TAMPA, Fla., Dec. 04, 2018 (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 program to repurchase up to $20 million of the company’s common shares through December 31, 2019, subject to market conditions. The company’s previous $20 million repurchase program completed its authorized repurchases on October 3, 2018.

The program will permit 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.

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 services. 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 and the S&P SmallCap 600 Index. HCI Group, Inc. regularly publishes financial and other information in the Investor Information section of the company’s website. For more information about HCI Group and its subsidiaries, visit www.hcigroup.com.