HCI profits plummet as weather losses hit bottom line

Florida's HCI Group saw profits fall by more than 75 percent
in Q1 as losses during the period increased by almost half.
The carrier reported net income of $6.1mn for the first three
months of the year, down from $25.4mn in Q1 2015.
HCI reported claims and adjustment expenses of $27.1mn for the
quarter, an increase of 42.6 percent on the same period last
year.
The carrier blamed the uptick on weather-related claims and a
reserve strengthening exercise linked to...