Tailrow Reciprocal Exchange assumes ~14,000 policies from Citizens

HCI Group, a holding company with operations in homeowners insurance, information technology services, real estate, and reinsurance, announced that Tailrow Insurance Exchange, an HCI-sponsored reciprocal insurer with plans to write personal residential policies, has successfully assumed just under 14,000 policies from Citizens Property Insurance Corporation, Florida’s state-backed insurance company.

The policies assumed represent approximately $35 million of in-force premium.

Tailrow was approved for 20,000 policies, made approximately 18,000 offers and assumed just under 14,000 policies – a 76% acceptance rate. The assumption of policies is effective as of February 18, 2025.

“We are excited to complete this assumption and officially commence operations at Tailrow. The technology we’ve built and our management expertise enabled us to identify attractive policies at Citizens for assumption and achieve a high adoption rate by policyholders.” – Paresh Patel, HCI’s chairman and chief executive officer.