TAMPA, Fla., Aug. 17, 2017 (GLOBE NEWSWIRE) -- HCI Group, Inc. (NYSE:HCI) announced today that its wholly-owned insurance subsidiary, Homeowners Choice Property & Casualty Insurance Company, Inc., has received regulatory approval to write flood insurance in Maryland. Homeowners Choice may begin selling its flood insurance product there once regulators approve rates and policy forms.
About HCI Group, Inc.
HCI Group, Inc. owns subsidiaries engaged in diverse, yet complementary business activities, including homeowners’ insurance, reinsurance, real estate and information technology services. The company's largest subsidiary, Homeowners Choice Property & Casualty Insurance Company, Inc., is a leading provider of property and casualty insurance in the state of Florida.
The company's common shares trade on the New York Stock Exchange under the ticker symbol "HCI" and are included in the Russell 2000 Index and the S&P SmallCap 600 Index. HCI Group, Inc. regularly publishes financial and other information in the Investor Information section of the company’s website. For more information about HCI Group and its subsidiaries, visit www.hcigroup.com.
This news release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "estimate," "expect," "intend," "plan," "confident," "prospects" and "project" and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. There can be no assurance, for example, that Maryland regulators will approve rates and forms submitted by Homeowners Choice. Some of these risks and uncertainties are identified in the company's filings with the Securities and Exchange Commission. Should any risks or uncertainties develop into actual events, these developments could have material adverse effects on the company's business, financial condition, and results of operations. HCI Group, Inc. disclaims all obligations to update any forward-looking statements.
CONTACT: Company Contact: Kevin Mitchell, Vice President of Investor Relations HCI Group, Inc. Tel (813) 405-3603 firstname.lastname@example.org Investor Relations Contact: Matt Glover or Najim Mostamand, CFA Liolios Group, Inc. Tel (949) 574-3860 HCI@liolios.com
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