HCI Group Inc.'s board has authorized a program to repurchase up to $20 million of the company's common shares during 2018, subject to market conditions.

The program permits the company to periodically repurchase shares for cash in open market purchases, block transactions and privately negotiated transactions in accordance with applicable federal securities laws. In addition, the stock repurchase program may be modified, suspended, terminated or extended by the company any time without prior notice.