HCI Group is a Florida-focused homeowners and property & casualty insurance company. Through its two primary insurance subsidiaries, Homeowners Choice Property & Casualty and TypTap Insurance, HCI writes homeowners policies predominantly in Florida, with a smaller presence in other southeast and northeast states. HCI sells through independent agents and also grows its policy book by assuming policies from Citizens Property Insurance Corporation, Florida's state-backed insurer of last resort, through a legislatively mandated depopulation program. HCI uses its proprietary technology to selectively identify which Citizens policies to assume based on expected underwriting profitability. HCI also acts as attorney-in-fact for two policyholder-owned reciprocal exchanges — Condo Owners Reciprocal Exchange and Tailrow Insurance Exchange — earning management fees without taking on balance sheet risk. HCI's majority-owned subsidiary Exzeo provides insurance technology and operations solutions, managing roughly $1.2B in premiums on its platform; Exzeo completed its own IPO in late 2025 and now trades on the NYSE. HCI's profitability is driven by underwriting income, investment income on its premium float, and operating leverage from Exzeo's technology, which automates underwriting, policy administration, and claims processing. HCI purchases catastrophe reinsurance annually to cap hurricane exposure and runs a Bermuda-based captive reinsurer to retain select risk. Beyond Florida, HCI is exploring expansion into other CAT-prone markets such as California and Louisiana.