TAMPA, Fla., Oct. 16, 2025 (GLOBE NEWSWIRE) -- HCI Group, Inc. (NYSE:HCI) today announced that its majority owned subsidiary, Exzeo Group, Inc., has launched its initial public offering (“IPO”) pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (the "SEC"). Exzeo is offering 8,000,000 shares of its common stock in the IPO. All shares being offered are primary shares, and HCI Group will retain majority ownership following the IPO. Exzeo intends to grant the underwriters a 30-day option to purchase up to an additional 1,200,000 common shares at the IPO price, less underwriting discounts and commissions. The IPO price is currently expected to be between $20.00 and $22.00 per share. Exzeo has applied to list its common stock on the New York Stock Exchange under the ticker symbol “XZO”.

Exzeo has included in the registration statement specific language under Rule 473(b) promulgated under the Securities Act of 1933, as amended (the “Securities Act”), such that, absent further action from the SEC, the registration statement is expected to become automatically effective on November 4, 2025, pursuant to Section 8(a) of the Securities Act. Exzeo will continue to monitor developments, including the operational status of the SEC, in connection with the proposed IPO.

Truist Securities is acting as lead left bookrunner for the proposed offering. Citizens Capital Markets and William Blair are acting as joint active book-running managers and Fifth Third Securities is acting as a co-manager.

The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus, when available, may be obtained from: Truist Securities, Inc., 740 Battery Ave SE, 3rd Floor, Atlanta, GA 30339, Attention: Prospectus Department, or by email at truistsecurities.prospectus@truist.com; Citizens Capital Markets, 28 State Street, Boston, MA 02109; and William Blair & Company, LLC, 150 North Riverside Plaza, Chicago, Illinois 60606, Attention: Prospectus Department, or by email at prospectus@williamblair.com.

A registration statement on Form S-1 relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. 

About HCI Group, Inc.
HCI Group is a holding company with two distinct operating units. The first unit includes four top-performing insurance companies, a captive reinsurance company, and operations in claims management and real estate. The second unit, called Exzeo Group, is a leading innovator of insurance technology that utilizes advanced underwriting algorithms and data analytics. Exzeo empowers property and casualty insurers to transform underwriting outcomes and achieve industry-leading results.

HCI Group’s common shares trade on the New York Stock Exchange under the ticker symbol "HCI" and are included in the Russell 2000 and 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.

Forward-Looking Statements

This news release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. These statements may relate, among other things, to expectations regarding the size and terms of the proposed IPO, including the offering price, anticipated timing, and the effective date of the registration statement. Words such as "anticipate," "estimate," "expect," "intend," "plan," "confident," "prospects" and "project" and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions, but rather are subject to various risks and uncertainties. Some of these risks and uncertainties are identified in the company's filings with the Securities and Exchange Commission. Should any risks or uncertainties develop into actual events, these developments could have material adverse effects on the company's business, financial condition and results of operations. HCI Group, Inc. disclaims all obligations to update any forward-looking statements.

Company Contact:
Bill Broomall, CFA
Investor Relations
wbroomall@exzeo.com

Investor Relations Contact:
Matt Glover
Gateway Group, Inc.
949-574-3860
HCI@gateway-grp.com