HCI Group, Inc. announced today that its wholly-owned insurance subsidiary, Homeowners Choice Property & Casualty Insurance Company, Inc., has reached a preliminary agreement to acquire all the insurance policies of Anchor Property & Casualty Insurance Company.
Anchor is a Florida-based provider of homeowners insurance. According to reports filed with insurance regulators, at June 30, 2019 Anchor had 43,209 policies in force representing approximately $69 million in annualized premium. HCI did not disclose a purchase price.
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.