HCI beats despite AOB hit in Florida

Florida homeowners specialist HCI Group revealed a 36 percent
uptick in second quarter net income to $9.5mn even as losses
rose.
The $0.93 per share result exceeded the expectations of five
analysts surveyed by MarketWatch whose forecasts averaged $0.87 per
share.
The Tampa, Florida-based firm outperformed despite a 5.3 percent
increase in losses and loss adjustment expenses to $27.7mn driven
by reserve strengthening amidst an increase in litigation over
assignment of benefits issues.
While the