HCI Group Agrees to Purchase Insurance plan Enterprise in 4 Northeast States from United Insurance coverage …

TAMPA, Fla., Jan. 22, 2021 (Globe NEWSWIRE) — HCI Team, Inc. (NYSE: HCI), an InsurTech business with functions in insurance coverage, application improvement and genuine estate, has entered into a renewal rights agreement, dated January 18, 2021, with United Insurance Keeping Corp. (NASDAQ: UIHC) pursuant to which United is to changeover to HCI all its particular strains insurance coverage business enterprise in the states of Connecticut, New Jersey, Massachusetts and Rhode Island.

“We’re fired up to enter into this agreement with United,” stated HCI Group Chairman and Chief Executive Officer Paresh Patel. “When fully consummated, these transactions will accelerate our strategic prepare to increase nationally. We will receive not only a seasoned book of business, but also an established agent community and vital fundamental facts.”   

About HCI Group, Inc.
HCI Team, Inc. is an InsurTech business with functions in insurance coverage, program development and real estate. HCI’s leading coverage procedure, TypTap Coverage Firm, is a promptly developing, technological innovation-driven insurance policies company, which delivers homeowners insurance coverage and flood coverage in Florida. TypTap’s functions are powered in huge section by coverage-associated information and facts know-how developed by HCI’s computer software subsidiary, Exzeo Usa, Inc. HCI’s greatest subsidiary, Householders Option Assets & Casualty Insurance plan Business, Inc., offers homeowners’ insurance policy largely in Florida. HCI’s real estate subsidiary, Greenleaf Money, LLC, owns and operates various houses in Florida, which includes place of work properties, retail facilities and marinas.

The company’s frequent shares trade on the New York Stock Exchange underneath the ticker image “HCI” and are involved in the Russell 2000 and S&P SmallCap 600 Index. HCI Team, Inc. often publishes money and other information in the Trader Facts part of the company’s web-site. For a lot more facts about HCI Team and its subsidiaries, pay a visit to www.hcigroup.com.

Forward-Hunting Statements
This news release could contain ahead-hunting statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words these kinds of as “anticipate,” “estimate,” “expect,” “intend,” “plan,” “confident,” “prospects” and “project” and other equivalent words and phrases and expressions are meant to signify ahead-seeking statements. Forward-looking statements are not assures of long term final results and disorders, but somewhat are issue to many hazards and uncertainties. For case in point, there can be no assurance that insurance policy regulators will allow HCI to operate in the relevant states and approve the proposed terms of the transaction. Further more, there can be no assurance the transitioned business will be worthwhile. Some of these challenges and uncertainties are determined in the company’s filings with the Securities and Trade Commission. Ought to any pitfalls or uncertainties develop into genuine occasions, these developments could have product adverse effects on the proposed transaction and HCI’s business enterprise, financial issue, and final results of operations. HCI Team, Inc. disclaims all obligations to update any ahead-searching statements.

Firm Get in touch with:
Rachel Swansiger, Esq.
HCI Group, Inc.
Tel (813) 405-3206
[email protected]

Investor Relations Get hold of:
Matt Glover
Gateway Investor Relations
Tel (949) 574-3860
[email protected]

Media Contact:
Amber Brinkley
Kippen Communications
Tel (727) 466-7695
[email protected]