HCI Group, Inc. is a vertically integrated holding company that primarily operates in the property and casualty (P&C) insurance sector, focusing heavily on the Florida homeowners market. The company's core business is underwritten through its two main insurance subsidiaries: Homeowners Choice Property & Casualty Insurance Company (HCPCI) and TypTap Insurance Company. HCPCI is a leading provider of homeowners insurance in Florida, while TypTap leverages proprietary technology to underwrite flood and homeowners insurance across multiple states.
HCI Group generates the vast majority of its revenue from insurance premiums, which exceeded $1.2 billion in gross earned premiums in 2025. The company's operations are organized into several segments: HCPCI Insurance Operations, TypTap Group, Real Estate Operations (managed by Greenleaf Capital), and Corporate and Other. To support its underwriting activities, HCI operates a captive reinsurer and a claims management business, which help control costs and manage catastrophe risk in coastal markets.
Beyond its core insurance operations, HCI Group has diversified into complementary sectors. Its real estate division, Greenleaf Capital, owns and manages a portfolio of commercial properties in Florida, providing a steady stream of investment income. Additionally, the company develops insurance technology through its subsidiary Exzeo Group, which provides software solutions for policy administration and claims management. Exzeo was successfully spun off via an IPO in 2025, though HCI retained a significant majority stake. HCI Group's competitive advantage lies in its technology-driven underwriting approach, vertically integrated claims management, and strategic depopulation of state-backed insurance policies, allowing it to navigate the complex and volatile Florida property insurance market effectively.
