HCI Group Inc
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 28, 2025
HCI$188.53+1.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets at December 31, 2024 and 2023
| December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Assets | ||
| Fixed-maturity securities, available-for-sale, at fair value (amortized cost: $719,536 and $387,687, respectively and allowance for credit losses: $0 and $0, respectively) | $718,537 | $383,238 |
| Equity securities, at fair value (cost: $52,030 and $44,011, respectively) | 56,200 | 45,537 |
| Limited partnership investments | 20,802 | 23,583 |
| Real estate investments | 79,120 | 67,893 |
| Total investments | 874,659 | 520,251 |
| Cash and cash equivalents (a) | 532,471 | 536,478 |
| Restricted cash (a) | 3,714 | 3,287 |
| Receivable from maturities of fixed-maturity securities | — | 91,085 |
| Accrued interest and dividends receivable | 6,008 | 3,507 |
| Income taxes receivable (a) | 463 | — |
| Deferred income taxes, net (a) | 72 | 512 |
| Premiums receivable, net (allowance: $5,891 and $3,152, respectively) (a) | 50,582 | 38,037 |
| Assumed premiums receivable | — | 19,954 |
| Prepaid reinsurance premiums (a) | 92,060 | 86,232 |
| Reinsurance recoverable, net of allowance for credit losses (a): | ||
| Paid losses and loss adjustment expenses (allowance: $0 and $0, respectively) | 36,062 | 19,690 |
| Unpaid losses and loss adjustment expenses (allowance: $186 and $118, respectively) | 522,379 | 330,604 |
| Deferred policy acquisition costs (a) | 54,303 | 42,910 |
| Property and equipment, net | 29,544 | 29,251 |
| Right-of-use assets – operating leases | 1,182 | 1,407 |
| Intangible assets, net | 5,206 | 7,659 |
| Funds withheld for assumed business | 11,690 | 30,087 |
| Other assets (a) | 9,818 | 50,365 |
| Total assets | $2,230,213 | $1,811,316 |
(a)
See Note 16 for details of balances associated with variable interest entities.
| December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Liabilities and Equity | ||
| Losses and loss adjustment expenses (a) | $845,900 | $585,073 |
| Unearned premiums (a) | 584,703 | 501,157 |
| Advance premiums | 18,867 | 15,895 |
| Reinsurance payable on paid losses and loss adjustment expenses | 2,496 | 3,145 |
| Ceded reinsurance premiums payable | 18,313 | 8,921 |
| Assumed premiums payable (a) | 2,176 | 850 |
| Accrued expenses (a) | 17,677 | 19,722 |
| Income tax payable (a) | 5,451 | 7,702 |
| Deferred income taxes, net (a) | 2,830 | — |
| Revolving credit facility | 44,000 | — |
| Long-term debt | 185,254 | 208,495 |
| Lease liabilities – operating leases | 1,185 | 1,408 |
| Other liabilities (a) | 32,320 | 35,623 |
| Total liabilities | 1,761,172 | 1,387,991 |
| Commitments and contingencies (Note 25) | ||
| Redeemable noncontrolling interests (Note 21) | 1,691 | 96,160 |
| Equity: | ||
| Common stock (no par value, 40,000,000 shares authorized, 10,767,184 and 9,738,183 shares issued and outstanding in 2024 and 2023, respectively) | — | — |
| Additional paid-in capital | 122,289 | 89,568 |
| Retained income | 331,793 | 238,438 |
| Accumulated other comprehensive loss, net of taxes | (749) | (3,163) |
| Total stockholders’ equity | 453,333 | 324,843 |
| Noncontrolling interests | 14,017 | 2,322 |
| Total equity | 467,350 | 327,165 |
| Total liabilities, redeemable noncontrolling interest and equity | $2,230,213 | $1,811,316 |
(a)
See Note 16 for details of balances associated with variable interest entities.
See accompanying Notes to Cons olidated Financial Statements.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.