HCI Group, Inc., a Tampa-based insurance holding company, reported gross premiums earned of $326 million for the first quarter of 2026, compared with $300 million in Q1’25, driven by a higher volume of insurance policies in force.
For the quarter, premiums ceded for reinsurance were $104 million compared to $100 million in Q1’25, also due to a higher volume of insurance policies in force. Net premiums earned for the quarter were $222 million compared to $201 million in Q1’25.
Additionally, HCI’s total revenues for Q1’26 hit $242 million, compared to $216 million in Q1’25.
The insurer, for Q1’26, reported pre-tax income of $115 million and net income of $85 million, respectively, compared to $100 million and $74 million, respectively, in Q1’25.
For this quarter, losses and loss adjustment expenses were $66 million compared with $59 million in Q1’25, driven by a higher volume of policies in force, and some weather in the Northeast. The gross loss and loss adjustment expense ratio for the first quarter of 2026 was 20.1%.
Policy acquisition and other underwriting expenses in the first quarter of 2026 were $32 million compared with $27 million in Q1’25. The rise was driven by a greater amount of premiums in force.
Lastly, net investment income for Q1’26 was $17 million compared with $14 million in Q1’25, driven by growth in invested assets.
Paresh Patel, Chairman and Chief Executive Officer, HCI Group, commented, “HCI Group had an excellent start to 2026, delivering record first quarter results for earned premiums, net income and earnings per share.
“Moving forward, we plan to continue using our earnings to buy back stock while strengthening our balance sheet as we prepare for the next transformational opportunity.”
