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HCI Exhibit 99.1 HCI Group Reports Second Quarter 2021 Results Tampa , Fla . - August 5 , 2021 - HCI Group , Inc. ( NYSE : HCI ) , a holding company with operations in homeowners insurance , software development and real estate , reported results for the three and six months ended June 30 , 2021 . Second Quarter 2021 - Financial Results Net income for the second quarter of 2021 totaled $ 3.8 million or $ 0.24 diluted earnings per share compared with $ 8.9 million or $ 1.08 diluted earnings per share in the second quarter of 2020. Adjusted net income ( a non - GAAP measure which excludes net unrealized gains or losses on equity securities ) for the quarter was $ 2.7 million or $ 0.11 diluted earnings per share compared with $ 6.8 million or $ 0.86 diluted earnings per share in the second quarter of 2020 . This press release includes an explanation of adjusted net income as well as a reconciliation to net income and earnings per share calculated in accordance with generally accepted accounting principles ( known as " GAAP " ) . Consolidated gross written premiums of $ 185.0 million for the second quarter of 2021 were up 7.6 % from $ 171.9 million in the second quarter of 2020 . The increase was due primarily to a quota share arrangement with United and the continued growth of TypTap . Consolidated gross premiums earned of $ 139.4 million for the second quarter of 2021 were up 29.3 % from $ 107.8 million in the second quarter of 2020 . The increase was driven by the growth in Homeowners Choice gross premiums earned from $ 89.4 million to $ 100.4 million and the growth of TypTap gross premiums earned from $ 18.4 million to $ 39.0 million . Premiums ceded for reinsurance for the second quarter of 2021 increased to $ 46.4 million from $ 34.4 million in the second quarter of 2020 as a result of the growth in both TypTap and Homeowners Choice and represented 33.3 % and 31.9 % , respectively , of gross premiums earned . Net investment income increased to $ 2.6 million from $ 1.6 million in the second quarter of 2020. This increase was due to an increase in income from limited partnership and real estate investments , offset by a decrease in interest income from fixed - maturity security investments . Net realized investment gains increased to $ 2.6 million from $ 1.4 million in the second quarter of 2020. This increase was primarily due to net gains from selling equity securities . Net unrealized investment gains were $ 1.5 million in the second quarter of 2021 compared with $ 2.9 million in 2020. The decrease was primarily due to the sales of equity securities with aggregate net gains during the second quarter . Losses and loss adjustment expenses were $ 55.9 million compared with $ 39.8 million in the same period in 2020. The increase was primarily due to growth in gross premiums earned related to the quota share arrangement with United and the growth in TypTap . Policy acquisition and other underwriting expenses were $ 23.2 million compared with $ 13.0 million in the same quarter of 2020. The increase relates to the amortization of increased costs associated with the quota share arrangement with United and the growth of TypTap . Six Months Ended June 30 , 2021 - Financial Results Net income for the six months ended June 30 , 2021 totaled $ 10.7 million or $ 0.98 diluted earnings per share compared with $ 9.5 million or $ 1.23 diluted earnings per share for the six months ended June 30 , 2020. The increase in net income was primarily due to an increase in net premiums earned of $ 45.8 million , a $ 14.0 million increase in income from the company's investment portfolio , offset by a $ 33.7 million increase in losses and loss adjustment expenses and a $ 21.4 million increase in policy acquisition and other underwriting expenses . Adjusted net income ( a non - GAAP measure which excludes net unrealized gains or losses on equity securities ) for the six - month period was $ 9.8 million or $ 0.87 diluted earnings per share compared with $ 10.9 million or $ 1.41 diluted earnings per share in the same period of 2020. An explanation of this non- GAAP financial measure and reconciliations to the applicable GAAP numbers accompany this press release .