Homeowners Choice Changes Name to HCI Group

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TAMPA, Fla., May 23, 2013 (GLOBE NEWSWIRE) -- Homeowners Choice, Inc. (NYSE:HCI), a Florida-based holding company, has changed its name to "HCI Group, Inc." as approved by shareholders at its annual shareholders' meeting held yesterday.

According to the company the name change is expected to provide several benefits, including:

  • Improved representation of the company's diversified business activities, which include property and casualty insurance, information technology, real estate and reinsurance.
  • Greater clarity to the company's identity, avoiding confusion between the company and its largest subsidiary, Homeowners Choice Property & Casualty Insurance Company, Inc.
  • Differentiation between the company and the brands of its non-property and casualty insurance enterprises from the "Homeowners Choice" brand, thereby enhancing and strengthening the value of all the company's brands.

About HCI Group, Inc.

HCI Group, Inc. owns enterprises engaged in diverse business activities, including property and casualty insurance, information technology, real estate and reinsurance. The company's largest subsidiary, Homeowners Choice Property & Casualty Insurance Company, Inc., is a leading provider of property and casualty insurance in the state of Florida.

The company's common shares trade on the New York Stock Exchange under the ticker symbol "HCI" and are included in the Russell 2000 Index; its 8% Senior Notes trade on the New York Stock Exchange under the ticker symbol "HCJ;" and its 7% Series A, cumulative redeemable preferred shares trade on the NASDAQ Capital Market under the ticker symbol "HCIIP." For more information about HCI Group, visit www.hcigroup.com.

Forward-Looking Statements

This news release 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 are 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 material adverse effects on the company's business, financial condition and results of operations. HCI Group, Inc. disclaims all obligations to update any forward-looking statements.

CONTACT: Company Contact: Jay Madhu, Vice President of Investor Relations HCI Group, Inc. Tel (813) 405-3660 jmadhu@hcigroup.com Investor Relations Contact: Matt Glover or Michael Koehler Liolios Group, Inc. Tel (949) 574-3860 hci@liolios.com

Source:HCI Group, Inc.