HCI Group subsidiary Exzeo files for initial public offering

HCI Group Inc. (NYSE: HCI) announced that its majority-owned subsidiary Exzeo Group Inc. has filed a registration statement on Form S-1 with the Securities and Exchange Commission for a proposed initial public offering of common stock.

The Tampa-based company has not yet determined the number of shares to be offered or the price range for the proposed offering. The offering remains subject to market conditions, and there is no assurance regarding whether or when it may be completed or the actual size or terms.

Truist Securities, Citizens Capital Markets and William Blair will serve as joint book-running managers for the proposed offering, while Fifth Third Securities will act as co-manager.

Exzeo Group operates as an insurance technology company that develops underwriting algorithms and data analytics for property and casualty insurers. The subsidiary represents one of HCI Group's two operating units, alongside the company's insurance operations that include four insurance companies, a captive reinsurance company, and claims management and real estate operations.

The registration statement has been filed with the SEC but has not yet become effective. Securities cannot be sold until the registration statement becomes effective.

HCI Group's shares trade on the New York Stock Exchange and are included in the Russell 2000 and S&P SmallCap 600 Index. The offering will be made only through a prospectus when available.

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