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HCI Group secures cat loss coverage of up to $888M

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HCI Group secures cat loss coverage of up to $888M

HCI Group Inc. secured coverage of up to $888 million for catastrophic losses in a single event, excluding flood losses, from June 1 through May 31, 2019.

CEO Paresh Patel expects the company to recognize net reinsurance costs of approximately $123 million for the 2018-2019 contract year.