TypTap Insurance Company Surpasses $100 Million In Annual Recurring Revenue

TAMPA, Fla., Dec.
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TAMPA, Fla., Dec. 02, 2020 (GLOBE NEWSWIRE) -- TypTap Insurance Company , a rapidly growing, technology-driven insurance company and a wholly owned subsidiary of HCI Group, Inc. (HCI) - Get Report, announced today that annual recurring revenue surpassed $100 million.

TypTap provides homeowners insurance and flood insurance primarily in Florida. It uses proprietary technologies and data analytics to make quick and smart underwriting decisions and reduce risks. Most of its insurance services are sold through independent insurance agents.

"The growing acceptance of our products and technology platform has enabled TypTap to reach this major milestone ahead of schedule," said TypTap President Kevin Mitchell.

About HCI Group, Inc.HCI Group, Inc. is an InsurTech company with operations in insurance, software development and real estate. HCI's leading insurance operation, TypTap Insurance Company, is a rapidly growing, technology-driven insurance company, which provides homeowners insurance and flood insurance primarily in Florida. TypTap's operations are powered in large part by insurance-related information technology developed by HCI's software subsidiary, Exzeo USA, Inc.  HCI's largest subsidiary, Homeowners Choice Property & Casualty Insurance Company, Inc., provides homeowners' insurance primarily in Florida. HCI's real estate subsidiary, Greenleaf Capital, LLC, owns and operates multiple properties in Florida, including office buildings, retail centers and marinas.

The company'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 .

TypTap Company Contact:Kevin Mitchell, PresidentTypTap Insurance CompanyTel (813) 405-3603 kmitchell@typtap.com   

TypTap Media Contact:Amber BrinkleyKippen CommunicationsTel (727) 466-7695 amber@kippencommunications.com

HCI C ompany Contact:Rachel Swansiger, Esq. HCI Group, Inc.Tel (813) 405-3206 rswansiger@hcigroup.com

HCI Investor Relations Contact:Matt GloverGateway Investor RelationsTel (949) 574-3860 HCI@gatewayir.com