HCI Group, Inc., a Tampa-based insurance holding company, reported gross premium income of $326 million in 1Q26 compared to $300 million in 1Q25 due to an increase in the number of policies in force.
Reinsurance ceded premiums for the quarter were $104 million, compared to $100 million in 1Q25, also due to an increase in the number of policies in force. Net premium income for the quarter was $222 million, compared with $201 million in the first quarter of 2025.
Additionally, HCI’s total revenue in Q1’26 reached $242 million, compared to $216 million in Q1’25.
The insurer reported pre-tax income and net profit of $115 million and $85 million, respectively, in 1Q26, compared with $100 million and $74 million, respectively, in 1Q25.
Loss and loss adjustment expense for the quarter was $66 million compared to $59 million in 1Q25 due to an increase in the number of policies in force and some weather in the Northeast. Gross loss and loss-adjusted expense ratio for the first quarter of 2026 was 20.1%.
Policy acquisition and other underwriting expenses were $32 million in the first quarter of 2026, compared to $27 million in the first quarter of 2025. The increase was driven by increases in effective premiums.
Finally, net investment income was $17 million in 1Q26 compared to $14 million in 1Q25, driven by growth in invested assets.
Paresh Patel, Chairman and CEO of HCI Group, commented: “HCI Group is off to a strong start in 2026, with first-quarter premiums, net profit and earnings per share all hitting record highs.
“Going forward, we plan to continue to use earnings to repurchase stock while strengthening our balance sheet to prepare for the next transformation opportunity.”