Apr 2014
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HCI Group, Inc. (HCI), incorporated on November 30, 2006, is a holding company. The Company is engaged in providing property and casualty insurance to homeowners, condominium owners, and tenants in the state of Florida through its subsidiaries. The Company operates through property and casualty insurance operations segment. The Company's operations include Insurance Operations and Other Operations. The Company's Insurance Operations include property and casualty insurance, and reinsurance. HCI's Other Operations include information technology (IT) and real estate.

Insurance Operations

The Company, through its subsidiary, Homeowners Choice Property & Casualty Insurance Company, Inc. (HCPCI), provides property and casualty insurance to homeowners, condominium owners and tenants residing in Florida. HCPCI's operations are supported by certain of HCI's subsidiaries, as well as the Company. Its subsidiary, Homeowners Choice Managers, Inc., acts as managing general agent and provides marketing, underwriting, claims settlement, accounting and financial services to HCPCI. Its subsidiary, Southern Administration, Inc., provides policy administration services to HCPCI. The Company manages its reinsurance business through its Bermuda domiciled subsidiary, Claddaugh Casualty Insurance Company Ltd.

Other Operations

The Company's real estate operations consist of properties it owns, operations located at those owned properties and investments in approximately three commercial development projects, two of which are at its own properties and managed through joint ventures. The Company's owned real estate used in operations consists of the headquarters building in Tampa, Florida and its secondary insurance operations site in Ocala, Florida. The Company's investment properties consist of a combined waterfront and land, and include a restaurant and over two marinas. The combined marina facilities offer a dry-stack boat storage facility with capacity for approximately 310 boats, 60 wet slips, two fuel facilities, and open areas for parking and storage. The Company has a real estate development and construction project, in which its involvement is through an acquisition, development and construction loan arrangement. It has over two real estate development projects through joint venture arrangements. The Company also owns investment real estate in Treasure Island, Tierra Verde, Riverview and Sorrento in Florida. It has leased properties in Noida, India, and Miami, Florida.

The Company's IT operations, which are in India and Tampa, Florida, are focused on developing cloud-based products or services that can be marketed to the public in addition to providing affiliates with back-office technology support services. Some of the technologies originally developed in-house for its own insurance operations include Exzeo, a cloud application available at Exzeo.com that provides automation and intelligence across multiple business processes; Proplet, a Web-based tool, which provides property's insurance-related information, such as wind mitigation reports, inspection reports, claims activity reports or flood zone areas by name, address or by dropping a pin on a specific location on a map interface, and Atlas Viewer, a cloud-based data mapping and visualization platform. Atlas Viewer allows users to upload, view and securely share data feeds on a customized map. Atlas Viewer allows users to combine data from multiple sources and leverage location coordinates to make more informed business decisions. Atlas Viewer is offered as a subscription-based service.

Company Address

HCI Group Inc

5300 W Cypress St Ste 100
TAMPA   FL   33607-1712
P: +1813.8499500
F: +1813.8650174

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