HCI Group anticipates paying between $600 million and $750 million to policyholders due to recent hurricane events, specifically hurricanes Debby, Helene, and Milton. The company’s net retained losses are projected to be approximately $185 million, thanks to robust reinsurance arrangements. HCI expects a net expense of about $60 million for hurricanes Debby and Helene and around $125 million for Milton, while still aiming to report a pre-tax profit for Q3 2024. The insurer credits its strong financial position and extensive reinsurance programs for its capacity to absorb these losses.
