HCI Group restructures operations, launches Exzeo Group Inc

HCI Group  is streamlining its operations into two distinct units to enhance growth and efficiency.

The first unit will house the company’s insurance operations, including Homeowners Choice Property & Casualty, TypTap, Condo Owners Reciprocal Exchange, and Tailrow Insurance Exchange, alongside claims management (Griston), reinsurance (Claddaugh), and real estate (Greenleaf Capital).

The second unit will focus on technology and data analytics, rebranded from TypTap Insurance Group to Exzeo Group Inc. to reflect its tech-driven approach.

Exzeo is already profitable, generating $35 million in pretax income in 2024, with expectations for further growth. HCI wants to expand Exzeo beyond its own insurance companies and make it a standalone entity, allowing it to serve other insurers in different markets. The company is exploring strategic options to maximize Exzeo’s value but has ruled out selling it at this stage, emphasizing its importance.

“Each operating unit is financially strong, and we believe this new structure will enable both to pursue their growth and profitability objectives more effectively. Our technology has a proven track record of delivering solid underwriting results and we believe this streamlined organizational structure will unlock additional growth opportunities.” – Paresh Patel, HCI’s chairman and chief executive officer.