HCI plans $20mn share buyback

The board of Floridian homeowners' insurer HCI Group has
authorised a $20mn share buyback scheme for 2017.
The plan will permit the Tampa-based carrier to buy back shares
in cash transactions through open market purchases, block
transactions and privately negotiated deals.
HCI's share price has increased by 16.6 percent over the
course of this year. After opening at $33.35 at the beginning of
January, the stock was trading at $38.87 when markets closed
yesterday.
The insurer received a boost on.