Hci group receives approval for new carrier and citizens assumption

Tampa, fla., nov. 30, 2023 (globe newswire) -- hci group, inc. (nyse: hci), a holding company with operations in homeowners insurance, information technology services, real estate, and reinsurance, announced today that condo owners reciprocal exchange, an hci-sponsored reciprocal insurer with plans to write commercial residential policies, has received from florida insurance regulators a certificate of authority to transact insurance in florida. condo owners reciprocal exchange, or core, plans to commence operations in february 2024 by assuming policies representing approximately $75 million of in-force premium from citizens property insurance corporation, florida's state-backed insurance company.
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