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Homeowners Choice Reports Results For 2012 Fourth Quarter And Full Year

Policy acquisition and other underwriting expenses for 2012 were $25.9 million compared with $18.1 million for 2011. Other operating expenses totaled $21.1 million in 2012 compared with $11.0 million in 2011.

Full Year 2012 - Financial Ratios

The company's loss ratio applicable to 2012 was 42.1% compared with 54.8% in 2011.

The expense ratio applicable to 2012 was 29.9% compared with 33.1% in the same period in 2011.

The combined loss and expense ratio to net premiums earned in 2012 was 72.0% compared with 87.9% in the same period in 2011.

Management Commentary

"2012 was a good year for our company," said Paresh Patel, Homeowners Choice chairman and chief executive officer. "We achieved 30 percent growth in policy count and record earnings. Our policy growth was fueled primarily by the 2011 HomeWise and 2012 Citizens assumption transactions. Most important, we achieved growth while maintaining diligent underwriting standards. Our balance sheet remains strong with $230 million in cash and cash equivalents at year end."

Conference Call

Homeowners Choice will hold a conference call later today (March 5, 2013) to discuss these financial results. The company's chairman and chief executive officer, Paresh Patel, and chief financial officer, Richard Allen, will host the call starting at 4:30 p.m. Eastern time. A question and answer session will follow management's presentation.

The conference call will be broadcast live at www.ir-site.com/hcpci/events.asp and will be available for replay until June 6, 2013.

Those who wish to participate on the conference call, please contact Jay Madhu, Homeowners Choice vice president of investor relations, at 813-405-3660 or jmadhu@hcpci.com.

For those who wish to listen to the call via telephone, please dial the listen-only telephone number below at least 5-10 minutes before the scheduled start time:

Toll-Free Number: 877-407-9210

International Number: 201-689-8049

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