Tampa-based HCI Group, the holding company for Homeowners Choice and TypTap property insurance companies, reported a $15.7 million net income in the third quarter, a strong improvement over Q3 last year, when the group saw a $52 million net loss.
“The company benefited from an improved operating environment in Florida and rising interest rates on our interest-bearing investments,” Group Chairman and CEO Paresh Patel said in a statement this week. “We believe we are seeing the impact of insurance reforms recently enacted by the Florida Legislature.”
