HCI Group, Inc., a Tampa-based insurance holding company with operations in homeowners insurance, information technology services, real estate, and reinsurance, has confirmed that only one of its three reinsurance towers has been impacted after receiving claims from Hurricane Isaias.
To recap, Hurricane Isaias made landfall near Destin, Florida, as a Category 2 hurricane on 9 October, 2026.
HCI explained that the impacted reinsurance tower is Reinsurance Tower 3, which covers the northern region of Florida and has a $15 million retention, including participation by the company’s own captive reinsurers.
The firm said, “Anything above this number will be subject to the company’s reinsurance agreements.”
Additionally, taking a look at HCI’s reinsurance tokens, only Token B is expected to be impacted by Hurricane Isaias, which remains profitable despite this hit. A more detailed overview of these tokenised transactions is available on Artemis.
Paresh Patel, Chairman and Chief Executive Officer, HCI, commented, “Our thoughts are with everyone impacted by Hurricane Isaias. At this time, we are focused on supporting our policyholders by processing their claims as efficiently and effectively as possible.”
Most recently, catastrophe risk modeller Moody’s RMS Event Response estimated total US private market insured losses from Hurricane Isaias to range from $2.5-4.5 billion, with a best estimate of $3.5 billion.
Other catastrophe modellers like Cotality estimated insured losses from wind and storm surge at between $2-3 billion; Karen Clark & Company (KCC) estimated US privately insured losses from wind and storm surge at $3 billion.
Meanwhile, Verisk’s Catastrophe and Risk Solutions business estimates insured industry losses to onshore property from the hurricane will be between $1-2 billion.
Gallagher Re has also recently published commentary on Hurricane Isaias, stating that the event is unlikely to influence upcoming 1 January reinsurance renewal discussions.
