HCI Group Expects Pre-Tax Gross Loss From Hurricane Idalia to Be Within Reinsurance Retention Limits For Each Of Homeowners Choice Property & Casualty Insurance Company And TypTap Insurance Company
Portfolio Pulse from Benzinga Newsdesk
HCI Group anticipates that the pre-tax gross loss from Hurricane Idalia will be within reinsurance retention limits for both Homeowners Choice Property & Casualty Insurance Company and TypTap Insurance Company.
September 06, 2023 | 8:24 pm
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HCI Group's expected losses from Hurricane Idalia are within reinsurance retention limits, which may limit the financial impact on the company.
HCI Group's announcement that the expected losses from Hurricane Idalia will be within reinsurance retention limits suggests that the company has sufficient reinsurance coverage to absorb the losses. This could limit the financial impact on the company, potentially stabilizing the stock price in the short term.
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