HCI Group, Inc. (NYSE:HCJ) Q3 2016 Earnings Conference Call - Final Transcript

Nov 03, 2016 • 04:45 pm ET


HCI Group, Inc. (NYSE:HCJ) Q3 2016 Earnings Conference Call - Final Transcript


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Good afternoon. Welcome to HCI Group's Third Quarter 2016 Earnings Call. My name is Tim and I will be your conference operator this afternoon. At this time, all participants will be in a listen-only mode.

Before we begin today's call, I would like to remind to everyone that this conference call is being recorded and will be available through replay on December 3rd starting later this evening. The call is also being broadcast live via webcast and available via webcast replay until December 3rd on the Investor Information section of the HCI Group website at www.hcigroup.com.

I would now like to turn the call over to Kevin Mitchell, the Vice President of Investor Relations for HCI Group. Sir, please proceed.

Kevin Mitchell

Thank you, and good afternoon. Welcome to HCI Group's third quarter 2016 earnings call. With me today are Paresh Patel, our Chairman and Chief Executive Officer; and Richard Allen, our Chief Financial Officer.

Following Paresh's opening remarks about the recent storm activity in Florida, Richard will review our financial performance for the quarter, and then turn the call back to Paresh for an operational update and business outlook. Finally, we will answer questions. To access today's webcast, please visit the Investor Relation section of our corporate website at hcigroup.com.

Before we begin, I would like to take an opportunity to remind our listeners that today's presentation and responses to questions may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as anticipate, estimate, expect, intend, plan and project and other similar words and expressions are intended to signify forward-looking statements.

Forward-looking statements are not guarantees of future results and conditions but rather subject to various risks and uncertainties. Some of these risks and uncertainties are identified in the Company's filings with the Securities and Exchange Commission. Should any risks or uncertainties develop into actual events, these developments could have a material adverse effects on the Company's business, financial conditions, and results of operation. HCI Group, Inc. disclaims all the obligations to update any forward-looking statements.

With that said, I would like to turn the call over to Paresh Patel, our Chairman and CEO. Paresh?

Paresh Patel

Thank you, Kevin, and welcome, everyone. As most of you know, HCI Group is a holding company with subsidiaries engaged in diverse yet complementary business activities. Our principal operating subsidiary Homeowners Choice Property & Casualty Insurance Company which provides Homeowners Insurance in Florida. And the newest addition to our company which we introduced earlier this year is TypTap Insurance Company, featuring typtap.com, an online platform for coding and binding policies. TypTap currently offers private flood insurance to Florida homeowners. We encourage our listeners to visit TypTap website at tpytap.com to experience the platform. It provides a code in seconds and a policy in minutes.

Additionally, we have a Bermuda-based reinsurance subsidiary called Claddaugh Casualty Insurance Company, which participates in our Homeowners Choice reinsurance programs. We also have an information technology operation called Exzeo, which develops innovative products and services for