Earnings release
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1 Exhibit 99.1 HCI Group Reports Third Quarter 2026 Results Third Quarter Pre-Tax Income of $116 million Diluted EPS of $6.45 Gross Loss Ratio of 20.7% Tampa, Fla. – November 4, 2026 – HCI Group, Inc. (NYSE:HCI), reported pre-tax income of $116 million and net income of $86 million in the third quarter of 2026 compared with pre-tax income of $91 million and net income of $68 million in the third quarter of 2025. Net income after noncontrolling interests in the third quarter of 2026 was $83 million compared with $66 million in the third quarter of 2025. Diluted earnings per share were $6.45 in the third quarter of 2026 compared with $4.90 diluted earnings per share in the third quarter of 2025. Management Commentary "Earnings accelerated this quarter as greater operating leverage combined with modest premium growth to drive more profit to the bottom line," said HCI Group Chairman and Chief Executive Officer Paresh Patel. "Our performance illustrates that internal operating decisions can be as important as external market conditions." Third Quarter 2026 Results Gross premiums earned in the third quarter of 2026 were $316 million compared with $301 million in the third quarter of 2025. The increase of 5% was driven by a higher volume of insurance policies in force while average premium per policy remained relatively consistent. Premiums ceded for reinsurance in the third quarter of 2026 were $97 million compared with $106 million in the third quarter of 2025. The decrease was a result of lower costs associated with the company’s new 2026-2027 catastrophe reinsurance programs, which began on June 1, 2026. Net investment income in the third quarter of 2026 was $22 million compared with $18 million in the third quarter of 2025. The increase was primarily driven by growth in invested assets. Losses and loss adjustment expenses in the third quarter of 2026 were $65 million compared with $66 million in the third quarter of 2025. Loss and loss adjustment expenses in the third quarter of 2026 included a small amount of favorable prior year development. Policy acquisition and other underwriting expenses were $32 million for both the third quarter of 2026 and the third quarter of 2025. General and administrative personnel expenses in the third quarter of 2026 were $24 million compared with $21 million in the third quarter of 2025. The increase was driven by additional personnel, annual merit increases, and stock-based compensation. Nine Months Ended September 30, 2026 Results For the nine months ended September 30, 2026, HCI Group reported pre-tax income of $343 million and net income of $254 million compared with pre-tax income of $285 million and net income of $212 million for the nine months ended September 30, 2025. Net income after noncontrolling interests was $231 million for the nine months ended September 30, 2026 compared with $201 million for the nine months ended September 30, 2025. Diluted earnings per share were $17.48 for the nine months ended September 30, 2026 compared with $15.47 for the nine months ended September 30, 2025. Gross premiums earned for the nine months ended September 30, 2026 were $963 million compared with $904 million for the nine months ended September 30, 2025. The increase of 7% was driven by a higher volume of insurance policies in force while average premium per policy remained relatively consistent.
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2 Premiums ceded for reinsurance for the nine months ended September 30, 2026 were $303 million compared with $308 million for the nine months ended September 30, 2025. The decrease was a result of lower costs associated with the company’s new 2026-2027 catastrophe reinsurance programs, which began on June 1, 2026. Net investment income for the nine months ended September 30, 2026 was $58 million compared with $48 million for the nine months ended September 30, 2025. The increase was primarily driven by growth in invested assets. Losses and loss adjustment expenses for the nine months ended September 30, 2026 were $202 million compared with $190 million for the nine months ended September 30, 2025. The gross loss ratio was 21.0% for both the nine months ended September 30, 2026 and 2025. Policy acquisition and other underwriting expenses for the nine months ended September 30, 2026 were $96 million compared with $89 million for the nine months ended September 30, 2025. The increase was driven by a higher volume of premiums in force. General and administrative personnel expenses for the nine months ended September 30, 2026 were $70 million compared with $61 million for the nine months ended September 30, 2025. The increase was driven by additional personnel, annual merit increases, and stock-based compensation. Share Repurchase On March 3, 2026, HCI Group announced a share repurchase program to repurchase up to $80 million of shares of HCI common stock through February 27, 2027. In the third quarter of 2026, HCI Group repurchased 30,721 shares for $6 million. The share repurchase program was completed on July 17, 2026, with a total of 504,330 shares repurchased for $80 million. Conference Call HCI Group will hold a conference call later today, November 4, 2026, to discuss these financial results. Chairman and Chief Executive Officer Paresh Patel, Chief Operating Officer Karin Coleman, and Chief Financial Officer Mark Harmsworth will host the call starting at 4:45 p.m. Eastern Time. Interested parties can listen to the live presentation by dialing the listen-only number below or by clicking the webcast link available on the Investor Information section of the company's website at www.hcigroup.com. Listen-only toll-free number: (888) 506-0062 Listen-only international number: (973) 528-0011 Entry Code: 794892 Please call the conference telephone number 10 minutes before the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gateway Group at (949) 574-3860. A replay of the call will be available after 8:00 p.m. Eastern Time on the same day through November 19, 2026 and a replay of the webcast will be available on the Investor Relations section of the HCI Group website at www.hcigroup.com through November 4, 2027. Toll-free replay number: (877) 481-4010 International replay number: (919) 882-2331 Replay ID: 54651 About HCI Group, Inc. HCI Group, Inc. is a diversified holding company founded in 2006 which, through its subsidiaries, is engaged in homeowners insurance, reinsurance, real estate, insurance claims services, and insurance technology. The HCI Group portfolio of companies includes multiple property and casualty underwriters, exchanges, and captive reinsurers as well as a claims management business, a commercial real estate investment company, and a leading insurance technology company, Exzeo Group. HCI Group's common shares trade on the New York Stock Exchange under the ticker symbol "HCI" and are included in the Russell 2000 and S&P SmallCap 600 Index. HCI Group, Inc. regularly publishes financial and other information in the Investor Information section of the company’s website. For more information about HCI Group and its subsidiaries, visit www.hcigroup.com. Exzeo’s common shares trade on the New York Stock Exchange under the ticker symbol “XZO.” For more information about Exzeo, visit www.exzeo.com.
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3 Forward-Looking Statements This news release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "estimate," "expect," "intend," "plan," "confident," "prospects" and "project" and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions, but rather are subject to various risks and uncertainties. For example, the estimation of reserves for losses and loss adjustment expenses is an inherently imprecise process involving many assumptions and considerable management judgment. Further, future cash flow and earnings may limit HCI’s ability or willingness to engage in share buybacks. Some of these risks and uncertainties are identified in the company's filings with the Securities and Exchange Commission. Should any risks or uncertainties develop into actual events, these developments could have material adverse effects on the company's business, financial condition and results of operations. HCI Group, Inc. disclaims all obligations to update any forward-looking statements. Company Contact: Nat Otis Investor Relations HCI Group, Inc. Tel (813) 355-5341 notis@hcigroup.com Investor Relations Contact: Matt Glover Gateway Group, Inc. Tel (949) 574-3860 HCI@gateway-grp.com - Tables to follow -
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4 HCI GROUP, INC. AND SUBSIDIARIES Selected Financial Metrics (Unaudited) (In thousands, except share and per share amounts) Three Months Ended September 30, 2026 2025 Gross Written Premiums: Homeowners Choice $ 185,401 $ 182,863 TypTap Insurance Company 107,355 109,963 Condo Owners Reciprocal Exchange 24,879 6,380 Tailrow Reciprocal Exchange 35,415 15,965 Total Gross Written Premiums $ 353,050 $ 315,171 Gross Premiums Earned: Homeowners Choice $ 158,496 $ 156,904 TypTap Insurance Company 120,789 124,613 Condo Owners Reciprocal Exchange 8,321 10,499 Tailrow Insurance Exchange 28,466 9,063 Total Gross Premiums Earned $ 316,072 $ 301,079 Gross loss and loss adjustment expense ratio 20.7% 22.0% Per Share Metrics Diluted earnings per share $ 6.45 $ 4.90 Dividends per share $ 0.40 $ 0.40 Book value per share at the end of period $ 90.15 $ 63.41 Shares outstanding at the end of period 12,437,958 12,959,362
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5 HCI GROUP, INC. AND SUBSIDIARIES Consolidated Balance Sheets (Unaudited) (In thousands, except share amounts) September 30, 2026 December 31, 2025 Assets Fixed-maturity securities, available-for-sale, at fair value (amortized cost: $1,295,000 and $595,383, respectively and allowance for credit losses: $0 and $0, respectively) $ 1,241,444 $ 597,329 Equity securities, at fair value (cost: $57,091 and $61,597, respectively) 59,244 65,890 Limited partnership investments 16,076 17,690 Real estate investments 102,683 103,746 Other investments 5,000 5,000 Total investments 1,424,447 789,655 Cash and cash equivalents 743,527 1,210,126 Restricted cash 4,600 3,748 Income taxes receivable 2,612 1,332 Deferred income tax assets, net 9,817 2,237 Premiums receivable, net (allowance: $5,271 and $4,469, respectively) 81,265 57,494 Prepaid reinsurance premiums 49,860 50,127 Reinsurance recoverable, net of allowance for credit losses: Paid losses and loss adjustment expenses (allowance: $0 and $0, respectively) 24,835 27,855 Unpaid losses and loss adjustment expenses (allowance: $62 and $97, respectively) 211,187 262,041 Deferred policy acquisition costs 72,892 59,722 Property and equipment, net 26,861 28,939 Intangible assets, net 1,864 2,683 Funds withheld for assumed business 4,512 5,254 Other assets 55,483 27,715 Total assets $ 2,713,762 $ 2,528,928 Liabilities, Redeemable Noncontrolling Interests and Equity Losses and loss adjustment expenses $ 549,607 $ 576,495 Unearned premiums 696,313 643,328 Advance premiums 38,263 19,302 Ceded reinsurance premiums payable 10,467 27,591 Assumed premiums payable 941 1,744 Income taxes payable 27,067 12,782 Deferred income tax liabilities, net 247 3,814 Revolving credit facility 36,000 36,000 Long-term debt 31,255 31,877 Accrued expenses and other liabilities 97,617 61,351 Total liabilities 1,487,777 1,414,284 Commitments and contingencies Redeemable noncontrolling interests 8,362 3,359 Equity: Common stock, (no par value, 40,000,000 shares authorized, 12,437,958 and 12,992,147 shares issued and outstanding, respectively) — — Additional paid-in capital 332,903 428,109 Retained earnings 826,963 611,509 Accumulated other comprehensive (loss) income (38,586) 1,459 Total stockholders' equity 1,121,280 1,041,077 Noncontrolling interests 96,343 70,208 Total equity 1,217,623 1,111,285 Total liabilities, redeemable noncontrolling interests and equity $ 2,713,762 $ 2,528,928
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6 HCI GROUP, INC. AND SUBSIDIARIES Consolidated Statements of Income (Unaudited) (In thousands, except per share amounts) Three Months Ended Nine Months Ended September 30, September 30, 2026 2025 2026 2025 Revenue Gross premiums earned $ 316,072 $ 301,079 $ 963,102 $ 904,090 Premiums ceded (96,929) (106,088) (302,796) (308,245) Net premiums earned 219,143 194,991 660,306 595,845 Net investment income 21,669 17,529 57,860 47,725 Net realized investment gains 549 618 2,305 1,940 Net unrealized investment (losses) gains (1,185) 1,214 (2,140) 488 Policy fee income 1,754 1,569 4,981 5,265 Other 2,979 429 11,132 3,440 Total revenue 244,909 216,350 734,444 654,703 Expenses Losses and loss adjustment expenses 65,359 66,153 202,035 189,901 Policy acquisition and other underwriting expenses 31,689 31,652 95,805 89,490 General and administrative personnel expenses 23,671 20,806 69,972 61,274 Interest expense 1,460 1,019 3,467 8,147 Other operating expenses 6,437 6,121 20,515 20,561 Total expenses 128,616 125,751 391,794 369,373 Income before income taxes 116,293 90,599 342,650 285,330 Income tax expense 30,066 22,711 88,480 72,933 Net income $ 86,227 $ 67,888 $ 254,170 $ 212,397 Net income attributable to noncontrolling interests (2,728) (2,381) (23,467) (11,046) Net income after noncontrolling interests $ 83,499 $ 65,507 $ 230,703 $ 201,351 Basic earnings per share $ 6.67 $ 5.05 $ 18.04 $ 16.96 Diluted earnings per share $ 6.45 $ 4.90 $ 17.48 $ 15.47 Dividends per share $ 0.40 $ 0.40 $ 1.20 $ 1.20
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7 HCI GROUP, INC. AND SUBSIDIARIES Earnings Per Share (Unaudited) (In thousands, except per share amounts) The computations of basic and diluted earnings per share for the periods presented were as follows: Three Months Ended Nine Months Ended September 30, 2026 September 30, 2026 Income Shares Per Share Income Shares Per Share (Numerator) (Denominator) Amount (Numerator) (Denominator) Amount Net income $ 86,227 $ 254,170 Less: Net income attributable to noncontrolling interests (2,728) (23,467) Net income after noncontrolling interests 83,499 230,703 Less: Income attributable to participating securities (2,488) (8,759) Basic Earnings Per Share: Income attributable to common stockholders 81,011 12,148 $ 6.67 221,944 12,301 $ 18.04 Effect of Dilutive Securities: Stock options — 407 — 397 Warrants — 8 — 8 Net impact from reallocation of undistributed earnings to participating securities 59 — 206 — Diluted Earnings Per Share: Income attributable to common stockholders $ 81,070 12,563 $ 6.45 $ 222,150 12,706 $ 17.48