Short answer
HCI Group, Inc. (HCI) filed its fiscal 2025 10-K annual report with the SEC on Feb 26, 2026. It reported revenue of $901M (+20.1% year over year) and net income of $299M.
- Top risk flagged: Florida insurance regulation risk: mandatory approval of policy forms and premiums by state insurance regulators impacting underwriting flexibility
FY2025 key financial metrics · XBRL
- Revenue
- $901M
- +20.1% YoY
- Net income
- $299M
- +171.9% YoY
- EPS (diluted)
- $22.72
- +155.6% YoY
- ROE
- 28.7%
- +4.5 pp YoY
- Operating cash flow
- $444M
- +33.9% YoY
Source: XBRL data from the HCI Group, Inc. (HCI) FY2025 10-K on SEC EDGAR. USD.
HCI Group, Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Property and casualty insurance focused on homeowners in Florida and nearby U.S. regions
- New segments: Initiated two reciprocal insurance exchanges in 2024 (CORE) and 2025 (Tailrow) specializing in multi-peril insurance
- Strategic shift: Transferred TypTap Insurance Company from Exzeo to HCI for streamlined insurance operations; Exzeo spun off with 82.5% ownership retained
- Notable metric: Exzeo's initial public offering in Nov 2025, positioning technology services for external insurers
- Unique fact: Use of proprietary Exzeo software to optimize underwriting, claims processing, and operational efficiency across insurance subsidiaries
Management Discussion & Analysis
- No management outlook, guidance, or emerging risks included
Risk Factors
- Florida insurance regulation risk: mandatory approval of policy forms and premiums by state insurance regulators impacting underwriting flexibility
- Catastrophic weather exposure: $78.2M, $43.0M, $6.5M losses from Hurricanes Milton, Helene, Debby in 2024 with none in 2025
- Reinsurance costs volatility: premiums ceded increased to 33.5% of gross premiums in 2025, subject to retrospective contract provisions changing costs
- Market disruption from Citizens policy assumptions: 60,820 policies assumed in 2025, down from 52,805 in 2024, impacting growth and risk profile
- Leverage risk: $36M drawn on $150M revolving credit facility with covenants requiring adherence, maturity November 2030
Generated from the filing text; verify against the original. How to read a 10-K
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