Reinsurance News
TypTap
HCI’s TypTap assumes $30m of in-force premium from Citizens
20th December 2023
HCI has announced that its majority-owned subsidiary, TypTap Insurance Company, has successfully assumed approximately $30 million of in-force premium from Citizens Property Insurance Corporation, Florida’s state-backed insurance company. The assumption, effective from December 19, 2023, is based upon an approval in October 2023 by the Florida Office of Insurance Regulation. ... Read the full article
HCI expands coverage for TypTap & Homeowners Choice at June renewal
2nd June 2023
Florida-based insurtech HCI Group has increased the reinsurance coverage for both its TypTap and Homeowners Choice subsidiaries at the June renewal. HCI has secured two reinsurance towers for its two insurance subsidiaries by entering into contracts with multiple private reinsurance companies and with the State Board of Administration of Florida, which ... Read the full article
HCI grows TypTap reinsurance program at renewal
17th June 2022
Florida-based insurtech HCI Group has laid out details of the reinsurance programs it secured for its insurance subsidiaries at the June renewals this year, which include significantly expanded coverage for TypTap Insurance Company (TypTap). The 2022-2023 TypTap reinsurance program provides coverage up to $637.3 million for catastrophic losses in a single ... Read the full article
HCI shelves proposed TypTap IPO in light of recent market conditions
13th January 2022
HCI Group has shelved the planned U.S. initial public offering (IPO) of its Florida insurtech subsidiary, TypTap Insurance Company, in light of current market conditions. It was announced in August last year that HCI Group had confidentially submitted a draft registration statement for a proposed IPO with the Securities and Exchange ... Read the full article
HCI details 2021 reinsurance plan for Homeowners Choice & TypTap
19th July 2021
Florida-based insurtech HCI Group has detailed the 2021 reinsurance coverage that it has secured for its two insurance subsidiaries, Homeowners Choice Property & Casualty Insurance Company, Inc. (Homeowners Choice) and TypTap Insurance Company (TypTap). The 2021-2022 Homeowners Choice Florida reinsurance program provides coverage up to $967.6 million for catastrophic losses in ... Read the full article
Typtap hires Travis Rosecrans as VP of Risk & Reinsurance
24th June 2021
TypTap, the insurtech property underwriter funded by Floridian primary carrier HCI Group, has appointed Travis Rosecrans as Vice President, Risk & Reinsurance. Rosecrans joins from Gemini Re where he was a Co-Founder and Portfolio Manager. He spent just over five years at Guy Carpenter, working in roles such as Catastrophe Risk Analyst, ... Read the full article
TypTap secures $100m of funding from Centerbridge
1st March 2021
Florida insurtech and subsidiary of HCI Group, TypTap Insurance Company, has secured a $100 million investment from private investment management firm Centerbridge Partners. The investment, representing about 11.75% of TypTap, implies a post-money valuation for TypTap of approximately $850 million. In exchange for its investment, Centerbridge received from TypTap preferred shares with ... Read the full article
TypTap receives New Mexico regulatory approval
16th February 2021
Florida insurtech and subsidiary of HCI Group, TypTap Insurance Company, has received regulatory approval to write homeowners insurance in New Mexico. The company, which provides homeowners and flood insurance, has planned a nationwide expansion which was announced last year. Since the beginning of 2019, TypTap’s premiums in-force for home-owners insurance, its ... Read the full article
TypTap expands to six new states
29th December 2020
HCI Group-owned insurtech TypTap has received regulatory approval to write homeowners insurance in the states of Indiana, Mississippi, Montana, South Carolina, South Dakota, and Utah. The approvals are part of TypTap’s planned nationwide expansion, which it announced in August. The company, which provides homeowners and flood insurance, had asked Florida insurance ... Read the full article
HCI’s TypTap Insurance sees premiums exceed $50 million
26th November 2019
Premiums in force at technology-driven insurer TypTap Insurance Company, which is a subsidiary of HCI Group, Inc., have now exceeded the $50 million mark. According to an announcement, TypTap Insurance Company's operations are made possible by insurance-related information technology that is developed by HCI's software subsidiary, Exzeo USA, Inc. Speaking during ... Read the full article
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