HCI Group Q2 2024: Pre-tax income $76M, diluted EPS $4.24, gross loss ratio improves to 29.7%

HCI Group, Inc.

2024-Q2 EPS reported $8.04 revenue$412,859,000

Net income after noncontrolling interests $54.1M vs $12.4M YoY; diluted EPS $4.24 vs $1.28.
Gross premiums earned rose 45% to $263.6M; ceded ratio improved to 29.1% from 36.5%.
Gross loss ratio improved to 29.7% from 34.0%; driven by lower claims & litigation frequency in Florida.
Net investment income doubled to $16.9M from $8.8M on higher interest and real estate income.

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