Hci Group, Inc. · NYSE:HCI
Hci — Q4 2025 Earnings Presentation
27 slides from Hci's earnings presentation, Feb 25, 2026
Slide 1: Investor Presentation
Investor Presentation NYSE: HCI | DECEMBER 2025
Slide 2: Forward-Looking Statement
This presentation includes certain forward‐looking statements and information, including statements regarding plans, strategies and expectations of HCI Group, Inc. (“HCI” or the “Company”). When used in this Forward-Looking presentation, words such as “believes,” “anticipates,” “expects,” “estimates
Slide 3: About Us
About Us $1.36B $320M 19.6% Premiums In-Force Net Income Gross Loss Ratio (as of 12/31/25) (Full Year 2025) (Full Year 2025) $80.13 $22.72 6% Book Value Per Share Diluted Earnings Per Share Debt to Capital Ratio (as of 12/31/25) (Full Year 2025) (as of 12/31/25) 2
Slide 4: Highlights
Highlights A diversified holding company engaged in insurance, reinsurance, real estate, claims services, and insurance technology through majority ownership. 2006 founded Combining technology and industry knowledge to drive profitable growth consecutive quarters 61 of dividends Allocating capital w
Slide 5: HCI Organizational Structure
HCI Organizational Structure Non- Insurance Insurance Operations Insurance Technology Operations Insurance Reinsurance Real Estate Companies HCI owns 75 million shares, or ~82% ownership, in Exzeo Group (NYSE: XZO) Claims Services 4
Slide 6: Growing Through Investment & Innovation
Growing Through Investment & Innovation Tailrow Insurance Exchange commences TypTap launches operations nationwide expansion HCI Group premium in force exceeds Executed Launched Launched Griston Claim $1 billion Exzeo Group Inc. first Citizens real estate TypTap insurance Management is becomes publi
Slide 7: Steady Improvement
Steady Improvement Shareholders Equity (in $M) Invested Assets (in $M) $1,041 $2,000 $1,407 $1,057 $453 $850 $325 $163 2022 2023 2024 2025 2022 2023 2024 2025 Book Value Per Share Debt Leverage (%) 1 57% $80.13 39% 34% $42.10 $33.36 $18.91 6% 2022 2023 2024 2025 2022 2023 2024 2025 6 (1) Excludes pr
Slide 8: HCI Group Investment Portfolio
HCI Group Investment Portfolio A conservative allocation, positioned for higher rates and opportunistic investments 1% 3% 5% Fixed Income Cash Real Estate & Other Total invested assets1 30% $2.0 billion Equity 61% Limited Partnerships Fixed Income Average Duration ~1.5 year (1) As of 12/31/25 7
Slide 9: Insurance Operations
Insurance Operatio Fron & Typlap
Slide 10: Overview of Insurance Companies
Overview of Insurance Companies Launched in 2007 Launched in 2016 Commenced operations in Commenced operations in 2024 as reciprocal exchange 2025 as reciprocal exchange Homeowners and Technology-driven condominium owners homeowners insurance Writes Florida-based Writes Florida-based personal insura
Slide 11: Opportunistic Growth with Best-in-Class Florida Underwriting
Opportunistic Growth with Best-in-Class Florida Underwriting 1 Premium in Force (in $M) Geographic Footprint $1,355 $1,226 $995 $719 $737 $528 $353 $338 $369 2017 2018 2019 2020 2021 2022 2023 2024 2025 Proactively Deploying Excess Opportunistically Best-in-class Managing Risk Capital Into Investmen
Slide 12: A Profitable Homeowners Business
A Profitable Homeowners Business Loss Ratio 1 Impact of Legislative Reforms in Florida Despite four named catastrophe events between 2022 and 2025, HCI Group Leverage technology to constantly evaluate reported an average ROE of 26% over the period. Gross loss ratio has underwriting benefitted from a
Slide 13: Claddaugh
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Slide 14: Claddaugh Generating Profits for Our Shareholders
Claddaugh Generating Profits for Our Shareholders Cumulative Net Premium Earned Since 2008 $350 Claddaugh is used to $300 opportunistically manage reinsurance cycles for HCI’s $250 insurance divisions. $200 $150 $100 Since its formation in 2008, $50 Claddaugh has contributed 1 $112M in pre-tax incom
Slide 15: Greenleaf Capital
| | GREENLEAF CAPITAL”
Slide 16: Creating Value in Real Estate
Acquire properties with differentiated value drivers Creating Value in Real Estate Optimize Reinvest or capital harvest Greenleaf Capital owns and structure operates HCI’s real estate portfolio. Its holdings include a set of premier commercial assets in rapidly growing Florida. Develop or reposition
Slide 17: Recent Sales Transactions
Generating Gains from our Real Estate Portfolio PROPERTY LOCATION DATE PURCHASED GROSS PROCEEDS2 BOOK VALUE PRE-TAX GAIN1 Recent Sales Transactions Office Building Tampa 2010 $44.0M $7.0M $37.0M Office Building Tampa 2017 $14.5M $1.1M $13.4M Grocery Anchored Retail Eustis, FL 2016 $13.0M $10.6M $2.5
Slide 18: Florida Real Estate Portfolio With Embedded Value
Florida Real Estate Portfolio With Embedded Value PROPERTY APPRAISED VALUE (1) BOOK VALUE(2) DEBT ON PROPERTY(3) Office Portfolio $61M $35M $4M OPERATING Anchored Retail 54M 44M $28M Waterfront Specialty Use Portfolio 40M 16M - DEVELOPMENT UNDER Properties Under Development 35M 28M - $190M $123M APP
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Slide 20: Griston Provides Tailored Claims Solutions
Griston Provides Tailored Claims Solutions All-in-one Claim Real-time Claim Field Inspection Management Solution Tracking Platform An all-in-one claims Equips insurers with Custom mobile app for management solution built geospatial tools to pinpoint efficient field inspections, for carriers, TPAs, a
Slide 21: An Insurance Technology Company Majority Owned by HCI Group
An Insurance Technology Company Majority Owned by HCI Group
Slide 22: Overview of Exzeo
Overview of Advanced Underwriting Insurance Management Data & Analytics Solutions Solutions • Over a decade of expertise in • Exzeo transforms both structured and • Exzeo designs, markets, underwrites, developing and training underwriting unstructured data into an actionable and administers insuranc
Slide 23: Technology Built by Insurance Operators for Insurance Operators
Technology Built by Insurance Operators for Insurance Operators Exzeo Was Launched in 2012 to Build and Develop HCI’s Entire Technology Stack Second insurance Third Launched product is A team of 175+ experienced insurance First insurance launched – product is developers, data scientists and product
Slide 24: Exzeo Uses Technology to Underwrite at the Individual Property Level
Exzeo Uses Technology Over the past 10 years, Exzeo customers have outperformed the broader P&C to Underwrite at the market by ~10% Individual Property Level 74% Differentiated Strategy Individual property level risk evaluation Only write insurance for homes that are expected to be profitable on a s
Slide 25: Experienced & Focused Leadership Team
Experienced & Focused Leadership Team PARESH PATEL MARK HARMSW ORTH Chairman & Chief Executive Officer, HCI Group Chief Financial Officer, HCI Group ▪ Founder; Chairman since 2007 & CEO since 2011 ▪ CFO since 2017; previously SVP of Finance ▪ Designed HCI’s policy administration systems, leveraging
Slide 26: Delivering Shareholder Value
Delivering Shareholder Value Capital returned to $458M shareholders since inception2 14% Insider ownership >5500% Total Shareholder Return since IPO 18% 10-year average ROE1 1) As of 12/31/2025 2) Includes $269M buybacks and $189M dividends 25
Slide 27: Contact Us
Contact Us I N V E S T O R R E L AT I O N S HCI C O N TA C T G R O U P, I N C . Nat Otis 3802 Coconut Palm Drive Tel (813) 405-5341 Tampa, FL 33619 notis@hcigroup.com Tel (813) 849-9500 www.hcigroup.com contactus@hcigroup.com 26