TAMPA, Fla., Dec. 21, 2016 (GLOBE NEWSWIRE) -- The board of directors of HCI Group, Inc. (NYSE:HCI), a holding company primarily engaged in homeowners’ insurance, with additional operations in reinsurance, real estate and information technology, has authorized a plan to repurchase up to $20 million of the company’s common shares during 2017, subject to market conditions.

The plan 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. Moreover, the share repurchase plan may be modified, suspended, terminated or extended by the company any time without prior notice.

About HCI Group, Inc.

HCI Group, Inc. owns subsidiaries engaged in diverse, yet complementary business activities, including homeowners’ insurance, reinsurance, real estate and information technology. 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.