This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

HCI Group Reports Second Quarter And Six-Month 2013 Results

Losses and loss adjustment expenses for the six months ended June 30, 2013 and 2012 were $33.3 million and $35.4 million, respectively.

Policy acquisition and other underwriting expenses for the six months ended June 30, 2013 were $13.3 million compared with $13.1 million for the six months ended June 30, 2012. Other operating expenses totaled $13.5 million for the six months ended June 30, 2013 compared with $8.7 million for the six months ended June 30, 2012.

Interest expense from the company's senior notes issued in January 2013 totaled $1.5 million for the six months ended June 30, 2013.

Six Months Ended June 30, 2013 - Financial Ratios

The company's loss ratio applicable to the six months ended June 30, 2013 was 28.2% compared with 45.6% in the six months ended June 30, 2012.

The expense ratio applicable to the six months ended June 30, 2013 was 24.0% compared with 28.1% in the same period in 2012.

Expressed as a total of all expenses related to net premiums earned, the combined loss and expense ratio to net premiums earned was 52.2% in the six months ended June 30, 2013 compared with 73.7% in the same period in 2012.

Management Commentary

"Our second quarter results reflect continued strength in our core business. We remain diligently focused on our strict underwriting standards and on strategically growing and diversifying our business," said Paresh Patel, HCI Group's chairman and chief executive officer.

Conference Call

HCI Group will hold a conference call later today (August 1, 2013) to discuss these financial results. 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.

Listen-Only Number: 877-407-9210

International: 201-689-8049

Investors or analysts that wish to participate in the Q&A portion of the call should contact Les Holland at lholland@hcigroup.com or (813) 405-3281.

The conference call will be broadcast simultaneously and will be available for replay via the investor section of the company's website at www.hcigroup.com .

Please call the conference telephone number 5 to 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 Liolios Group at (949) 574-3860.

3 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,976.31 +263.65 1.49%
S&P 500 2,086.24 +25.22 1.22%
NASDAQ 4,947.4410 +56.2220 1.15%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs