HCI (HCI) 10-Q 9 May 24 2024 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2024	May 01, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Trading Symbol	HCI
Entity Registrant Name	HCI Group, Inc.
Entity Central Index Key	0001400810
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Common Shares
Security Exchange Name	NYSE
Entity File Number	001-34126
Entity Incorporation, State or Country Code	FL
Entity Tax Identification Number	20-5961396
Entity Address, Address Line One	3802 Coconut Palm Drive
Entity Address, City or Town	Tampa
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33619
City Area Code	813
Local Phone Number	849-9500
Document Quarterly Report	true
Document Transition Report	false
Entity Common Stock, Shares Outstanding		10,476,413

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Assets
Fixed-maturity securities, available for sale, at fair value (amortized cost: $475,170 and $387,687, respectively and allowance for credit losses: $0 and $0, respectively)	$ 470,805	$ 383,238
Equity securities, at fair value (cost: $47,852 and $44,011, respectively)	52,013	45,537
Limited partnership investments	24,015	23,583
Real estate investments	69,096	67,893
Total investments	615,929	520,251
Cash and cash equivalents (a)	655,384	536,478
Restricted cash (a)	3,303	3,287
Receivable from maturities of fixed-maturity securities	0	91,085
Accrued interest and dividends receivable	4,052	3,507
Income taxes receivable (a)	651	0
Deferred income taxes, net	0	512
Premiums receivable, net (allowance: $3,443 and $3,152, respectively)	43,291	38,037
Assumed premiums receivable	0	19,954
Prepaid reinsurance premiums	34,125	86,232
Reinsurance recoverable, net of allowance for credit losses:
Paid losses and loss adjustment expenses (allowance: $0 and $0 respectively)	25,452	19,690
Unpaid losses and loss adjustment expenses (allowance: $69 and $118, respectively)	305,218	330,604
Deferred policy acquisition costs	45,152	42,910
Property and equipment, net	29,314	29,251
Right-of-use assets - operating leases	1,352	1,407
Intangible assets, net	7,046	7,659
Funds withheld for assumed business	14,181	30,087
Other assets (a)	57,184	50,365
Total assets	1,841,634	1,811,316
Liabilities and Equity
Losses and loss adjustment expenses (a)	578,712	585,073
Unearned premiums (a)	499,499	501,157
Advance premiums	26,518	15,895
Reinsurance payable on paid losses and loss adjustment expenses	0	3,145
Ceded reinsurance premiums payable (a)	10,693	8,921
Assumed premiums payable (a)	2,681	850
Accrued expenses	24,699	19,722
Income tax payable	23,184	7,702
Revolving credit facility	50,000	0
Deferred income taxes, net (a)	5,113	0
Long-term debt	184,744	208,495
Lease liabilities - operating leases	1,357	1,408
Other liabilities (a)	36,564	35,623
Total liabilities	1,443,764	1,387,991
Commitments and contingencies (Note 21)
Redeemable noncontrolling interest (Note 18)	0	96,160
Equity:
Common stock (no par value, 40,000,000 shares authorized, 10,276,463 and 9,738,183 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively)	0	0
Additional paid-in capital	116,728	89,568
Retained income	282,056	238,438
Accumulated other comprehensive loss, net of taxes	(3,102)	(3,163)
Total stockholders’ equity	395,682	324,843
Noncontrolling interests	2,188	2,322
Total equity	397,870	327,165
Total liabilities, redeemable noncontrolling interest and equity	$ 1,841,634	$ 1,811,316

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Available-for-sale Debt securities, Amortized cost	$ 475,170	$ 387,687
Available-for-sale Debt securities, Allowance for credit losses	0	0
Equity securities, cost	47,852	44,011
Premiums Receivable, Allowance	3,443	3,152
Paid losses and loss adjustments allowance	0	0
Unpaid losses and loss adjustments allowance	$ 69	$ 118
Common stock, no par value	$ 0	$ 0
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	10,276,463	9,738,183
Common stock, outstanding	10,276,463	9,738,183

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024		Mar. 31, 2023
Revenue
Gross premiums earned	$ 256,644	[1]	$ 180,068	[2]
Premiums ceded	(68,106)		(70,509)
Net premiums earned	188,538		109,559
Net investment income	14,067		17,715
Net realized investment losses	0		(1,149)
Net unrealized investment gains	2,635		529
Policy fee income	1,019		1,090
Other	355		1,285
Total revenue	206,614		129,029
Expenses
Losses and loss adjustment expenses	79,922		60,565
Policy acquisition and other underwriting expenses	22,139		22,720
General and administrative personnel expenses	16,274		13,502
Interest expense	3,149		2,801
Other operating expenses	7,700		6,305
Total expenses	129,184		105,893
Income before income taxes	77,430		23,136
Income tax expense	20,474		5,343
Net (loss) income	56,956		17,793
Net income attributable to redeemable noncontrolling interest	(10,149)		(2,324)
Net loss (income) attributable to noncontrolling interests	804		(131)
Net income after noncontrolling interests	$ 47,611		$ 15,338
Basic earnings per share	$ 4.76		$ 1.78
Diluted earnings per share	$ 3.81		$ 1.54
[1] Gross premiums earned under HCPCI Insurance Operations consist of $ 149,271 from HCPCI and $ 6,111 from a reinsurance company. Gross premiums earned under HCPCI Insurance Operations consist of $ 92,456 from HCPCI and $ 4,535 from a reinsurance company.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 56,956	$ 17,793
Other comprehensive income :
Net unrealized gains arising during the period	52	2,415
Reclassification adjustment for net realized losses	32	738
Total other comprehensive income	84	3,153
Deferred income taxes on above change	(21)	1,810
Total other comprehensive income	63	4,963
Comprehensive income	57,019	22,756
Comprehensive loss (income) attributable to noncontrolling interests	802	(306)
Comprehensive income after noncontrolling interests	$ 57,821	$ 22,450

Consolidated Statements of Equi

Consolidated Statements of Equity (Unaudited) - USD ($)	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Income [Member]	Accumulated Other Comprehensive Income, Net of Tax [Member]	Total Stockholders' Equity [Member]	Noncontrolling Interests [Member]
Beginning Balance at Dec. 31, 2022	$ 161,254,000			$ 172,482,000	$ (9,886,000)	$ 162,596,000	$ (1,342,000)
Beginning Balance, shares at Dec. 31, 2022		8,598,682
Net income (loss)	17,793,000			17,488,000		17,488,000	305,000
Net income attributable to redeemable noncontrolling interest	(2,324,000)			(2,150,000)		(2,150,000)	(174,000)
Total other comprehensive income, net of income taxes	4,963,000				4,788,000	4,788,000	175,000
Issuance of restricted stock, shares		6,000
Forfeiture of restricted stock, shares		(2,125)
Repurchase and retirement of common stock, value	(305,000)		$ (305,000)			(305,000)
Repurchase and retirement of common stock, shares		(5,884)
Dilution from subsidiary stock-based compensation	631,000						631,000
Common stock dividends ($0.40 per share)	(3,432,000)			(3,432,000)		(3,432,000)
Stock-based compensation	1,277,000		1,277,000			1,277,000
Additional paid-in capital shortfall adjustment allocated to retained income			(640,000)	640,000
Ending Balance at Mar. 31, 2023	179,857,000		332,000	185,028,000	(5,098,000)	180,262,000	(405,000)
Ending Balance, shares at Mar. 31, 2023		8,596,673
Beginning Balance at Dec. 31, 2023	327,165,000		89,568,000	238,438,000	(3,163,000)	324,843,000	2,322,000
Beginning Balance, shares at Dec. 31, 2023		9,738,183
Net income (loss)	56,956,000			57,085,000		57,085,000	(129,000)
Net income attributable to redeemable noncontrolling interest	(10,149,000)			(9,474,000)		(9,474,000)	(675,000)
Total other comprehensive income, net of income taxes	63,000				61,000	61,000	2,000
Cashless exercise of common stock warrants		155,049
Forfeiture of restricted stock, shares		(200)
Repurchase and retirement of common stock, value	(556,000)		(556,000)			(556,000)
Repurchase and retirement of common stock, shares		(5,656)
Conversion of senior notes to common stock, Amount	23,449,000		23,449,000			23,449,000
Conversion of senior notes to common stock, Share		389,087
Dilution from subsidiary stock-based compensation	668,000						668,000
Common stock dividends ($0.40 per share)	(3,993,000)			(3,993,000)		(3,993,000)
Stock-based compensation	881,000		881,000			881,000
Deemed dividend on warrant modification	3,386,000		3,386,000			3,386,000
Ending Balance at Mar. 31, 2024	$ 397,870,000		$ 116,728,000	$ 282,056,000	$ (3,102,000)	$ 395,682,000	$ 2,188,000
Ending Balance, shares at Mar. 31, 2024		10,276,463

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Common stock dividends	$ 0.4	$ 0.4
Debt instrument stated interest rate	4.25%

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net income after noncontrolling interests	$ 47,611	$ 15,338
Net income attributable to noncontrolling interests	9,345	2,455
Net income	56,956	17,793
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation expense	1,582	2,106
Net accretion of discount on investments in fixed-maturity securities	(2,148)	(1,845)
Depreciation and amortization	1,003	2,230
Deferred income tax expense	5,604	3,266
Net realized investment losses	0	1,149
Net unrealized investment gains	(2,635)	(529)
Credit loss expense - reinsurance recoverable	(49)	(1)
Net income from limited partnership interests	(195)	(553)
Distributions received from limited partnership interests	0	303
Loss on extinguishment of debt	0	177
Gain on sales of real estate investments	0	(8,936)
Foreign currency remeasurement (gain) loss	(1)	1
Other non-cash items	(19)	71
Changes in operating assets and liabilities:
Accrued interest and dividends receivable	(545)	(573)
Income taxes	14,831	2,100
Premiums receivable, net	(5,254)	(9,968)
Assumed premiums receivable	19,954	0
Prepaid reinsurance premiums	52,107	39,564
Reinsurance recoverable	19,673	91,660
Deferred policy acquisition costs	(2,242)	(1,110)
Funds withheld for assumed business	15,906	3,498
Other assets	(6,657)	(5,590)
Losses and loss adjustment expenses	(6,361)	(57,457)
Unearned premiums	(1,658)	19,786
Advance premiums	10,623	7,247
Assumed reinsurance balances payable	1,831	0
Reinsurance payable on paid losses and loss adjustment expenses	(3,145)	(1,563)
Reinsurance recovered in advance on unpaid losses	0	(19,863)
Ceded reinsurance premiums payable	1,772	(3,523)
Accrued expenses and other liabilities	11,056	19,669
Net cash provided by operating activities	181,989	99,109
Cash flows from investing activities:
Investments in limited partnership interests	(399)	(170)
Distributions received from limited partnership interests	162	1,602
Distribution received from unconsolidated joint venture	0	18
Purchase of property and equipment	(946)	(1,469)
Purchase of real estate investments	(5,244)	(175)
Purchase of fixed-maturity securities	(172,336)	(160,152)
Purchase of equity securities	(7,679)	(6,472)
Purchase of short-term and other investments	0	(10)
Proceeds from sales of real estate investments	0	21,746
Proceeds from sales of fixed-maturity securities	6,030	11,060
Proceeds from calls, repayments and maturities of fixed-maturity securities	172,024	112,497
Proceeds from sales of equity securities	3,516	3,754
Proceeds from sales, redemptions and maturities of short-term and other investments	0	14
Net cash used in investing activities	(4,872)	(17,757)
Cash flows from financing activities:
Cash dividends paid	(3,993)	(3,432)
Net borrowing under revolving credit facility	50,000	0
Cash dividends paid to redeemable noncontrolling interest	(2,923)	(3,012)
Repayment of long-term debt	(128)	(258)
Redemption of long-term debt	(466)	(6,895)
Repurchases of common stock	(557)	(305)
Redemption of redeemable noncontrolling interest	(100,000)	0
Purchase of noncontrolling interests	(33)	(198)
Debt issuance costs	(99)	0
Net cash used in financing activities	(58,199)	(14,100)
Effect of exchange rate changes on cash	4	(3)
Net increase in cash, cash equivalents, and restricted cash	118,922	67,249
Cash, cash equivalents, and restricted cash at beginning of period	539,765	237,763
Cash, cash equivalents, and restricted cash at end of period	658,687	305,012
Supplemental disclosure of cash flow information:
Cash paid for income taxes	38	35
Cash paid for interest	1,052	739
Non-cash investing and financing activities:
Unrealized gain on investments in available-for-sale securities, net of tax	63	4,963
Conversion of 4.25% Convertible Senior Notes	23,450	0
Sale of real estate investments:
Contingent consideration receivable	0	125
Long-term debt obligations assumed by the buyer	0	8,995
Payable on purchases of equity securities	$ 25	$ 0

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical)	Mar. 31, 2024
Statement of Cash Flows [Abstract]
Debt instrument stated interest rate	4.25%

Nature of Operations

Nature of Operations	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	Note 1 -- Nat ure of Operations HCI Group, Inc., together with its subsidiaries (“HCI” or the “Company”), is primarily engaged in the property and casualty insurance business through two Florida domiciled insurance companies, Homeowners Choice Property & Casualty Insurance Company, Inc. (“HCPCI”) and TypTap Insurance Company (“TypTap”). Both HCPCI and TypTap are authorized to underwrite various homeowners’ property and casualty insurance products and allied lines business in the state of Florida and in other states. The operations of each insurance subsidiary are supported by HCI Group, Inc. and certain HCI subsidiaries. The operations of TypTap are also supported by TypTap Insurance Group, Inc. (“TTIG”), the Company’s majority-owned subsidiary, and certain TTIG subsidiaries. The Company emphasizes the use of internally developed technologies to collect and analyze claims and other supplemental data to assist in the underwriting process and generate savings as well as efficiency for the operations of the insurance subsidiaries and other insurance-related businesses. The Company also provides an attorney-in-fact (“AIF”) service. The Company's subsidiary, Core Risk Managers, LLC (“CRM”), serves as the AIF for Condo Owners Reciprocal Exchange (“CORE”), a reciprocal insurance exchange owned by its policyholders. Although the Company does not have any equity interest in CORE, the Company is required to consolidate CORE as its primary beneficiary. See Note 13 -- “Variable Interest Entity” for additional information. In addition, Greenleaf Capital, LLC, the Company’s real estate subsidiary, is primarily engaged in the business of owning and leasing real estate and operating marina facilities. Assumed Business Citizens Assumption During the first quarter of 2024, the Company continued to participate in a take-out program through which the Company assumed insurance policies held by Citizens Property Insurance Corporation (“Citizens”), a Florida state-supported insurer. Approximately 9,800 policies were assumed by TypTap and CORE, representing approximately $ 87,800 in annualized premiums written.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2 -- Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited consolidated financial statements of HCI Group, Inc. and its majority-owned and controlled subsidiaries (collectively, the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information, and the Securities and Exchange Commission (“SEC”) rules for interim financial reporting. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to such rules and regulations. However, in the opinion of management, the accompanying consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the Company’s financial position as of March 31, 2024 and the results of operations and cash flows for the interim periods presented. The results of operations for the interim periods presented are not necessarily indicative of the results of operations to be expected for any subsequent interim period or for the fiscal year ending December 31, 2024. The accompanying unaudited consolidated financial statements and notes thereto should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2023 included in the Company’s Form 10-K, which was filed with the SEC on March 8, 2024. In preparing the interim unaudited consolidated financial statements, management was required to make certain judgments, assumptions, and estimates that affect the reported amounts of assets, liabilities, revenues, expenses and related disclosures at the financial reporting date and throughout the periods being reported upon. Certain of the estimates result from judgments that can be subjective and complex, and consequently actual results may differ from these estimates. Material estimates that are particularly susceptible to significant change in the near term are related to the Company’s losses and loss adjustment expenses, which include amounts estimated for claims incurred but not yet reported. The Company uses various assumptions and actuarial data it believes to be reasonable under the circumstances to make these estimates. In addition, accounting policies specific to reinsurance with retrospective provisions, reinsurance recoverable, deferred income taxes, limited partnership investments, allowance for credit losses, and stock-based compensation expense involve significant judgments and estimates material to the Company’s consolidated financial statements. In the case of assumed business, the Company relies entirely on the ceding insurance company to provide information about premiums, losses, and loss adjustment expenses. When the information is not available at the reporting date, the Company will make estimates based on all recent available data. Accordingly, the actual results could differ significantly from those estimates. All significant intercompany balances and transactions have been eliminated. Revenue from Claims Processing Services Revenue related to claims processing services is included in other revenue in the consolidated statements of income. For the three months ended March 31, 2024 and 2023 , revenues from claims processing services were $ 0 and $ 527 , respectively. Noncontrolling Interests A noncontrolling interest arises when the Company has less than 100 % of the voting rights and economic interests in a subsidiary or a consolidated variable interest entity (“VIE”). The Company has noncontrolling interests attributable to TTIG and CORE, a VIE consolidated by the Company under the VIE model. The noncontrolling interest related to TTIG is periodically adjusted for the expensing of TTIG’s stock-based awards granted to its employees, the interest’s share of TTIG’s net income or loss to common stockholders and change in other comprehensive income or loss. The noncontrolling interest related to CORE is periodically adjusted for CORE’s net surplus contribution and net income or loss since the Company has no equity interest in CORE.

Cash, Cash Equivalents, and Res

Cash, Cash Equivalents, and Restricted Cash	3 Months Ended
	Mar. 31, 2024
Cash and Cash Equivalents [Abstract]
Cash, Cash Equivalents, and Restricted Cash	Note 3 -- Cash, Cash Equivalents, and Restricted Cash The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Company’s consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows. March 31, December 31, 2024 2023 Cash and cash equivalents $ 655,384 $ 536,478 Restricted cash 3,303 3,287 Total $ 658,687 $ 539,765 Restricted cash represents funds in the Company’s sole ownership primarily held by certain states to meet regulatory requirements in which the Company’s insurance subsidiaries conduct business and are not available for immediate business use. Funds withheld in an account for which the Company is a co-owner but not the named beneficiary are not considered restricted cash and are included in funds withheld for assumed business on the consolidated balance sheets. In connection with the sale of the retail shopping center investment property in Melbourne, Florida to a non-affiliate, $ 87 of restricted cash was deposited in escrow in March 2023 and released in February 2024 as post-sale conditions were met.

Investments

Investments	3 Months Ended
	Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Investments	Note 4 -- Investments a) Available-for-Sale Fixed-Maturity Securities The Company holds investments in fixed-maturity securities that are classified as available-for-sale. At March 31, 2024 and December 31, 2023, the cost or amortized cost, allowance for credit loss, gross unrealized gains and losses, and estimated fair value of the Company’s available-for-sale securities by security type were as follows: Cost or Allowance Gross Gross Estimated Cost Loss Gain Loss Value As of March 31, 2024 U.S. Treasury and U.S. government agencies $ 444,189 $ — $ 23 $ ( 3,498 ) $ 440,714 Corporate bonds 30,487 — 65 ( 943 ) 29,609 Exchange-traded debt 494 — — ( 12 ) 482 Total $ 475,170 $ — $ 88 $ ( 4,453 ) $ 470,805 As of December 31, 2023 U.S. Treasury and U.S. government agencies $ 359,630 $ — $ 224 $ ( 3,800 ) $ 356,054 Corporate bonds 27,563 — 116 ( 975 ) 26,704 Exchange-traded debt 494 — — ( 14 ) 480 Total $ 387,687 $ — $ 340 $ ( 4,789 ) $ 383,238 Expected maturities may differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without penalties. The scheduled contractual maturities of fixed-maturity securities as of March 31, 2024 and December 31, 2023 are as follows: March 31, 2024 December 31, 2023 Cost or Estimated Cost or Estimated Amortized Cost Fair Value Amortized Cost Fair Value Available-for-sale Due in one year or less $ 281,977 $ 280,304 $ 234,992 $ 234,025 Due after one year through five years 189,861 187,529 148,935 145,758 Due after five years through ten years 2,838 2,490 3,266 2,974 Due after ten years 494 482 494 481 $ 475,170 $ 470,805 $ 387,687 $ 383,238 Securities on Deposit The fair value of fixed-maturity securities on deposit with various regulatory authorities at March 31, 2024 and December 31, 2023 was $ 1,668 and $ 1,660 , respectively. Sales of Available-for-Sale Fixed-Maturity Securities Proceeds received, and the gross realized gains and losses from sales of available-for-sale fixed-maturity securities, for the three months ended March 31, 2024 and 2023 were as follows: Gross Gross Proceeds Gains Losses Three months ended March 31, 2024 $ 6,030 $ 12 $ ( 44 ) Three months ended March 31, 2023 $ 11,060 $ — $ ( 738 ) Gross Unrealized Losses for Available-for-Sale Fixed-Maturity Securities Securities with gross unrealized loss positions at March 31, 2024 and December 31, 2023, aggregated by investment category and length of time the individual securities have been in a continuous loss position, are as follows: Less Than Twelve Months Twelve Months or Longer Total Gross Estimated Gross Estimated Gross Estimated Unrealized Fair Unrealized Fair Unrealized Fair As of March 31, 2024 Loss Value Loss Value Loss Value U.S. Treasury and U.S. government $ ( 209 ) $ 304,595 $ ( 3,289 ) $ 131,299 $ ( 3,498 ) $ 435,894 Corporate bonds ( 42 ) 4,736 ( 901 ) 18,735 ( 943 ) 23,471 Exchange-traded debt ( 12 ) 482 — — ( 12 ) 482 Total available-for-sale securities $ ( 263 ) $ 309,813 $ ( 4,190 ) $ 150,034 $ ( 4,453 ) $ 459,847 Less Than Twelve Months Twelve Months or Longer Total Gross Estimated Gross Estimated Gross Estimated Unrealized Fair Unrealized Fair Unrealized Fair As of December 31, 2023 Loss Value Loss Value Loss Value U.S. Treasury and U.S. government $ ( 22 ) $ 3,464 $ ( 3,778 ) $ 181,463 $ ( 3,800 ) $ 184,927 Corporate bonds ( 8 ) 1,941 ( 967 ) 19,418 ( 975 ) 21,359 Exchange-traded debt ( 14 ) 481 — — ( 14 ) 481 Total available-for-sale securities $ ( 44 ) $ 5,886 $ ( 4,745 ) $ 200,881 $ ( 4,789 ) $ 206,767 At March 31, 2024 and December 31, 2023 , there were 83 and 65 securities, respectively, in an unrealized loss position. Allowance for Credit Losses of Available-for-Sale Fixed-Maturity Securities The Company regularly reviews its individual investment securities for credit impairment. The Company considers various factors in determining whether a credit loss exists for each individual security, including- • the financial condition and near-term prospects of the issuer, including any specific events that may affect its operations or earnings; • the extent to which the market value of the security has been below its cost or amortized cost; • general market conditions and industry or sector specific factors and other qualitative factors; • nonpayment by the issuer of its contractually obligated interest and principal payments; and • the Company’s intent and ability to hold the investment for a period of time sufficient to allow for the recovery of costs. There was no balance or activity in the allowance for credit losses of available-for-sale fixed-maturity securities during the three months ended March 31, 2024 and 2023. b) Equity Securities The Company holds investments in equity securities measured at fair values which are readily determinable. At March 31, 2024 and December 31, 2023, the cost, gross unrealized gains and losses, and estimated fair value of the Company’s equity securities were as follows: Gross Gross Estimated Cost Gain Loss Value March 31, 2024 $ 47,852 $ 6,123 $ ( 1,962 ) $ 52,013 December 31, 2023 $ 44,011 $ 3,945 $ ( 2,419 ) $ 45,537 The table below presents the portion of unrealized gains and losses in the Company’s consolidated statements of income related to equity securities still held. Three Months Ended March 31, 2024 2023 Net gains recognized $ 2,667 $ 114 Exclude: Net realized gains (losses) recognized for 32 ( 415 ) Net unrealized gains recognized $ 2,635 $ 529 Sales of Equity Securities Proceeds received, and the gross realized gains and losses from sales of equity securities, for the three months ended March 31, 2024 and 2023 were as follows: Gross Gross Proceeds Gains Losses Three months ended March 31, 2024 $ 3,516 $ 173 $ ( 141 ) Three months ended March 31, 2023 $ 3,754 $ 17 $ ( 432 ) c) Limited Partnership Investments The Company has interests in limited partnerships that are not registered or readily tradeable on a securities exchange. These partnerships are private equity funds managed by general partners who make decisions with regard to financial policies and operations. As such, the Company is not the primary beneficiary and does not consolidate these partnerships. The following table provides information related to the Company’s investments in limited partnerships: March 31, 2024 December 31, 2023 Carrying Unfunded Carrying Unfunded Investment Strategy Value Balance (%) (a) Value Balance (%) (a) Primarily in senior secured loans and, to $ 3,415 $ — 15.37 $ 3,295 $ — 15.37 Value creation through active distressed 2,176 — 1.24 2,271 — 1.25 High returns and long-term capital 3,128 — 0.18 3,400 — 0.18 Value-oriented investments in less liquid 3,368 — 0.55 3,306 — 0.55 Value-oriented investments in mature real 7,690 2,543 1.32 7,590 2,543 1.32 Risk-adjusted returns on credit and equity 4,238 1,263 0.55 3,721 1,662 0.55 Total $ 24,015 $ 3,806 $ 23,583 $ 4,205 (a) Represents the Company’s percentage investment in the fund at each balance sheet date. (b) Except under certain circumstances, withdrawals from the funds or any assignments are not permitted. Distributions, except income from late admission of a new limited partner, will be received when underlying investments of the funds are liquidated. (c) The term is expected to be two years following the maturity of the fund’s outstanding leverage. Although the capital commitment period has expired, follow-on investments and pending commitments may require additional fundings. (d) Effective July 1, 2023, this investment is in the process of winding down. Although the capital commitment period has ended, the general partner could still request an additional funding under certain circumstances. (e) At the fund manager’s discretion, the term of the fund may be extended for up to two additional one-year periods. (f) Expected to have a ten-year term. The capital commitment period has expired but the general partner may request additional funding for follow-on investment. (g) With the consent of a supermajority of partners, the term of the fund may be extended for up to three additional one-year periods. (h) Expected to have an eight-year term from the commencement date, which can be extended for up to two additional one-year periods with the consent of either the advisory committee or a majority of limited partners. (i) The capital commitment period has ended but an additional funding may be requested. (j) The term is expected to end November 27, 2027 . The term may be extended for up to four additional one-year periods at the general partner’s discretion, and up to two additional one-year periods with the consent of the advisory committee. (k) Expected to have an eight-year term after the final admission date. The term may be extended for an additional one-year period at the general partner’s discretion, and up to two additional one-year periods with the consent of either the advisory committee or a majority of limited partners. The following is the summary of aggregated unaudited financial information of limited partnerships included in the investment strategy table above, which in certain cases is presented on a three-month lag due to the unavailability of information at the Company’s respective balance sheet dates. The financial statements of these limited partnerships are audited annually. Three Months Ended March 31, 2024 2023 Operating results: Total income* $ 3,066 $ 182,360 Total expenses ( 25,601 ) ( 2,257 ) Net (loss) income $ ( 22,535 ) $ 180,103 * Includes net change in unrealized gains or losses on investments. March 31, December 31, 2024 2023 Balance sheet: Total assets $ 4,155,784 $ 4,072,501 Total liabilities $ 209,841 $ 220,525 For the three months ended March 31, 2024 and 2023 , the Company recognized net investment income from limited partnerships of $ 195 and $ 553 , respectively. Included in net investment income for the three months ended March 31, 2024 was an estimated favorable cha nge in net asset value of $ 100 . During the three months ended March 31, 2024 and 2023 , the Company received total cash distributions of $ 162 and $ 1,905 , respectively, including returns on investment of $ 0 and $ 303 , respectively. At March 31, 2024 and December 31, 2023 , the Company’s net cumulative contributed capital to the partnerships at each respective balance sheet date totaled $ 23,583 and $ 23,346 , respectively, and the Company’s maximum exposure to loss aggregated $ 24,015 and $ 23,583 , respectively. d) Real Estate Investments Real estate investments consist of the following as of March 31, 2024 and December 31, 2023: March 31, December 31, 2024 2023 Land $ 42,272 $ 42,272 Land improvements 4,843 4,387 Buildings and building improvements 18,593 18,594 Tenant and leasehold improvements 1,978 1,869 Other 8,076 7,168 Total, at cost 75,762 74,290 Less: accumulated depreciation and amortization ( 6,666 ) ( 6,397 ) Real estate investments $ 69,096 $ 67,893 Depreciation and amortization expense related to real estate investments was $ 269 and $ 453 for the three months ended March 31, 2024 and 2023, respectively. e) Net Investment Income Net investment income (loss), by source, is summarized as follows: Three Months Ended March 31, 2024 2023 Available-for-sale fixed-maturity securities $ 4,827 $ 4,035 Equity securities 442 296 Investment expense ( 79 ) ( 129 ) Limited partnership investments 195 553 Real estate investments 1,493 9,293 Cash and cash equivalents 7,189 3,667 Net investment income $ 14,067 $ 17,715 For the three months ended March 31, 2023 , income from real estate investments included a net realized gain of $ 6,476 resulting from the sale of the retail shopping center investment property in Melbourne, Florida in March 2023 for a price of $ 18,500 , and also included a net realized gain of $ 2,460 resulting from the sale of the retail shopping center investment property in Sorrento, Florida in March 2023 for a price of $ 13,418 . f) Other Investments From time to time, the Company may invest in financial assets other than stocks, mutual funds, and bonds. For the three months ended March 31, 2024 and 2023, net realized gains related to other investments were $ 0 and $ 4 , respectively.

Comprehensive Income (Loss)

Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Comprehensive Income (Loss)	Note 5 -- Comprehensive Income (Loss) Comprehensive income (loss) includes net income and other comprehensive income or loss, which for the Company includes changes in unrealized gains or losses of available-for-sale fixed-maturity securities carried at fair value and changes to any credit losses related to these investments. Reclassification adjustments for realized (gains) losses are reflected in net realized investment gains (losses) on the consolidated statements of income. The components of other comprehensive income or loss and the related tax effects allocated to each component were as follows: Three Months Ended Three Months Ended March 31, 2024 March 31, 2023 Before Income Net of Before Income Net of Tax Tax Effect Tax Tax Tax Effect Tax Net unrealized gains $ 52 $ 13 $ 39 $ 2,415 $ ( 1,997 ) $ 4,412 Reclassification adjustment for net 32 8 $ 24 738 187 551 Total other comprehensive income $ 84 $ 21 $ 63 $ 3,153 $ ( 1,810 ) $ 4,963

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 6 -- Fair Value Measurements The Company records and discloses certain financial assets at their estimated fair values. The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad levels as follows: Level 1 – Unadjusted quoted prices in active markets for identical assets. Level 2 – Other inputs that are observable for the asset, either directly or indirectly such as quoted prices for identical assets that are not observable throughout the full term of the asset. Level 3 – Inputs that are unobservable. Valuation Methodology Cash and Cash Equivalents Cash and cash equivalents primarily consist of money-market funds and certificates of deposit maturing within 90 days. Their carrying value approximates fair value due to the short maturity and high liquidity of these funds. Restricted Cash Restricted cash represents cash held by state authorities and the carrying value approximates fair value. Fixed-Maturity and Equity Securities Estimated fair values of the Company’s fixed-maturity and equity securities are determined in accordance with U.S. GAAP, using valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. Fair values are generally measured using quoted prices in active markets for identical securities or other inputs that are observable either directly or indirectly, such as quoted prices for similar securities. In those instances where observable inputs are not available, fair values are measured using unobservable inputs. Unobservable inputs reflect the Company’s own assumptions about the assumptions that market participants would use in pricing the security and are developed based on the best information available in the circumstances. Fair value estimates derived from unobservable inputs are significantly affected by the assumptions used, including the discount rates and the estimated amounts and timing of future cash flows. The derived fair value estimates cannot be substantiated by comparison to independent markets and are not necessarily indicative of the amounts that would be realized in a current market exchange. The estimated fair values for securities that do not trade on a daily basis are determined by management, utilizing prices obtained from an independent pricing service and information provided by brokers, which are level 2 inputs. Management reviews the assumptions and methods utilized by the pricing service and then compares the relevant data and pricing to broker-provided data. The Company gains assurance of the overall reasonableness and consistent application of the assumptions and methodologies, and compliance with accounting standards for fair value determination through ongoing monitoring of the reported fair values. Revolving Credit Facility From time to time, the Company has an amount outstanding under a revolving credit facility. The interest rate is variable and is periodically adjusted based on the Secured Overnight Financing Rate (“SOFR”) plus a ten basis points adjustment plus a margin based on the debt-to-capital ratio. As a result, carrying value, when outstanding, approximates fair value. Long-Term Debt The following table summarizes components of the Company’s long-term debt and methods used in estimating their fair values: Maturity Date Valuation Methodology 4.75 % Convertible Senior Notes 2042 Quoted price 4.25 % Convertible Senior Notes * Quoted price 4.55 % Promissory Note 2036 Discounted cash flow method/Level 3 inputs 5.50 % Promissory Note 2033 Discounted cash flow method/Level 3 inputs *Debt derecognized in March 2024. See Note 10 -- “ Long-Term Debt” for additional information. Assets Measured at Estimated Fair Value on a Recurring Basis The following tables present information about the Company’s financial assets measured at estimated fair value on a recurring basis. The tables indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value as of March 31, 2024 and December 31, 2023: Fair Value Measurements Using (Level 1) (Level 2) (Level 3) Total As of March 31, 2024 Financial Assets: Cash and cash equivalents $ 655,384 $ — $ — $ 655,384 Restricted cash $ 3,303 $ — $ — $ 3,303 Fixed-maturity securities: U.S. Treasury and U.S. government agencies $ 432,781 $ 7,933 $ — $ 440,714 Corporate bonds 23,188 6,421 — 29,609 Exchange-traded debt 482 — — 482 Total available-for-sale securities $ 456,451 $ 14,354 $ — $ 470,805 Equity securities $ 52,013 $ — $ — $ 52,013 Fair Value Measurements Using (Level 1) (Level 2) (Level 3) Total As of December 31, 2023 Financial Assets: Cash and cash equivalents $ 536,478 $ — $ — $ 536,478 Restricted cash $ 3,287 $ — $ — $ 3,287 Fixed-maturity securities: U.S. Treasury and U.S. government agencies $ 348,145 $ 7,909 $ — $ 356,054 Corporate bonds 20,267 6,437 — 26,704 Exchange-traded debt 480 — — 480 Total available-for-sale securities $ 368,892 $ 14,346 $ — $ 383,238 Equity securities $ 45,537 $ — $ — $ 45,537 Liabilities Carried at Other Than Fair Value The following tables present fair value information for liabilities that are carried on the consolidated balance sheets at amounts other than fair value as of March 31, 2024 and December 31, 2023: Carrying Fair Value Measurements Using Estimated Value (Level 1) (Level 2) (Level 3) Fair Value As of March 31, 2024 Financial Liabilities: Revolving credit facility $ 50,000 $ — $ 50,000 $ — $ 50,000 Long-term debt: 4.75 % Convertible Senior Notes $ 168,516 $ — $ 268,717 $ — $ 268,717 5.50 % Promissory Note 11,654 — — 11,327 11,327 4.55 % Promissory Note 4,573 — — 4,249 4,249 Total long-term debt $ 184,743 $ — $ 268,717 $ 15,576 $ 284,293 Carrying Fair Value Measurements Using Estimated Value (Level 1) (Level 2) (Level 3) Fair Value As of December 31, 2023 Financial Liabilities: Long-term debt: 4.75 % Convertible Senior Notes $ 168,230 $ — $ 215,114 $ — $ 215,114 4.25 % Convertible Senior Notes 23,916 — 34,545 — 34,545 5.50 % Promissory Note 11,707 — — 11,512 11,512 4.55 % Promissory Note 4,640 — — 4,349 4,349 Total long-term debt $ 208,493 $ — $ 249,659 $ 15,861 $ 265,520

Intangible Assets, Net

Intangible Assets, Net	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets, Net	Note 7 -- Intangible Assets, Net The Company’s intangible assets, net consist of the following: March 31, December 31, 2024 2023 In-place leases (a) 2,221 2,221 Policy renewal rights - United 10,100 10,100 Non-compete agreements - United (b) 314 314 Total, at cost 12,635 12,635 Less: accumulated amortization ( 5,589 ) ( 4,976 ) Intangible assets, net $ 7,046 $ 7,659 (a) Amortization related to the Haines City property is expected to start in June 2024. (b) Fully amortized The remaining weighted-average amortization periods for the intangible assets as of March 31, 2024 are summarized in the table below: In-place leases 18.4 years Policy renewal rights - United 2.1 years At March 31, 2024 and December 31, 2023, contingent liabilities related to renewal rights intangible assets were $ 371 , and are included in other liabilities on the consolidated balance sheets.

Other Assets

Other Assets	3 Months Ended
	Mar. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Note 8 -- Other Assets The following table summarizes the Company’s other assets: March 31, December 31, 2024 2023 Benefits receivable related to retrospective reinsurance contract $ 51,282 $ 44,289 Reimbursement and fees receivable under TPA service — 629 Prepaid expenses 2,551 2,882 Deposits 418 409 Lease acquisition costs, net 814 833 Other 2,119 1,323 Total other assets $ 57,184 $ 50,365

Revolving Credit Facility

Revolving Credit Facility	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Revolving Credit Facility	Note 9 -- Revolving Credit Facility As of March 31, 2024 , the Company had $ 50,000 outstanding under the credit facility, which was used to partially fund the redemption of the TTIG Series A Preferred Stock held by Centerbridge Partners, L.P. (“Centerbridge”) on January 22, 2024. See Note 19 -- “Redeemable Noncontrolling Interest” for additional information. For the three months ended March 31, 2024 and 2023, interest expense was $ 738 a nd $ 25 , respectively, includi ng $ 15 a nd $ 25 of amortization of issuance costs, respectively. At March 31, 2024, the Company was in compliance with all required covenants and had available borrowing capacity of $ 25,000 .

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Long-Term Debt	Note 10 -- Long-Term Debt The following table summarizes the Company’s long-term debt: March 31, December 31, 2024 2023 4.75 % Convertible Senior Notes, due June 1, 2042 $ 172,500 $ 172,500 4.25 % Convertible Senior Notes, due March 1, 2037 (a) — 23,916 4.55 % Promissory Note, due through August 1, 2036 4,631 4,700 5.50 % Promissory Note, due through July 1, 2033 11,848 11,906 Finance lease liabilities, due through October 15, 2024 1 2 Total principal amount 188,980 213,024 Less: unamortized issuance costs ( 4,236 ) ( 4,529 ) Total long-term debt $ 184,744 $ 208,495 (a) Notes converted or redeemed during the first quarter of 2024 The following table summarizes future maturities of long-term debt as of March 31, 2024 , which takes into consideration the assumption that the 4.75 % Convertible Senior Notes are repurchased at their next earliest call date: Due in 12 months following March 31, 2024 $ 524 2025 549 2026 577 2027 173,107 2028 638 Thereafter 13,585 Total $ 188,980 Information with respect to interest expense related to long-term debt is as follows: Three Months Ended March 31, 2024 2023 Interest Expense: Contractual interest $ 2,118 $ 2,497 Non-cash expense (b) 293 279 Total $ 2,411 $ 2,776 (b) Represents amortization of debt issuance costs. 4.25% Convertible Senior Notes During the first quarter of 2024, the Company notified the holders of its outstanding 4.25 % Convertible Senior Notes due 2037 that the Company had elected to redeem the remaining $ 23,916 principal balance of the 4.25 % Convertible Senior Notes. As a result of this notice, the 4.25 % Convertible Senior Notes became immediately convertible into the Company’s common shares, with a redemption date of March 15, 2024. The conversion rate of the Company’s 4.25 % Convertible Senior Notes was 16.5892 shares of common stock for each $ 1 in principal amount, which was the equivalent of approximately $ 60.25 per share. The Company converted $ 23,450 in aggregate principal of 4.25 % Convertible Senior Notes for aggregate consideration of 389,087 shares of HCI’s common stock plus $ 1 cash consideration in lieu of fractional shares. The remaining 4.25 % Convertible Senior Notes were redeemed for $ 466 on March 15, 2024. 4.75% Convertible Senior Notes The conversion rate of the 4.75 % Convertible Senior Notes is currently 12.4166 shares of common stock for each $1 in principal amount, which is the equivalent of approximately $ 80.54 per share. The effective interest rate for the 4.75 % Convertible Senior Notes, taking into account both cash and non-cash components, approximates 5.6 %. Had a 20-year term been used for the amortization of the issuance costs of the 4.75 % Convertible Senior Notes, the annual effective interest rate charged to earnings would have decreased to approximately 5.0 %. As of March 31, 2024 , the remaining amortization period of the debt issuance costs was expected to be 3.17 years for the 4.75 % Convertible Senior Notes.

Reinsurance

Reinsurance	3 Months Ended
	Mar. 31, 2024
Insurance [Abstract]
Reinsurance	Note 11 -- Reinsurance Reinsurance obtained from other insurance companies The Company cedes a portion of its homeowners’ insurance exposure to other entities under catastrophe excess of loss reinsurance contracts and a portion of its flood insurance exposure under one quota share reinsurance agreement. Ceded premiums under most catastrophe excess of loss reinsurance contracts are subject to revision resulting from subsequent adjustments in total insured value. Under the terms of the quota share reinsurance agreement, the Company is entitled to a 30 % ceding commission on ceded premiums written and a profit commission equal to 10 % of net profit. The Company remains liable for claims payments in the event that any reinsurer is unable to meet its obligations under the reinsurance agreements. Failure of reinsurers to honor their obligations could result in losses to the Company. The Company evaluates the financial condition of its reinsurers and monitors concentrations of credit risk arising from similar geographic regions, activities or economic characteristics of the reinsurers to minimize its exposure to significant losses from reinsurer insolvencies. The Company contracts with a number of reinsurers to secure its annual reinsurance coverage, which generally becomes effective June 1 st of each year. The Company purchases reinsurance each year taking into consideration probable maximum losses and reinsurance market conditions. The impact of the reinsurance contracts on premiums written and earned is as follows: Three Months Ended March 31, 2024 2023 Premiums Written: Direct $ 211,895 $ 207,423 Assumed 43,091 ( 7,569 ) Gross written 254,986 199,854 Ceded ( 68,106 ) ( 70,509 ) Net premiums written $ 186,880 $ 129,345 Premiums Earned: Direct $ 189,675 $ 172,905 Assumed 66,969 7,163 Gross earned 256,644 180,068 Ceded ( 68,106 ) ( 70,509 ) Net premiums earned $ 188,538 $ 109,559 During the three months ended March 31, 2024 and 2023 , the Company recognized ceded losses of $ 0 and $ 2,751 , respectively, as reductions in losses and loss adjustment expenses. At March 31, 2024 and December 31, 2023 , there were 58 an d 33 reinsurers, respectively, participating in the Company’s reinsurance program. Total net amounts recoverable and receivable from reinsurers at March 31, 2024 and December 31, 2023 were $ 330,670 and $ 350,294 , respectively. Approximatel y 64.7 % of the reinsurance recoverable balance at March 31, 2024 was receivable from four reinsurers. Based on all available information considered in the rating-based method, the Company recognized decreases in credit loss expen se of $ 49 and $ 1 for the three months ended March 31, 2024 and 2023 , respectively. Allowances for credit losses related to the reinsurance recoverable balance were $ 69 and $ 118 at March 31, 2024 and December 31, 2023, respectively. One of the existing reinsurance contracts includes retrospective provisions that adjust premiums in the event losses are minimal or zero. For the three months ended March 31, 2024 and 2023 , the Company recognized reductions in premiums ceded of $ 6,993 in each of the respective periods, related to these adjustments in the consolidated statements of income. See Note 21 -- “Commitments and Contingencies” for additional information. Amounts receivable pursuant to retrospective provisions are reflected in other assets. At March 31, 2024 and December 31, 2023 , other assets included $ 51,282 and $ 44,289 , respectively, of amounts receivable pursuant to retrospective provisions. Management believes the credit risk associated with the collectability of these accrued benefits is minimal as the amount receivable is concentrated with one reinsurer with a good credit rating and the Company monitors the creditworthiness of this reinsurer based on available information about the reinsurer’s financial condition. Reinsurance provided to other insurance companies United From 2021 to 2022, the Company, through HCPCI and TypTap, provided quota share reinsurance on all in-force, new and renewal policies issued by United Property & Casualty Insurance Company, an insurance subsidiary of United Insurance Holdings Corporation (“United”), in the states of Connecticut, New Jersey, Massachusetts, and Rhode Island (collectively “Northeast Region”). From 2022 to 2023, the Company’s insurance subsidiaries also provided quota share reinsurance on all of United’s personal lines insurance business in the states of Georgia, North Carolina, and South Carolina (collectively “Southeast Region”). In conjunction with these reinsurance agreements, the Company entered into renewal rights agreements with United which provided the Company with the right to renew and/or replace United’s insurance policies at the end of their respective policy periods. In February 2023, United’s Florida-domiciled residential insurance subsidiary was placed into receivership by the State of Florida due to its financial insolvency and, as a result, the Company ceased providing quota share reinsurance on United policies. The majority of the policies under these reinsurance agreements have been renewed and/or replaced by the Company. On February 14, 2024, upon approval from the receiver of United, TypTap received $ 15,000 from the trust account that holds funds withheld for the assumed business on the Southeast Region quota share reinsurance agreement. In addition, $ 4,462 was withdrawn in February 2024 by the receiver from the trust accounts to settle for paid losses and LAE related to the Northeast Region and the Southeast Region quota share reinsurance agreements. At March 31, 2024 and December 31, 2023, the Company had a net balance of $ 582 due to United related to the Northeast Region, representing ceding commission payable. For the three months ended March 31, 2023 , $ 7,569 of assumed premiums written related to the Southeast Region’s insurance policies were derecognized, which primarily resulted from the return of the unearned portion of assumed written premiums subsequent to the Company’s renewal and/or replacement of insurance policies in the Southeast Region. At March 31, 2024 , the Company had a net balance of $ 1,438 due to United related to the Southeast Region, consisting of premiums payable of $ 1,712 offset by ceding commission receivable of $ 274 . At December 31, 2023 , the Company had a net balance of $ 4,203 due to United related to the Southeast Region, consisting of premiums payable of $ 1,712 and payable on paid losses and loss adjustment expenses of $ 2,765 , offset by ceding commission receivable of $ 274 . At March 31, 2024 , the Company had a net amount due to United of $ 2,020 and funds withheld for assumed business in trust accounts totaling $ 14,181 for the benefit of policies assumed from United. The Company ceased providing TPA services to United in March 2023. The Company cannot predict the actions a receiver might take, which may include restrictions on, or use of, funds held in trust. Any such actions could have a material adverse effect on the Company’s financial position and results of operations. At March 31, 2024 and December 31, 2023 , the balance of funds withheld for assumed business related to the Company’s quota share reinsurance agreements with United was $ 14,181 and $ 30,087 , respectively. Citizens Assumption Assumed premiums written related to Citizens policies were $ 43,091 for the three months ended March 31, 2024 as opposed to $ 0 for the three months ended March 31, 2023 .

Losses and Loss Adjustment Expe

Losses and Loss Adjustment Expenses	3 Months Ended
	Mar. 31, 2024
Insurance [Abstract]
Losses and Loss Adjustment Expenses	Note 12 -- Losses and Loss Adjustment Expenses The liability for losses and loss adjustment expenses (“LAE”) is determined on an individual case basis for all claims reported. The liability also includes amounts for unallocated expenses, anticipated future claims development and losses incurred but not reported. The Company primarily writes insurance in states which could be exposed to hurricanes or other natural catastrophes. The occurrence of a major catastrophe could have a significant effect on the Company’s quarterly results and cause a temporary disruption of the normal operations of the Company. However, the Company is unable to predict the frequency or severity of any such events that may occur in the near term or thereafter. Activity in the liability for losses and LAE is summarized as follows: Three Months Ended March 31, 2024 2023 Net balance, beginning of period* $ 254,351 $ 246,546 Incurred, net of reinsurance, related to: Current period 79,922 56,698 Prior periods — 3,867 Total incurred, net of reinsurance 79,922 60,565 Paid, net of reinsurance, related to: Current period ( 17,789 ) ( 11,110 ) Prior periods ( 43,059 ) ( 49,950 ) Total paid, net of reinsurance ( 60,848 ) ( 61,060 ) Net balance, end of period 273,425 246,051 Add: reinsurance recoverable before allowance for credit losses 305,287 560,257 Gross balance, end of period $ 578,712 $ 806,308 * Net balance represents beginning-of-period liability for unpaid losses and LAE less beginning-of-period reinsurance recoverable for unpaid losses and LAE. The establishment of loss and LAE reserves is an inherently uncertain process and changes in loss and LAE reserve estimates are expected as these estimates are subject to the outcome of future events. Changes in estimates, or differences between estimates and amounts ultimately paid, are reflected in the operating results of the period during which such estimates are adjusted. Losses and LAE for the three months ended March 31, 2024 included net estimated losses of approximately $ 21,678 related to Citizens policies assumed. Excluding Citizens-related losses, lower losses and LAE for the three months ended March 31, 2024 resulted from a decrease in claims and litigation related to Florida policies.

Variable Interest Entity

Variable Interest Entity	3 Months Ended
	Mar. 31, 2024
Variable Interest Entity, Measure of Activity [Abstract]
Variable Interest Entity	Note 13 -- Variable Interest Entity CORE, a Florida-domiciled reciprocal insurance exchange, is owned by its policyholders, referred to as subscribers, and was organized to offer commercial residential multiple peril and wind insurance products. Each subscriber owns part of CORE by buying an insurance policy and making a surplus contribution. CORE is managed by CRM, an AIF company which is a wholly-owned subsidiary of HCI. At the formation date of CORE, management determined that CORE is a variable interest entity (“VIE”). Since HCI has the power to direct the activities of CORE that most significantly affect CORE’s economic performance and the obligation to absorb losses or the right to receive benefits from CORE via the subordinated surplus note and the management and service agreements, HCI is considered the primary beneficiary of CORE and is required to consolidate CORE. As HCI has no equity at risk, CORE’s equity and results of operations are included in noncontrolling interests. CORE’s assets are legally restricted for the purpose of fulfilling obligations specific to CORE. The creditors of CORE have no legal right to pursue additional sources of payment from the Company. The following table summarizes the assets and liabilities related to CORE, a consolidated VIE, which are included in the accompanying consolidated balance sheets: March 31, December 31, 2024 2023 Assets: Cash and cash equivalents $ 44,411 $ 24,635 Restricted cash 302 300 Income taxes receivable 651 — Other assets 270 65 Total assets $ 45,634 $ 25,000 Liabilities: Losses and loss adjustment expenses $ 1,178 $ — Unearned premiums 15,862 — Ceded reinsurance premiums payable 1,986 — Assumed premiums payable 236 — Deferred income taxes, net 342 — Other liabilities 183 — Total liabilities $ 19,787 $ —

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Segment Information	Note 14 -- Segment Information The Company identifies its operating divisions based on managerial emphasis, organizational structure and revenue source. The Company has five reportable segments: HCPCI insurance operations, TypTap Group, reciprocal exchange operations, real estate operations, and corporate and other. Due to their economic characteristics, the Company’s property and casualty insurance division and reinsurance operations, excluding the insurance operations under TypTap Group and reciprocal exchange operations, are grouped together into one reportable segment under HCPCI insurance operations. The TypTap Group segment includes its property and casualty insurance operations, information technology operations and its management company’s activities. The reciprocal exchange segment represents the insurance operations of CORE, a consolidated VIE. The real estate operations segment includes companies engaged in operating commercial properties the Company owns for investment purposes or for use in its own operations. The corporate and other segment represents the activities of the holding companies and any other companies that do not meet the quantitative and qualitative thresholds for a reportable segment. The determination of segments may change over time due to changes in operational emphasis, revenues, and results of operations. The Company’s chief executive officer, who serves as the Company’s chief operating decision maker, evaluates each division’s financial and operating performance based on revenue and operating income. For the three months ended March 31, 2024 and 2023, revenues from the HCPCI insurance operations segment before intracompany elimination represente d 63.7 % and 61.2 %, respectively, and revenues from the TypTap Group segment represented 33.8 % and 36.5 %, respectively, of total revenues of all operating segments. At March 31, 2024 and December 31, 2023, HCPCI insurance operations’ total assets represented 53.1 % and 55.3 %, respectively, and TypTap Group’s total assets represented 34.9 % a nd 33.6 %, respectively, of the combined assets of all operating segments. The following tables present segment information reconciled to the Company’s consolidated statements of income. Intersegment transactions are not eliminated from segment results. However, intracompany transactions are eliminated in segment results below. For Three Months Ended HCPCI TypTap Reciprocal Real Corporate/ Reclassification/ Consolidated Revenue: Gross premiums earned (c) $ 155,382 $ 103,748 $ 3,625 $ — $ — $ ( 6,111 ) $ 256,644 Premiums ceded ( 43,326 ) ( 28,673 ) ( 2,218 ) — — 6,111 ( 68,106 ) Net premiums earned 112,056 75,075 1,407 — — — 188,538 Net income from investment portfolio 8,228 4,543 56 — 4,694 ( 819 ) 16,702 Policy fee income 504 515 — — — — 1,019 Other 3,538 1,495 — 3,447 1,030 ( 9,155 ) 355 Total revenue 124,326 81,628 1,463 3,447 5,724 ( 9,974 ) 206,614 Expenses: Losses and loss adjustment expenses 39,014 40,553 1,268 — — ( 913 ) 79,922 Amortization of deferred policy 10,136 10,795 — — — — 20,931 Other policy acquisition expenses 579 519 546 — — ( 436 ) 1,208 Stock-based compensation expense 369 701 — — 512 — 1,582 Interest expense — 1,500 812 223 2,926 ( 2,312 ) 3,149 Depreciation and amortization 138 1,088 — 380 160 ( 276 ) 1,490 Personnel and other operating expenses 11,748 9,970 54 1,434 3,733 ( 6,037 ) 20,902 Total expenses 61,984 65,126 2,680 2,037 7,331 ( 9,974 ) 129,184 Income (loss) before income taxes $ 62,342 $ 16,502 $ ( 1,217 ) $ 1,410 $ ( 1,607 ) $ — $ 77,430 Total revenue from non-affiliates (d) $ 114,956 $ 88,083 $ 1,916 $ 2,606 $ 4,085 Gross premiums written $ 91,875 $ 143,624 $ 19,487 (a) Other revenue under real estate primarily consisted of rental income from investment properties. (b) Other revenue under corporate and other primarily consisted of revenue from marina business and management fees for attorney-in-fact services. (c) Gross premiums earned under HCPCI Insurance Operations consist of $ 149,271 from HCPCI and $ 6,111 from a reinsurance company. (d) Represents amounts before reclassification of certain revenue and expenses to conform with an insurance company’s presentation. HCPCI Insurance TypTap Real Corporate/ Reclassification/ For Three Months Ended March 31, 2023 Operations Group Estate (a) Other (b) Elimination Consolidated Revenue: Gross premiums earned (c) $ 96,991 $ 87,612 $ — $ — $ ( 4,535 ) $ 180,068 Premiums ceded ( 40,195 ) ( 34,823 ) — — 4,509 ( 70,509 ) Net premiums earned 56,796 52,789 — — ( 26 ) 109,559 Net income from investment portfolio 2,954 3,379 — 1,900 8,862 17,095 Gain from sales of real estate investments — — 8,936 — ( 8,936 ) — Policy fee income 563 527 — — — 1,090 Other 4,653 1,643 2,923 595 ( 8,529 ) 1,285 Total revenue 64,966 58,338 11,859 2,495 ( 8,629 ) 129,029 Expenses: Losses and loss adjustment expenses 28,782 33,056 — — ( 1,273 ) 60,565 Amortization of deferred policy acquisition 9,621 11,863 — — — 21,484 Other policy acquisition expenses 655 611 — — ( 30 ) 1,236 Stock-based compensation expense 496 829 — 781 — 2,106 Interest expense — 431 203 2,598 ( 431 ) 2,801 Depreciation and amortization 139 956 627 202 ( 537 ) 1,387 Loss on extinguishment of debt — — 177 — ( 177 ) — Personnel and other operating expenses 9,919 9,433 1,554 1,589 ( 6,181 ) 16,314 Total expenses 49,612 57,179 2,561 5,170 ( 8,629 ) 105,893 Income (loss) before income taxes $ 15,354 $ 1,159 $ 9,298 $ ( 2,675 ) $ — $ 23,136 Total revenue from non-affiliates (d) $ 56,929 $ 61,286 $ 11,051 $ 1,926 Gross premiums written $ 85,153 $ 114,701 (a) Other revenue under real estate primarily consisted of rental income from investment properties. (b) Other revenue under corporate and other primarily consisted of revenue from marina business. (c) Gross premiums earned under HCPCI Insurance Operations consist of $ 92,456 from HCPCI and $ 4,535 from a reinsurance company. (d) Represents amounts before reclassification of certain revenue and expenses to conform with an insurance company’s presentation. The following table presents segment assets reconciled to the Company’s total assets on the consolidated balance sheets: March 31, December 31, 2024 2023 Segments: HCPCI Insurance Operations $ 921,327 $ 933,116 TypTap Group 669,986 623,366 Reciprocal Exchange Operations 47,776 25,000 Real Estate Operations 131,893 132,257 Corporate and Other 334,304 233,952 Consolidation and Elimination ( 263,652 ) ( 136,375 ) Total assets $ 1,841,634 $ 1,811,316

Leases

Leases	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Leases	Note 15 -- Leases The table below summarizes the Company’s right-of-use (“ROU”) assets and corresponding liabilities for operating and finance leases: March 31, December 31, 2024 2023 Operating leases: ROU assets $ 1,352 $ 1,407 Liabilities $ 1,357 $ 1,408 Finance leases: ROU assets $ 1 $ 1 Liabilities $ 1 $ 2 The following table summarizes the Company’s operating and finance leases in which the Company is a lessee: Renewal Other Terms and Class of Assets Initial Term Option Conditions Operating lease: Office equipment 36 to 63 months Yes (a) Office space 5 to 9 years Yes (a), (b) Finance lease: Office equipment 3.25 years Not applicable (c) (a) There are no variable lease payments. (b) Rent escalation provisions exist. (c) There is a bargain purchase option. As of March 31, 2024, maturities of lease liabilities were as follows: Leases Operating Finance Due in 12 months following March 31, 2024 $ 287 $ 1 2025 296 — 2026 306 — 2027 316 — 2028 160 — Thereafter 219 — Total lease payments 1,584 1 Less: interest 227 — Total lease obligations $ 1,357 $ 1 The following table provides quantitative information with regards to the Company’s operating and finance leases: Three Months Ended March 31, 2024 2023 Lease costs: Finance lease costs: Amortization – ROU assets* $ — $ 4 Operating lease costs* 68 52 Short-term lease costs* 92 93 Total lease costs $ 160 $ 149 Cash paid for amounts included in the Operating cash flows – operating leases $ 70 $ 44 Financing cash flows – finance leases $ 1 $ 4 March 31, 2024 Weighted-average remaining lease term: Finance leases (in years) 0.5 Operating leases (in years) 5.4 Weighted-average discount rate: Finance leases (%) 2.4 % Operating leases (%) 6.0 % * Included in other operating expenses on the consolidated statements of income. The following table summarizes the Company’s operating leases in which the Company is a lessor: Renewal Other Terms and Class of Assets Initial Term Option Conditions Operating lease: Office space 1 to 3 years Yes (d) Retail space 3 to 20 years Yes (d) Boat docks/wet slips 1 to 12 months Yes (d) (d) There are no purchase options.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 16 -- Income Taxes A valuation allowance must be established for deferred tax assets when it is more likely than not that the deferred tax assets will not be realized based on available evidence both positive and negative, including recent operating results, available tax planning strategies, and projected future taxable income. As of December 31, 2023, management concluded, based on the evaluation of the positive and negative evidence, that is more likely than not that the deferred tax assets will be realized and therefore no valuation allowance on the Company’s deferred tax assets is required. The Company evaluates the realizability of its deferred tax assets each quarter, and as of March 31, 2024, based on all of the available evidence, management concluded that it is more likely than not that the deferred tax assets will be realized. During the three months ended March 31, 2024 and 2023 , the Company recorded approximately $ 20,474 and $ 5,343 , respectively, of income tax expense, which resulted in effective tax rates of 26.4 % and 23.1 %, respectivel y. The increase in the effective tax rate as compared with the corresponding period in the prior year was primarily attributable to a lower prior year effective tax rate resulting from the release of the valuation allowance during 2023. The Company’s estimated annual effective tax rate differs from the statutory federal tax rate due to state and foreign income taxes as well as certain nondeductible and tax-exempt items.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Note 17 -- Earnings Per Share U.S. GAAP requires the Company to use the two-class method in computing basic earnings (loss) per share since holders of the Company’s restricted stock have the right to share in dividends, if declared, equally with common stockholders. These participating securities affect the computation of both basic and diluted earnings (loss) per share during periods of net income or loss. For a majority-owned subsidiary, its basic and diluted earnings (loss) per share are first computed separately. Then, the Company’s proportionate share in that majority-owned subsidiary’s earnings is added to the computation of both basic and diluted earnings (loss) per share at a consolidated level. A summary of the numerator and denominator of the basic and diluted earnings per common share is presented below: Three Months Ended Three Months Ended March 31, 2024 March 31, 2023 Income Shares (a) Per Share Income Shares (a) Per Share (Numerator) (Denominator) Amount (Numerator) (Denominator) Amount Net income $ 56,956 $ 17,793 Less: Net income attributable to ( 10,149 ) ( 2,324 ) Less: Net loss (income) 804 ( 131 ) Net income attributable to HCI 47,611 15,338 Less: Income attributable to ( 1,218 ) ( 564 ) Basic Earnings Per Share: Income allocated to common 46,393 9,751 $ 4.76 14,774 8,278 $ 1.78 Effect of Dilutive Securities: * Stock options — 280 — 45 Convertible senior notes 1,640 2,282 1,921 2,537 Warrants — 305 — — Diluted Earnings Per Share: Income available to common $ 48,033 12,618 $ 3.81 $ 16,695 10,860 $ 1.54 (a) Shares in thousands. * For the three months ended March 31, 2023 , warrants were excluded due to anti-dilutive effect.

Redeemable Noncontrolling Inter

Redeemable Noncontrolling Interest	3 Months Ended
	Mar. 31, 2024
Noncontrolling Interest [Abstract]
Redeemable Noncontrolling Interest	Note 18 -- Redeemable Noncontrolling Interest On January 22, 2024, TTIG entered into a Stock Redemption Agreement with Centerbridge which allowed TTIG to redeem all of the TTIG Series A Preferred Stock held by Centerbridge. The redemption totaled $ 100,000 plus accrued and unpaid dividends of approximately $ 2,923 . At redemption, the difference between the consideration transferred of $ 102,923 and the redemption date carrying value of $ 96,695 is recorded as a deemed dividend and is included in net income attributable to redeemable noncontrolling interest which is subtracted from net income when calculating income available to common stockholders. The following table summarizes the activity of redeemable noncontrolling interest during the three months ended March 31, 2024 and 2023: 2024 2023 Balance at January 1 $ 96,160 $ 93,553 Increase (decrease): Accrued cash dividends 424 1,637 Accretion - increasing dividend rates 111 687 Adjustment to maximum redemption value 6,228 — Dividends paid ( 2,923 ) ( 3,012 ) Redemption ( 100,000 ) — Balance at March 31 $ — $ 92,865 For the three months ended March 31, 2024 , net income attributable to redeemable noncontrolling interest was $ 10,149 , consisting of accrued cash dividends of $ 424 , accretion related to increasing dividend rates of $ 111 , an adjustment to maximum redemption value of $ 6,228 , and a deemed dividend resulting from warrant modifications of $ 3,386 . See Note 19 -- “Equity” for additional information regarding the modifications to the warrants held by Centerbridge. For the three months ended March 31, 2023 , net income attributable to redeemable noncontrolling interest was $ 2,324 , consisting of accrued cash dividends of $ 1,637 and accretion related to increasing dividend rates of $ 687 .

Equity

Equity	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Equity	Note 19 -- Equity Stockholders’ Equity Common Stock On January 22, 2024, a new shelf registration statement on Form S-3 (the “Shelf Registration”) was filed, replacing the Company’s old universal shelf registration statement filed in September 2023. The new Shelf Registration permits the Company to offer and sell its common stock, preferred stock, debt securities, warrants, and stock purchase contracts and units, from time to time, subject to market conditions and its capital needs. The Shelf Registration will also enable Centerbridge to sell all or a portion of the amended and restated warrant or the shares issuable pursuant to the warrant. As a part of the Shelf Registration, the Company also announced the implementation of an “at-the-market” facility (the “ATM facility”) under which the Company would have the ability to raise up to $ 75,000 through the issuance of new shares of common stock into the market if it were to so choose. On January 24, 2024 , the Company’s Board of Directors declared a quarterly dividend of $ 0.40 per common share. The dividends were paid on March 15, 2024 to stockholders of record on February 16, 2024 . Warrants In connection with the redemption of the TTIG Series A Preferred Stock held by Centerbridge in January 2024, HCI, for the benefit of TTIG, extended the expiration dates of 450,000 of the underlying warrant shares, which will now expire in 150,000 share increments on December 31, 2026 , December 31, 2027 , and December 31, 2028 . The remaining 300,000 share warrants retained their original expiration date of February 26, 2025 and were exercised on March 11, 2024 through a cashless transaction. The warrant modifications resulted in a $ 3,386 increase in the fair value of the warrants, which is recorded as a deemed dividend by decreasing retained income and increasing additional paid-in capital. The amount of deemed dividend is included in net income attributable to redeemable noncontrolling interest which is subtracted from net income when calculating net income available to common stockholders. At March 31, 2024 , there were warrants outstanding and exercisable, held by Centerbridge, to purchase 450,000 shares of HCI common stock at an exercise price of $ 54.40 . Noncontrolling Interests TTIG During the three months ended March 31, 2024 and 2023 , TTIG repurchased and retired a total of 22,787 and 34,108 shares, respectively, of its common stock surrendered by its employees to satisfy payroll tax liabilities associated with the vesting of restricted shares. The total cost of purchasing noncontrolling interests during the three months ended March 31, 2024 and 2023 w as $ 33 and $ 198 , respectively. At March 31, 2024 , there were 80,329,238 shares of TTIG’s common stock outstanding, of which 5,329,238 shares were not owned by HCI. CORE As described in Note 13 -- “V ariable Interest Entity,” the Company has no equity interest at risk in CORE and CORE receives surplus contributions from its subscribers in addition to policy premiums. The surplus contribution is payable to CORE on or prior to the initial effective date of coverage and on or prior to the effective date of all endorsements generating an additional premium. The surplus contribution made during a policy term may be returned on a pro-rata basis to a subscriber in the event of policy cancellation. CORE, organized in November 2023, did not write any policies during the first quarter of 2024.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Note 20 -- Stock-Based Compensation 2012 Omnibus Incentive Plan The Company currently has outstanding stock-based awards granted under the Plan which is currently active and available for future grants. At March 31, 2024 , there were 962,406 shares available for grant. Stock Options Stock options granted and outstanding under the incentive plan generally vest over a period of four years , except for those with market conditions, and are exercisable over the contractual term of ten years . A summary of the stock option activity for the three months ended March 31, 2024 and 2023 is as follows (option amounts not in thousands): Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Options Price Term Value Outstanding at January 1, 2024 590,000 $ 51.54 5.9 years $ 21,156 Outstanding at March 31, 2024 590,000 $ 51.54 5.6 years $ 38,077 Exercisable at March 31, 2024 590,000 $ 51.54 5.6 years $ 38,077 Outstanding at January 1, 2023 440,000 $ 45.25 5.6 years $ — Outstanding at March 31, 2023 440,000 $ 45.25 5.3 years $ 3,146 Exercisable at March 31, 2023 412,500 $ 45.07 5.2 years $ 3,031 There wer e no options exercised d uring the three months ended March 31, 2024 and 2023. For the three months ended March 31, 2024 and 2023 , the Company recognized $ 14 and $ 90 , respectively, of compensation expense related to stock options which is included in general and administrative personnel expenses. There were no deferred tax benefits related to stock options recognized for the three months ended March 31, 2024 and 2023. At March 31, 2024 and December 31, 2023 , there was $ 0 and $ 14 , respectively, of unrecognized compensation expense related to nonvested stock options. Restricted Stock Awards From time to time, the Company has granted and may grant restricted stock awards to certain executive officers, other employees, and non-employee directors in connection with their service to the Company. The terms of the Company’s outstanding restricted stock grants may include service, performance, and market-based conditions. The determination of fair value with respect to the awards containing only service-based conditions is based on the market value of the Company’s common stock on the grant date. For awards with market-based conditions, the fair value is determined using a Monte Carlo simulation method, which calculates many potential outcomes for an award and then establishes fair value based on the most likely outcome. Information with respect to the activity of unvested restricted stock awards during the three months ended March 31, 2024 and 2023 is as follows: Number of Weighted Restricted Average Stock Grant Date Awards Fair Value Nonvested at January 1, 2024 271,417 $ 37.12 Vested ( 29,690 ) $ 56.05 Forfeited ( 200 ) $ 51.87 Nonvested at March 31, 2024 241,527 $ 34.78 Nonvested at January 1, 2023 342,459 $ 39.86 Granted 6,000 $ 51.76 Vested ( 40,352 ) $ 54.83 Forfeited ( 2,125 ) $ 40.33 Nonvested at March 31, 2023 305,982 $ 38.11 The Company recognized compensation expense related to restricted stock, which is included in general and administrative personnel expenses, of $ 867 and $ 1,187 for the three months ended March 31, 2024 and 2023, respectively. At March 31, 2024 and December 31, 2023, there was approximately $ 3,165 and $ 4,043 , respectively, of total unrecognized compensation expense related to nonvested restricted stock arrangements. The Company expects to recognize the remaining compensation expense over a weighted-average period of 1.4 years. The following table summarizes information about deferred tax benefits recognized and tax benefits realized related to restricted stock awards and paid dividends, and the fair value of vested restricted stock for the three months ended March 31, 2024 and 2023. Three Months Ended March 31, 2024 2023 Deferred tax benefits recognized $ 99 $ 263 Tax benefits realized for restricted stock and paid dividends $ 511 $ 299 Fair value of vested restricted stock $ 1,664 $ 2,213 Subsidiary Equity Plan For the three months ended March 31, 2024 and 2023 , TypTap Group recognized compensation expense related to its stock-based awards of $ 701 and $ 829 , respectively. At March 31, 2024 and December 31, 2023 , there was $ 3,696 and $ 4,438 , respectively, of unrecognized compensation expense related to nonvested restricted stock and stock options.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 21 -- Commitments and Contingencies Obligations under One Multi-Year Reinsurance Contract As of March 31, 2024 , the Company has a contractual obligation related to one multi-year reinsurance contract entered into effective June 1, 2022. The contract may be cancelled only with the other party’s consent or when its experience account is positive at the end of each contract year. The future minimum aggregate premium amount payable to the reinsurer is $ 91,350 due in June 2024. Capital Commitments As described in Note 4 -- “Investments” under Limited Partnership Investments , the Company is contractually committed to capital contributions for limited partnership interests. At March 31, 2024 , there was an aggregate unfunded balance of $ 3,806 . FIGA Assessments The Company’s insurance subsidiaries, as member insurers, are required to collect and remit the pass-through assessments to FIGA on a quarterly basis. As of March 31, 2024, the FIGA assessments payable by the Company were $ 1,651 .

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Note 22 -- Subsequent Events On April 1, 2024, the Company repaid $ 2,000 to the line of credit, reducing the outstanding balance under the revolving credit facility to $ 48,000 . On April 17, 2024, the Company awarded Paresh Patel, its Chief Executive Officer, 200,000 restricted shares of common stock. The shares will vest equally over a period of four years , with vesting dates of March 15, 2025, 2026, 2027, and 2028, under the condition that the price per share reaches $ 200 for a period of 30 consecutive trading days. On April 23, 2024, CORE assumed 148 policies from Citizens, representing approximately $ 15,700 in annualized premiums written. On April 24, 2024 , the Company’s Board of Directors declared a quarterly dividend of $ 0.40 per common share. The dividends are payable on June 21 , 2024 to stockholders of record on May 17 , 2024 .

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements of HCI Group, Inc. and its majority-owned and controlled subsidiaries (collectively, the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information, and the Securities and Exchange Commission (“SEC”) rules for interim financial reporting. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to such rules and regulations. However, in the opinion of management, the accompanying consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the Company’s financial position as of March 31, 2024 and the results of operations and cash flows for the interim periods presented. The results of operations for the interim periods presented are not necessarily indicative of the results of operations to be expected for any subsequent interim period or for the fiscal year ending December 31, 2024. The accompanying unaudited consolidated financial statements and notes thereto should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2023 included in the Company’s Form 10-K, which was filed with the SEC on March 8, 2024. In preparing the interim unaudited consolidated financial statements, management was required to make certain judgments, assumptions, and estimates that affect the reported amounts of assets, liabilities, revenues, expenses and related disclosures at the financial reporting date and throughout the periods being reported upon. Certain of the estimates result from judgments that can be subjective and complex, and consequently actual results may differ from these estimates. Material estimates that are particularly susceptible to significant change in the near term are related to the Company’s losses and loss adjustment expenses, which include amounts estimated for claims incurred but not yet reported. The Company uses various assumptions and actuarial data it believes to be reasonable under the circumstances to make these estimates. In addition, accounting policies specific to reinsurance with retrospective provisions, reinsurance recoverable, deferred income taxes, limited partnership investments, allowance for credit losses, and stock-based compensation expense involve significant judgments and estimates material to the Company’s consolidated financial statements. In the case of assumed business, the Company relies entirely on the ceding insurance company to provide information about premiums, losses, and loss adjustment expenses. When the information is not available at the reporting date, the Company will make estimates based on all recent available data. Accordingly, the actual results could differ significantly from those estimates. All significant intercompany balances and transactions have been eliminated.
Noncontrolling Interests	Noncontrolling Interests A noncontrolling interest arises when the Company has less than 100 % of the voting rights and economic interests in a subsidiary or a consolidated variable interest entity (“VIE”). The Company has noncontrolling interests attributable to TTIG and CORE, a VIE consolidated by the Company under the VIE model. The noncontrolling interest related to TTIG is periodically adjusted for the expensing of TTIG’s stock-based awards granted to its employees, the interest’s share of TTIG’s net income or loss to common stockholders and change in other comprehensive income or loss. The noncontrolling interest related to CORE is periodically adjusted for CORE’s net surplus contribution and net income or loss since the Company has no equity interest in CORE.
Revenue from Claims Processing Services	Revenue from Claims Processing Services Revenue related to claims processing services is included in other revenue in the consolidated statements of income. For the three months ended March 31, 2024 and 2023 , revenues from claims processing services were $ 0 and $ 527 , respectively.

Cash, Cash Equivalents, and R_2

Cash, Cash Equivalents, and Restricted Cash (Tables)	3 Months Ended
	Mar. 31, 2024
Cash and Cash Equivalents [Abstract]
Summary of Cash, Cash Equivalents, and Restricted Cash	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Company’s consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows. March 31, December 31, 2024 2023 Cash and cash equivalents $ 655,384 $ 536,478 Restricted cash 3,303 3,287 Total $ 658,687 $ 539,765

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2024
Summary of Amortized Cost, Allowance for Credit Loss, Gross Unrealized Gains and Losses, and Estimated Fair Value of Available-for-Sale Securities	The Company holds investments in fixed-maturity securities that are classified as available-for-sale. At March 31, 2024 and December 31, 2023, the cost or amortized cost, allowance for credit loss, gross unrealized gains and losses, and estimated fair value of the Company’s available-for-sale securities by security type were as follows: Cost or Allowance Gross Gross Estimated Cost Loss Gain Loss Value As of March 31, 2024 U.S. Treasury and U.S. government agencies $ 444,189 $ — $ 23 $ ( 3,498 ) $ 440,714 Corporate bonds 30,487 — 65 ( 943 ) 29,609 Exchange-traded debt 494 — — ( 12 ) 482 Total $ 475,170 $ — $ 88 $ ( 4,453 ) $ 470,805 As of December 31, 2023 U.S. Treasury and U.S. government agencies $ 359,630 $ — $ 224 $ ( 3,800 ) $ 356,054 Corporate bonds 27,563 — 116 ( 975 ) 26,704 Exchange-traded debt 494 — — ( 14 ) 480 Total $ 387,687 $ — $ 340 $ ( 4,789 ) $ 383,238
Scheduled Contractual Maturities of Fixed-Maturity Securities	The scheduled contractual maturities of fixed-maturity securities as of March 31, 2024 and December 31, 2023 are as follows: March 31, 2024 December 31, 2023 Cost or Estimated Cost or Estimated Amortized Cost Fair Value Amortized Cost Fair Value Available-for-sale Due in one year or less $ 281,977 $ 280,304 $ 234,992 $ 234,025 Due after one year through five years 189,861 187,529 148,935 145,758 Due after five years through ten years 2,838 2,490 3,266 2,974 Due after ten years 494 482 494 481 $ 475,170 $ 470,805 $ 387,687 $ 383,238
Summary of Proceeds Received and Gross Realized Gains and Losses from Sales of Available-for-Sale Securities	Proceeds received, and the gross realized gains and losses from sales of available-for-sale fixed-maturity securities, for the three months ended March 31, 2024 and 2023 were as follows: Gross Gross Proceeds Gains Losses Three months ended March 31, 2024 $ 6,030 $ 12 $ ( 44 ) Three months ended March 31, 2023 $ 11,060 $ — $ ( 738 )
Summary of Securities with Gross Unrealized Loss Positions Aggregated by Investment Category	Securities with gross unrealized loss positions at March 31, 2024 and December 31, 2023, aggregated by investment category and length of time the individual securities have been in a continuous loss position, are as follows: Less Than Twelve Months Twelve Months or Longer Total Gross Estimated Gross Estimated Gross Estimated Unrealized Fair Unrealized Fair Unrealized Fair As of March 31, 2024 Loss Value Loss Value Loss Value U.S. Treasury and U.S. government $ ( 209 ) $ 304,595 $ ( 3,289 ) $ 131,299 $ ( 3,498 ) $ 435,894 Corporate bonds ( 42 ) 4,736 ( 901 ) 18,735 ( 943 ) 23,471 Exchange-traded debt ( 12 ) 482 — — ( 12 ) 482 Total available-for-sale securities $ ( 263 ) $ 309,813 $ ( 4,190 ) $ 150,034 $ ( 4,453 ) $ 459,847 Less Than Twelve Months Twelve Months or Longer Total Gross Estimated Gross Estimated Gross Estimated Unrealized Fair Unrealized Fair Unrealized Fair As of December 31, 2023 Loss Value Loss Value Loss Value U.S. Treasury and U.S. government $ ( 22 ) $ 3,464 $ ( 3,778 ) $ 181,463 $ ( 3,800 ) $ 184,927 Corporate bonds ( 8 ) 1,941 ( 967 ) 19,418 ( 975 ) 21,359 Exchange-traded debt ( 14 ) 481 — — ( 14 ) 481 Total available-for-sale securities $ ( 44 ) $ 5,886 $ ( 4,745 ) $ 200,881 $ ( 4,789 ) $ 206,767
Summary of Amortized Cost, Gross Unrealized Gains and Losses, and Estimated Fair Value of Equity Securities	At March 31, 2024 and December 31, 2023, the cost, gross unrealized gains and losses, and estimated fair value of the Company’s equity securities were as follows: Gross Gross Estimated Cost Gain Loss Value March 31, 2024 $ 47,852 $ 6,123 $ ( 1,962 ) $ 52,013 December 31, 2023 $ 44,011 $ 3,945 $ ( 2,419 ) $ 45,537
Summary of Unrealized Gains and Losses for Equity Securities	The table below presents the portion of unrealized gains and losses in the Company’s consolidated statements of income related to equity securities still held. Three Months Ended March 31, 2024 2023 Net gains recognized $ 2,667 $ 114 Exclude: Net realized gains (losses) recognized for 32 ( 415 ) Net unrealized gains recognized $ 2,635 $ 529
Summary of Proceeds Received, Gross Realized Gains and Losses from Sales of Equity Securities	Proceeds received, and the gross realized gains and losses from sales of equity securities, for the three months ended March 31, 2024 and 2023 were as follows: Gross Gross Proceeds Gains Losses Three months ended March 31, 2024 $ 3,516 $ 173 $ ( 141 ) Three months ended March 31, 2023 $ 3,754 $ 17 $ ( 432 )
Schedule of Company's Investments in Limited Partnerships	The following table provides information related to the Company’s investments in limited partnerships: March 31, 2024 December 31, 2023 Carrying Unfunded Carrying Unfunded Investment Strategy Value Balance (%) (a) Value Balance (%) (a) Primarily in senior secured loans and, to $ 3,415 $ — 15.37 $ 3,295 $ — 15.37 Value creation through active distressed 2,176 — 1.24 2,271 — 1.25 High returns and long-term capital 3,128 — 0.18 3,400 — 0.18 Value-oriented investments in less liquid 3,368 — 0.55 3,306 — 0.55 Value-oriented investments in mature real 7,690 2,543 1.32 7,590 2,543 1.32 Risk-adjusted returns on credit and equity 4,238 1,263 0.55 3,721 1,662 0.55 Total $ 24,015 $ 3,806 $ 23,583 $ 4,205 (a) Represents the Company’s percentage investment in the fund at each balance sheet date. (b) Except under certain circumstances, withdrawals from the funds or any assignments are not permitted. Distributions, except income from late admission of a new limited partner, will be received when underlying investments of the funds are liquidated. (c) The term is expected to be two years following the maturity of the fund’s outstanding leverage. Although the capital commitment period has expired, follow-on investments and pending commitments may require additional fundings. (d) Effective July 1, 2023, this investment is in the process of winding down. Although the capital commitment period has ended, the general partner could still request an additional funding under certain circumstances. (e) At the fund manager’s discretion, the term of the fund may be extended for up to two additional one-year periods. (f) Expected to have a ten-year term. The capital commitment period has expired but the general partner may request additional funding for follow-on investment. (g) With the consent of a supermajority of partners, the term of the fund may be extended for up to three additional one-year periods. (h) Expected to have an eight-year term from the commencement date, which can be extended for up to two additional one-year periods with the consent of either the advisory committee or a majority of limited partners. (i) The capital commitment period has ended but an additional funding may be requested. (j) The term is expected to end November 27, 2027 . The term may be extended for up to four additional one-year periods at the general partner’s discretion, and up to two additional one-year periods with the consent of the advisory committee. (k) Expected to have an eight-year term after the final admission date. The term may be extended for an additional one-year period at the general partner’s discretion, and up to two additional one-year periods with the consent of either the advisory committee or a majority of limited partners.
Summary of Unaudited Financial Information and Unaudited Financial Position	The following table summarizes the assets and liabilities related to CORE, a consolidated VIE, which are included in the accompanying consolidated balance sheets: March 31, December 31, 2024 2023 Assets: Cash and cash equivalents $ 44,411 $ 24,635 Restricted cash 302 300 Income taxes receivable 651 — Other assets 270 65 Total assets $ 45,634 $ 25,000 Liabilities: Losses and loss adjustment expenses $ 1,178 $ — Unearned premiums 15,862 — Ceded reinsurance premiums payable 1,986 — Assumed premiums payable 236 — Deferred income taxes, net 342 — Other liabilities 183 — Total liabilities $ 19,787 $ —
Summary of Real Estate Investments	Real estate investments consist of the following as of March 31, 2024 and December 31, 2023: March 31, December 31, 2024 2023 Land $ 42,272 $ 42,272 Land improvements 4,843 4,387 Buildings and building improvements 18,593 18,594 Tenant and leasehold improvements 1,978 1,869 Other 8,076 7,168 Total, at cost 75,762 74,290 Less: accumulated depreciation and amortization ( 6,666 ) ( 6,397 ) Real estate investments $ 69,096 $ 67,893
Investment Income (Loss) Summarized	Net investment income (loss), by source, is summarized as follows: Three Months Ended March 31, 2024 2023 Available-for-sale fixed-maturity securities $ 4,827 $ 4,035 Equity securities 442 296 Investment expense ( 79 ) ( 129 ) Limited partnership investments 195 553 Real estate investments 1,493 9,293 Cash and cash equivalents 7,189 3,667 Net investment income $ 14,067 $ 17,715
Limited Partnership [Member]
Summary of Unaudited Financial Information and Unaudited Financial Position	The following is the summary of aggregated unaudited financial information of limited partnerships included in the investment strategy table above, which in certain cases is presented on a three-month lag due to the unavailability of information at the Company’s respective balance sheet dates. The financial statements of these limited partnerships are audited annually. Three Months Ended March 31, 2024 2023 Operating results: Total income* $ 3,066 $ 182,360 Total expenses ( 25,601 ) ( 2,257 ) Net (loss) income $ ( 22,535 ) $ 180,103 * Includes net change in unrealized gains or losses on investments. March 31, December 31, 2024 2023 Balance sheet: Total assets $ 4,155,784 $ 4,072,501 Total liabilities $ 209,841 $ 220,525

Comprehensive Income (Loss) (Ta

Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Schedule of Components of Other Comprehensive Income or Loss and Related Tax Effects Allocated to Each Component	The components of other comprehensive income or loss and the related tax effects allocated to each component were as follows: Three Months Ended Three Months Ended March 31, 2024 March 31, 2023 Before Income Net of Before Income Net of Tax Tax Effect Tax Tax Tax Effect Tax Net unrealized gains $ 52 $ 13 $ 39 $ 2,415 $ ( 1,997 ) $ 4,412 Reclassification adjustment for net 32 8 $ 24 738 187 551 Total other comprehensive income $ 84 $ 21 $ 63 $ 3,153 $ ( 1,810 ) $ 4,963

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Components of Long-Term Debt and Methods Used in Estimating Fair Values	The following table summarizes components of the Company’s long-term debt and methods used in estimating their fair values: Maturity Date Valuation Methodology 4.75 % Convertible Senior Notes 2042 Quoted price 4.25 % Convertible Senior Notes * Quoted price 4.55 % Promissory Note 2036 Discounted cash flow method/Level 3 inputs 5.50 % Promissory Note 2033 Discounted cash flow method/Level 3 inputs *Debt derecognized in March 2024. See Note 10 -- “ Long-Term Debt” for additional information.
Assets Measured at Estimated Fair Value on a Recurring Basis	The following tables present information about the Company’s financial assets measured at estimated fair value on a recurring basis. The tables indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value as of March 31, 2024 and December 31, 2023: Fair Value Measurements Using (Level 1) (Level 2) (Level 3) Total As of March 31, 2024 Financial Assets: Cash and cash equivalents $ 655,384 $ — $ — $ 655,384 Restricted cash $ 3,303 $ — $ — $ 3,303 Fixed-maturity securities: U.S. Treasury and U.S. government agencies $ 432,781 $ 7,933 $ — $ 440,714 Corporate bonds 23,188 6,421 — 29,609 Exchange-traded debt 482 — — 482 Total available-for-sale securities $ 456,451 $ 14,354 $ — $ 470,805 Equity securities $ 52,013 $ — $ — $ 52,013 Fair Value Measurements Using (Level 1) (Level 2) (Level 3) Total As of December 31, 2023 Financial Assets: Cash and cash equivalents $ 536,478 $ — $ — $ 536,478 Restricted cash $ 3,287 $ — $ — $ 3,287 Fixed-maturity securities: U.S. Treasury and U.S. government agencies $ 348,145 $ 7,909 $ — $ 356,054 Corporate bonds 20,267 6,437 — 26,704 Exchange-traded debt 480 — — 480 Total available-for-sale securities $ 368,892 $ 14,346 $ — $ 383,238 Equity securities $ 45,537 $ — $ — $ 45,537
Schedule of Fair Value Information for Financial Liabilities Carried on Balance Sheet	The following tables present fair value information for liabilities that are carried on the consolidated balance sheets at amounts other than fair value as of March 31, 2024 and December 31, 2023: Carrying Fair Value Measurements Using Estimated Value (Level 1) (Level 2) (Level 3) Fair Value As of March 31, 2024 Financial Liabilities: Revolving credit facility $ 50,000 $ — $ 50,000 $ — $ 50,000 Long-term debt: 4.75 % Convertible Senior Notes $ 168,516 $ — $ 268,717 $ — $ 268,717 5.50 % Promissory Note 11,654 — — 11,327 11,327 4.55 % Promissory Note 4,573 — — 4,249 4,249 Total long-term debt $ 184,743 $ — $ 268,717 $ 15,576 $ 284,293 Carrying Fair Value Measurements Using Estimated Value (Level 1) (Level 2) (Level 3) Fair Value As of December 31, 2023 Financial Liabilities: Long-term debt: 4.75 % Convertible Senior Notes $ 168,230 $ — $ 215,114 $ — $ 215,114 4.25 % Convertible Senior Notes 23,916 — 34,545 — 34,545 5.50 % Promissory Note 11,707 — — 11,512 11,512 4.55 % Promissory Note 4,640 — — 4,349 4,349 Total long-term debt $ 208,493 $ — $ 249,659 $ 15,861 $ 265,520

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets, Net	The Company’s intangible assets, net consist of the following: March 31, December 31, 2024 2023 In-place leases (a) 2,221 2,221 Policy renewal rights - United 10,100 10,100 Non-compete agreements - United (b) 314 314 Total, at cost 12,635 12,635 Less: accumulated amortization ( 5,589 ) ( 4,976 ) Intangible assets, net $ 7,046 $ 7,659 (a) Amortization related to the Haines City property is expected to start in June 2024. (b) Fully amortized
Schedule of Remaining Weighted-Average Amortization Period for Intangible Assets	The remaining weighted-average amortization periods for the intangible assets as of March 31, 2024 are summarized in the table below: In-place leases 18.4 years Policy renewal rights - United 2.1 years

Other Assets (Tables)

Other Assets (Tables)	3 Months Ended
	Mar. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Summary of Other Assets	The following table summarizes the Company’s other assets: March 31, December 31, 2024 2023 Benefits receivable related to retrospective reinsurance contract $ 51,282 $ 44,289 Reimbursement and fees receivable under TPA service — 629 Prepaid expenses 2,551 2,882 Deposits 418 409 Lease acquisition costs, net 814 833 Other 2,119 1,323 Total other assets $ 57,184 $ 50,365

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Summary of Long-term Debt	The following table summarizes the Company’s long-term debt: March 31, December 31, 2024 2023 4.75 % Convertible Senior Notes, due June 1, 2042 $ 172,500 $ 172,500 4.25 % Convertible Senior Notes, due March 1, 2037 (a) — 23,916 4.55 % Promissory Note, due through August 1, 2036 4,631 4,700 5.50 % Promissory Note, due through July 1, 2033 11,848 11,906 Finance lease liabilities, due through October 15, 2024 1 2 Total principal amount 188,980 213,024 Less: unamortized issuance costs ( 4,236 ) ( 4,529 ) Total long-term debt $ 184,744 $ 208,495 (a) Notes converted or redeemed during the first quarter of 2024
Summary of Future Maturities of Long-Term Debt	The following table summarizes future maturities of long-term debt as of March 31, 2024 , which takes into consideration the assumption that the 4.75 % Convertible Senior Notes are repurchased at their next earliest call date: Due in 12 months following March 31, 2024 $ 524 2025 549 2026 577 2027 173,107 2028 638 Thereafter 13,585 Total $ 188,980
Schedule of Interest Expense Related to Long-Term Debt	Information with respect to interest expense related to long-term debt is as follows: Three Months Ended March 31, 2024 2023 Interest Expense: Contractual interest $ 2,118 $ 2,497 Non-cash expense (b) 293 279 Total $ 2,411 $ 2,776 (b) Represents amortization of debt issuance costs.

Reinsurance (Tables)

Reinsurance (Tables)	3 Months Ended
	Mar. 31, 2024
Insurance [Abstract]
Summary of Impact of the Reinsurance Contracts on Premiums Written and Earned	The impact of the reinsurance contracts on premiums written and earned is as follows: Three Months Ended March 31, 2024 2023 Premiums Written: Direct $ 211,895 $ 207,423 Assumed 43,091 ( 7,569 ) Gross written 254,986 199,854 Ceded ( 68,106 ) ( 70,509 ) Net premiums written $ 186,880 $ 129,345 Premiums Earned: Direct $ 189,675 $ 172,905 Assumed 66,969 7,163 Gross earned 256,644 180,068 Ceded ( 68,106 ) ( 70,509 ) Net premiums earned $ 188,538 $ 109,559

Losses and Loss Adjustment Ex_2

Losses and Loss Adjustment Expenses (Tables)	3 Months Ended
	Mar. 31, 2024
Insurance [Abstract]
Liability for Unpaid Losses and Loss Adjustment Expenses	Activity in the liability for losses and LAE is summarized as follows: Three Months Ended March 31, 2024 2023 Net balance, beginning of period* $ 254,351 $ 246,546 Incurred, net of reinsurance, related to: Current period 79,922 56,698 Prior periods — 3,867 Total incurred, net of reinsurance 79,922 60,565 Paid, net of reinsurance, related to: Current period ( 17,789 ) ( 11,110 ) Prior periods ( 43,059 ) ( 49,950 ) Total paid, net of reinsurance ( 60,848 ) ( 61,060 ) Net balance, end of period 273,425 246,051 Add: reinsurance recoverable before allowance for credit losses 305,287 560,257 Gross balance, end of period $ 578,712 $ 806,308 * Net balance represents beginning-of-period liability for unpaid losses and LAE less beginning-of-period reinsurance recoverable for unpaid losses and LAE.

Variable Interest Entity (Table

Variable Interest Entity (Tables)	3 Months Ended
	Mar. 31, 2024
Variable Interest Entity, Measure of Activity [Abstract]
Summary of Unaudited Financial Information and Unaudited Financial Position	The following table summarizes the assets and liabilities related to CORE, a consolidated VIE, which are included in the accompanying consolidated balance sheets: March 31, December 31, 2024 2023 Assets: Cash and cash equivalents $ 44,411 $ 24,635 Restricted cash 302 300 Income taxes receivable 651 — Other assets 270 65 Total assets $ 45,634 $ 25,000 Liabilities: Losses and loss adjustment expenses $ 1,178 $ — Unearned premiums 15,862 — Ceded reinsurance premiums payable 1,986 — Assumed premiums payable 236 — Deferred income taxes, net 342 — Other liabilities 183 — Total liabilities $ 19,787 $ —

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Summary of Segment Information Reconciled to Consolidated Statements of Income	The following tables present segment information reconciled to the Company’s consolidated statements of income. Intersegment transactions are not eliminated from segment results. However, intracompany transactions are eliminated in segment results below. For Three Months Ended HCPCI TypTap Reciprocal Real Corporate/ Reclassification/ Consolidated Revenue: Gross premiums earned (c) $ 155,382 $ 103,748 $ 3,625 $ — $ — $ ( 6,111 ) $ 256,644 Premiums ceded ( 43,326 ) ( 28,673 ) ( 2,218 ) — — 6,111 ( 68,106 ) Net premiums earned 112,056 75,075 1,407 — — — 188,538 Net income from investment portfolio 8,228 4,543 56 — 4,694 ( 819 ) 16,702 Policy fee income 504 515 — — — — 1,019 Other 3,538 1,495 — 3,447 1,030 ( 9,155 ) 355 Total revenue 124,326 81,628 1,463 3,447 5,724 ( 9,974 ) 206,614 Expenses: Losses and loss adjustment expenses 39,014 40,553 1,268 — — ( 913 ) 79,922 Amortization of deferred policy 10,136 10,795 — — — — 20,931 Other policy acquisition expenses 579 519 546 — — ( 436 ) 1,208 Stock-based compensation expense 369 701 — — 512 — 1,582 Interest expense — 1,500 812 223 2,926 ( 2,312 ) 3,149 Depreciation and amortization 138 1,088 — 380 160 ( 276 ) 1,490 Personnel and other operating expenses 11,748 9,970 54 1,434 3,733 ( 6,037 ) 20,902 Total expenses 61,984 65,126 2,680 2,037 7,331 ( 9,974 ) 129,184 Income (loss) before income taxes $ 62,342 $ 16,502 $ ( 1,217 ) $ 1,410 $ ( 1,607 ) $ — $ 77,430 Total revenue from non-affiliates (d) $ 114,956 $ 88,083 $ 1,916 $ 2,606 $ 4,085 Gross premiums written $ 91,875 $ 143,624 $ 19,487 (a) Other revenue under real estate primarily consisted of rental income from investment properties. (b) Other revenue under corporate and other primarily consisted of revenue from marina business and management fees for attorney-in-fact services. (c) Gross premiums earned under HCPCI Insurance Operations consist of $ 149,271 from HCPCI and $ 6,111 from a reinsurance company. (d) Represents amounts before reclassification of certain revenue and expenses to conform with an insurance company’s presentation. HCPCI Insurance TypTap Real Corporate/ Reclassification/ For Three Months Ended March 31, 2023 Operations Group Estate (a) Other (b) Elimination Consolidated Revenue: Gross premiums earned (c) $ 96,991 $ 87,612 $ — $ — $ ( 4,535 ) $ 180,068 Premiums ceded ( 40,195 ) ( 34,823 ) — — 4,509 ( 70,509 ) Net premiums earned 56,796 52,789 — — ( 26 ) 109,559 Net income from investment portfolio 2,954 3,379 — 1,900 8,862 17,095 Gain from sales of real estate investments — — 8,936 — ( 8,936 ) — Policy fee income 563 527 — — — 1,090 Other 4,653 1,643 2,923 595 ( 8,529 ) 1,285 Total revenue 64,966 58,338 11,859 2,495 ( 8,629 ) 129,029 Expenses: Losses and loss adjustment expenses 28,782 33,056 — — ( 1,273 ) 60,565 Amortization of deferred policy acquisition 9,621 11,863 — — — 21,484 Other policy acquisition expenses 655 611 — — ( 30 ) 1,236 Stock-based compensation expense 496 829 — 781 — 2,106 Interest expense — 431 203 2,598 ( 431 ) 2,801 Depreciation and amortization 139 956 627 202 ( 537 ) 1,387 Loss on extinguishment of debt — — 177 — ( 177 ) — Personnel and other operating expenses 9,919 9,433 1,554 1,589 ( 6,181 ) 16,314 Total expenses 49,612 57,179 2,561 5,170 ( 8,629 ) 105,893 Income (loss) before income taxes $ 15,354 $ 1,159 $ 9,298 $ ( 2,675 ) $ — $ 23,136 Total revenue from non-affiliates (d) $ 56,929 $ 61,286 $ 11,051 $ 1,926 Gross premiums written $ 85,153 $ 114,701 (a) Other revenue under real estate primarily consisted of rental income from investment properties. (b) Other revenue under corporate and other primarily consisted of revenue from marina business. (c) Gross premiums earned under HCPCI Insurance Operations consist of $ 92,456 from HCPCI and $ 4,535 from a reinsurance company. (d) Represents amounts before reclassification of certain revenue and expenses to conform with an insurance company’s presentation.
Summary of Segment Assets Reconciled to Consolidated Balance Sheets	The following table presents segment assets reconciled to the Company’s total assets on the consolidated balance sheets: March 31, December 31, 2024 2023 Segments: HCPCI Insurance Operations $ 921,327 $ 933,116 TypTap Group 669,986 623,366 Reciprocal Exchange Operations 47,776 25,000 Real Estate Operations 131,893 132,257 Corporate and Other 334,304 233,952 Consolidation and Elimination ( 263,652 ) ( 136,375 ) Total assets $ 1,841,634 $ 1,811,316

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2024
Disclosure Of Leases [Abstract]
Disclosure of right-of-use assets and liabilities for operating and finance leases	The table below summarizes the Company’s right-of-use (“ROU”) assets and corresponding liabilities for operating and finance leases: March 31, December 31, 2024 2023 Operating leases: ROU assets $ 1,352 $ 1,407 Liabilities $ 1,357 $ 1,408 Finance leases: ROU assets $ 1 $ 1 Liabilities $ 1 $ 2
Disclosure of operating and finance leases of lessee	The following table summarizes the Company’s operating and finance leases in which the Company is a lessee: Renewal Other Terms and Class of Assets Initial Term Option Conditions Operating lease: Office equipment 36 to 63 months Yes (a) Office space 5 to 9 years Yes (a), (b) Finance lease: Office equipment 3.25 years Not applicable (c) (a) There are no variable lease payments. (b) Rent escalation provisions exist. (c) There is a bargain purchase option.
Disclosure of lease liabilities maturities	As of March 31, 2024, maturities of lease liabilities were as follows: Leases Operating Finance Due in 12 months following March 31, 2024 $ 287 $ 1 2025 296 — 2026 306 — 2027 316 — 2028 160 — Thereafter 219 — Total lease payments 1,584 1 Less: interest 227 — Total lease obligations $ 1,357 $ 1
Disclosure of quantitative information of operating and finance leases	The following table provides quantitative information with regards to the Company’s operating and finance leases: Three Months Ended March 31, 2024 2023 Lease costs: Finance lease costs: Amortization – ROU assets* $ — $ 4 Operating lease costs* 68 52 Short-term lease costs* 92 93 Total lease costs $ 160 $ 149 Cash paid for amounts included in the Operating cash flows – operating leases $ 70 $ 44 Financing cash flows – finance leases $ 1 $ 4 March 31, 2024 Weighted-average remaining lease term: Finance leases (in years) 0.5 Operating leases (in years) 5.4 Weighted-average discount rate: Finance leases (%) 2.4 % Operating leases (%) 6.0 % * Included in other operating expenses on the consolidated statements of income.
Disclosure of operating leases of lessor entity	The following table summarizes the Company’s operating leases in which the Company is a lessor: Renewal Other Terms and Class of Assets Initial Term Option Conditions Operating lease: Office space 1 to 3 years Yes (d) Retail space 3 to 20 years Yes (d) Boat docks/wet slips 1 to 12 months Yes (d) (d) There are no purchase options.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Summary of Numerator and Denominator of Basic and Diluted Earnings Per Common Share	A summary of the numerator and denominator of the basic and diluted earnings per common share is presented below: Three Months Ended Three Months Ended March 31, 2024 March 31, 2023 Income Shares (a) Per Share Income Shares (a) Per Share (Numerator) (Denominator) Amount (Numerator) (Denominator) Amount Net income $ 56,956 $ 17,793 Less: Net income attributable to ( 10,149 ) ( 2,324 ) Less: Net loss (income) 804 ( 131 ) Net income attributable to HCI 47,611 15,338 Less: Income attributable to ( 1,218 ) ( 564 ) Basic Earnings Per Share: Income allocated to common 46,393 9,751 $ 4.76 14,774 8,278 $ 1.78 Effect of Dilutive Securities: * Stock options — 280 — 45 Convertible senior notes 1,640 2,282 1,921 2,537 Warrants — 305 — — Diluted Earnings Per Share: Income available to common $ 48,033 12,618 $ 3.81 $ 16,695 10,860 $ 1.54 (a) Shares in thousands. * For the three months ended March 31, 2023 , warrants were excluded due to anti-dilutive effect.

Redeemable Noncontrolling Int_2

Redeemable Noncontrolling Interest (Tables)	3 Months Ended
	Mar. 31, 2024
Noncontrolling Interest [Abstract]
Summary of Activity of Redeemable Noncontrolling Interest	The following table summarizes the activity of redeemable noncontrolling interest during the three months ended March 31, 2024 and 2023: 2024 2023 Balance at January 1 $ 96,160 $ 93,553 Increase (decrease): Accrued cash dividends 424 1,637 Accretion - increasing dividend rates 111 687 Adjustment to maximum redemption value 6,228 — Dividends paid ( 2,923 ) ( 3,012 ) Redemption ( 100,000 ) — Balance at March 31 $ — $ 92,865

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Summary of Company's Stock Option Plan Activity	A summary of the stock option activity for the three months ended March 31, 2024 and 2023 is as follows (option amounts not in thousands): Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Options Price Term Value Outstanding at January 1, 2024 590,000 $ 51.54 5.9 years $ 21,156 Outstanding at March 31, 2024 590,000 $ 51.54 5.6 years $ 38,077 Exercisable at March 31, 2024 590,000 $ 51.54 5.6 years $ 38,077 Outstanding at January 1, 2023 440,000 $ 45.25 5.6 years $ — Outstanding at March 31, 2023 440,000 $ 45.25 5.3 years $ 3,146 Exercisable at March 31, 2023 412,500 $ 45.07 5.2 years $ 3,031
Information with Respect to Unvested Restricted Stock Awards and Incentive Plan	Information with respect to the activity of unvested restricted stock awards during the three months ended March 31, 2024 and 2023 is as follows: Number of Weighted Restricted Average Stock Grant Date Awards Fair Value Nonvested at January 1, 2024 271,417 $ 37.12 Vested ( 29,690 ) $ 56.05 Forfeited ( 200 ) $ 51.87 Nonvested at March 31, 2024 241,527 $ 34.78 Nonvested at January 1, 2023 342,459 $ 39.86 Granted 6,000 $ 51.76 Vested ( 40,352 ) $ 54.83 Forfeited ( 2,125 ) $ 40.33 Nonvested at March 31, 2023 305,982 $ 38.11
Information about Deferred Tax Benefits Recognized Related to Restricted Stock Awards, Paid Dividends and the Fair Value of Vested Restricted Stock	The following table summarizes information about deferred tax benefits recognized and tax benefits realized related to restricted stock awards and paid dividends, and the fair value of vested restricted stock for the three months ended March 31, 2024 and 2023. Three Months Ended March 31, 2024 2023 Deferred tax benefits recognized $ 99 $ 263 Tax benefits realized for restricted stock and paid dividends $ 511 $ 299 Fair value of vested restricted stock $ 1,664 $ 2,213

Nature of Operations - Addition

Nature of Operations - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) InsurancePolicy
Nature Of Operations [Line Items]
Annualized Premiums Written | $	$ 87,800
Citizens [Member] | Minimum [Member]
Nature Of Operations [Line Items]
Assumed Policies | InsurancePolicy	9,800

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Summary Of Significant Accounting Policies [Line Items]
Other	$ 355	$ 1,285
Claims processing services
Summary Of Significant Accounting Policies [Line Items]
Other	$ 0	$ 527
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of voting rights and economic interests in subsidiary	100%

Cash, Cash Equivalents, and R_3

Cash, Cash Equivalents, and Restricted Cash - Summary of Cash, Cash Equivalents, and Restricted Cash (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents (a)	$ 655,384	$ 536,478
Restricted cash (a)	3,303	3,287
Total	$ 658,687	$ 539,765

Cash, Cash Equivalents, and R_4

Cash, Cash Equivalents, and Restricted Cash (Additional Information) (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Restricted cash (a)	$ 3,303	$ 3,287
Pineda Landings Melbourne [Member]
Restricted cash (a)	$ 87

Investments - Summary of Amorti

Investments - Summary of Amortized Cost, Allowance for Credit Loss, Gross Unrealized Gains and Losses, and Estimated Fair Value of Available-for-Sale Securities (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Schedule of Available-for-sale Securities [Line Items]
Fixed-maturity securities, Cost or Amortized Cost	$ 475,170	$ 387,687
Allowance for Credit Loss	0	0
Fixed-maturity securities, Gross Unrealized Gain	88	340
Fixed-maturity securities, Gross Unrealized Loss	(4,453)	(4,789)
Fixed-maturity securities, Estimated Fair Value	470,805	383,238
Fixed-Maturity Securities [Member] | U.S. Treasury and U.S. Government Agencies [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed-maturity securities, Cost or Amortized Cost	444,189	359,630
Fixed-maturity securities, Gross Unrealized Gain	23	224
Fixed-maturity securities, Gross Unrealized Loss	(3,498)	(3,800)
Fixed-maturity securities, Estimated Fair Value	440,714	356,054
Fixed-Maturity Securities [Member] | Corporate Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed-maturity securities, Cost or Amortized Cost	30,487	27,563
Fixed-maturity securities, Gross Unrealized Gain	65	116
Fixed-maturity securities, Gross Unrealized Loss	(943)	(975)
Fixed-maturity securities, Estimated Fair Value	29,609	26,704
Fixed-Maturity Securities [Member] | Exchange-Traded Debt [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed-maturity securities, Cost or Amortized Cost	494	494
Fixed-maturity securities, Gross Unrealized Gain	0	0
Fixed-maturity securities, Gross Unrealized Loss	(12)	(14)
Fixed-maturity securities, Estimated Fair Value	$ 482	$ 480

Investments - Scheduled Contrac

Investments - Scheduled Contractual Maturities of Fixed-Maturity Securities (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Due in one year or less, Cost or Amortized Cost	$ 281,977	$ 234,992
Due after one year through five years, Cost or Amortized Cost	189,861	148,935
Due after five years through ten years, Cost or Amortized Cost	2,838	3,266
Due after ten years, Cost or Amortized Cost	494	494
Fixed-maturity securities, Cost or Amortized Cost	475,170	387,687
Due in one year or less, Estimated Fair Value	280,304	234,025
Due after one year through five years, Estimated Fair Value	187,529	145,758
Due after five years through ten years, Estimated Fair Value	2,490	2,974
Due after ten years, Estimated Fair Value	482	481
Estimated Fair Value Total	$ 470,805	$ 383,238

Investments - Summary of Sales

Investments - Summary of Sales of Available-for-sale Fixed-Maturity Securities (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Available-for-sale Securities [Line Items]
Proceeds	$ 6,030	$ 11,060
Fixed-Maturity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Proceeds	6,030	11,060
Gross Realized Gains	12	0
Gross Realized Losses	$ (44)	$ (738)

Investments - Summary of Securi

Investments - Summary of Securities with Gross Unrealized Loss Positions Aggregated by Investment Category (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Loss, Less than Twelve Months	$ (263)	$ (44)
Estimated Fair Value, Less than Twelve Months	309,813	5,886
Gross Unrealized Loss, Twelve Months or Longer	(4,190)	(4,745)
Estimated Fair Value, Twelve Months or Longer	150,034	200,881
Gross Unrealized Loss, Total	(4,453)	(4,789)
Estimated Fair Value, Total	459,847	206,767
U.S. Treasury and U.S. Government Agencies [Member] | Fixed-Maturity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Loss, Less than Twelve Months	(209)	(22)
Estimated Fair Value, Less than Twelve Months	304,595	3,464
Gross Unrealized Loss, Twelve Months or Longer	(3,289)	(3,778)
Estimated Fair Value, Twelve Months or Longer	131,299	181,463
Gross Unrealized Loss, Total	(3,498)	(3,800)
Estimated Fair Value, Total	435,894	184,927
Corporate Bonds [Member] | Fixed-Maturity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Loss, Less than Twelve Months	(42)	(8)
Estimated Fair Value, Less than Twelve Months	4,736	1,941
Gross Unrealized Loss, Twelve Months or Longer	(901)	(967)
Estimated Fair Value, Twelve Months or Longer	18,735	19,418
Gross Unrealized Loss, Total	(943)	(975)
Estimated Fair Value, Total	23,471	21,359
Exchange-Traded Debt [Member] | Fixed-Maturity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Loss, Less than Twelve Months	(12)	(14)
Estimated Fair Value, Less than Twelve Months	482	481
Gross Unrealized Loss, Twelve Months or Longer	0	0
Estimated Fair Value, Twelve Months or Longer	0	0
Gross Unrealized Loss, Total	(12)	(14)
Estimated Fair Value, Total	$ 482	$ 481

Investments (Securities with Gr

Investments (Securities with Gross Unrealized Loss Positions) - Additional Information (Detail) $ in Thousands	Mar. 31, 2024 USD ($) Security	Dec. 31, 2023 USD ($) Security
Investments, Debt and Equity Securities [Abstract]
Number of securities in an unrealized loss position | Security	83	65
Fair value of assets held by insurance regulators | $	$ 1,668	$ 1,660

Investments (Allowance for Cred

Investments (Allowance for Credit Losses of Available-for-Sale Fixed-Maturity Securities) - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Allowance for credit losses of available-for-sale debt securities	$ 0	$ 0

Investments - Summary of Cost,

Investments - Summary of Cost, Gross Unrealized Gains and Losses, and Estimated Fair Value of Equity Securities (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Cost	$ 47,852	$ 44,011
Gross Unrealized Gain	6,123	3,945
Gross Unrealized Loss	(1,962)	(2,419)
Equity securities, at fair value	$ 52,013	$ 45,537

Investments - Summary of Unreal

Investments - Summary of Unrealized Gains and Losses in Consolidated Statements of Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Gain (Loss) on Securities [Line Items]
Net unrealized gains recognized	$ 2,635	$ 529
Equity Securities [Member]
Gain (Loss) on Securities [Line Items]
Net gains recognized	2,667	114
Exclude: Net realized gains (losses) recognized for securities sold	$ 32	$ (415)

Investments - Summary of Procee

Investments - Summary of Proceeds Received and The Gross Realized Gains and Losses From Sales of Equity Securities (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Debt and Equity Securities, FV-NI [Line Items]
Proceeds	$ 3,516	$ 3,754
Equity Securities [Member]
Debt and Equity Securities, FV-NI [Line Items]
Proceeds	3,516	3,754
Gross Realized Gains	173	17
Gross Realized Losses	$ (141)	$ (432)

Investments - Schedule of Compa

Investments - Schedule of Company's Investments in Limited Partnerships (Detail) - USD ($) $ in Thousands		3 Months Ended	12 Months Ended
		Mar. 31, 2024	Dec. 31, 2023
Investment Securities [Line Items]
Carrying Value		$ 24,015	$ 23,583
Unfunded balance		3,806	4,205
Private US Lower Middle Market Companies [Member]
Investment Securities [Line Items]
Carrying Value	[1],[2],[3]	3,415	3,295
Unfunded balance	[1],[2],[3]	$ 0	$ 0
Percentage investment held by the entity	[1],[2],[3],[4]	15.37%	15.37%
Bank Loans Public and Private Corporate Bonds Asset Backed Securities Equity and Debt Restructuring [Member]
Investment Securities [Line Items]
Carrying Value	[1],[2],[5]	$ 2,176	$ 2,271
Unfunded balance	[1],[2],[5]	$ 0	$ 0
Percentage investment held by the entity	[1],[2],[4],[5]	1.24%	1.25%
Power Utility and Energy Industries and Infrastructure [Member]
Investment Securities [Line Items]
Carrying Value	[2],[6],[7]	$ 3,128	$ 3,400
Unfunded balance	[2],[6],[7]	$ 0	$ 0
Percentage investment held by the entity	[2],[4],[6],[7]	0.18%	0.18%
Senior and Junior Debts of Private Equity-Backed Companies [Member]
Investment Securities [Line Items]
Carrying Value	[2],[8],[9]	$ 3,368	$ 3,306
Unfunded balance	[2],[8],[9]	$ 0	$ 0
Percentage investment held by the entity	[2],[4],[8],[9]	0.55%	0.55%
Mature Real Estate Private Equity Funds And Portfolios Globally [Member]
Investment Securities [Line Items]
Carrying Value	[2],[10]	$ 7,690	$ 7,590
Unfunded balance	[2],[10]	$ 2,543	$ 2,543
Percentage investment held by the entity	[2],[4],[10]	1.32%	1.32%
Credit and Equity Investments, Primarily in Private Equity-Owned Companies [Member]
Investment Securities [Line Items]
Carrying Value	[2],[11]	$ 4,238	$ 3,721
Unfunded balance	[2],[11]	$ 1,263	$ 1,662
Percentage investment held by the entity	[2],[4],[11]	0.55%	0.55%
[1] At the fund manager’s discretion, the term of the fund may be extended for up to two additional one-year periods. Except under certain circumstances, withdrawals from the funds or any assignments are not permitted. Distributions, except income from late admission of a new limited partner, will be received when underlying investments of the funds are liquidated. The term is expected to be two years following the maturity of the fund’s outstanding leverage. Although the capital commitment period has expired, follow-on investments and pending commitments may require additional fundings. Represents the Company’s percentage investment in the fund at each balance sheet date. Effective July 1, 2023, this investment is in the process of winding down. Although the capital commitment period has ended, the general partner could still request an additional funding under certain circumstances. Expected to have a ten-year term. The capital commitment period has expired but the general partner may request additional funding for follow-on investment. With the consent of a supermajority of partners, the term of the fund may be extended for up to three additional one-year periods. Expected to have an eight-year term from the commencement date, which can be extended for up to two additional one-year periods with the consent of either the advisory committee or a majority of limited partners. The capital commitment period has ended but an additional funding may be requested. The term is expected to end November 27, 2027 . The term may be extended for up to four additional one-year periods at the general partner’s discretion, and up to two additional one-year periods with the consent of the advisory committee. Expected to have an eight-year term after the final admission date. The term may be extended for an additional one-year period at the general partner’s discretion, and up to two additional one-year periods with the consent of either the advisory committee or a majority of limited partners.

Investments - Schedule of Com_2

Investments - Schedule of Company's Investments in Limited Partnerships (Parenthetical) (Detail)	3 Months Ended
	Mar. 31, 2024
Private US Lower Middle Market Companies [Member]
Schedule Of Investments [Line Items]
Investment additional maturity term	2 years
Investment extension period	1 year
Bank Loans Public and Private Corporate Bonds Asset Backed Securities Equity and Debt Restructuring [Member]
Schedule Of Investments [Line Items]
Investment additional maturity term	2 years
Investment extension period	1 year
Power Utility and Energy Industries and Infrastructure [Member]
Schedule Of Investments [Line Items]
Investment additional maturity term	3 years
Investment extension period	1 year
Expected term	10 years
Senior and Junior Debts of Private Equity-Backed Companies [Member]
Schedule Of Investments [Line Items]
Investment additional maturity term	2 years
Investment extension period	1 year
Expected term	8 years
Mature Real Estate Private Equity Funds And Portfolios Globally [Member]
Schedule Of Investments [Line Items]
Investment additional maturity term	4 years
Investment extension period	1 year
Maturity date	Nov. 27, 2027
Investment additional maturity term with consent of advisory committee	2 years
Credit and Equity Investments, Primarily in Private Equity-Owned Companies [Member]
Schedule Of Investments [Line Items]
Investment extension period	1 year
Expected term	8 years
Investment additional maturity term with consent of dvisory committee or majority	2 years

Investments - Summary of Unaudi

Investments - Summary of Unaudited Financial Information and Unaudited Financial Position of Limited Partnerships (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Schedule Of Equity Method Investments [Line Items]
Total income		$ 206,614	$ 129,029
Net (loss) income		56,956	17,793
Balance sheet:
Total assets		1,841,634		$ 1,811,316
Total liabilities		1,443,764		1,387,991
Limited Partnership [Member]
Schedule Of Equity Method Investments [Line Items]
Total income	[1]	3,066	182,360
Total expenses		(25,601)	(2,257)
Net (loss) income		(22,535)	$ 180,103
Balance sheet:
Total assets		4,155,784		4,072,501
Total liabilities		$ 209,841		$ 220,525
[1] Includes net change in unrealized gains or losses on investments.

Investments (Limited Partnershi

Investments (Limited Partnership Investments) - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Schedule Of Investments [Line Items]
Recognized investment income (loss)	$ 195	$ 553
Distributions received from limited partnership interests	0	303
Limited Partnership [Member]
Schedule Of Investments [Line Items]
Recognized investment income (loss)		553
Estimated favorable change in net asset value	100
Cash distributions	162	1,905
Distributions received from limited partnership interests	0	$ 303
Company's net cumulative contributed capital to the partnership	23,583		$ 23,346
Maximum exposure loss relating to VIE	$ 24,015		$ 23,583

Investments - Summary of Real E

Investments - Summary of Real Estate Investments (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Real Estate [Abstract]
Land	$ 42,272	$ 42,272
Land improvements	4,843	4,387
Buildings and building improvements	18,593	18,594
Tenant and leasehold improvements	1,978	1,869
Other	8,076	7,168
Total, at cost	75,762	74,290
Less: accumulated depreciation and amortization	(6,666)	(6,397)
Real estate investments	$ 69,096	$ 67,893

Investments (Real Estate Invest

Investments (Real Estate Investments) - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule Of Investments [Line Items]
Depreciation and amortization expenses under real estate investments	$ 269
Real Estate Investments [Member]
Schedule Of Investments [Line Items]
Depreciation and amortization expenses under real estate investments		$ 453
Real Estate Investments [Member] | Pineda Landings Melbourne [Member]
Schedule Of Investments [Line Items]
Real estate investments sale price		18,500
Real Estate Investments [Member] | Sorrento Hills Village Sorrento [Member]
Schedule Of Investments [Line Items]
Real estate investments sale price		$ 13,418

Investments - Investment Income

Investments - Investment Income (Loss) Summarized (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule Of Investments [Line Items]
Recognized investment income	$ 195	$ 553
Real estate investments	1,493	9,293
Net Investment Income	14,067	17,715
Available-for-Sale-Fixed-Maturity Securities [Member]
Schedule Of Investments [Line Items]
Investment income	4,827	4,035
Equity Securities [Member]
Schedule Of Investments [Line Items]
Investment income	442	296
Investment Expense [Member]
Schedule Of Investments [Line Items]
Investment expense	(79)	(129)
Limited Partnership Investment [Member]
Schedule Of Investments [Line Items]
Recognized investment income	195	553
Cash and Cash Equivalents [Member]
Schedule Of Investments [Line Items]
Investment income	$ 7,189	$ 3,667

Investments (Investment Income

Investments (Investment Income (Loss) Summarized) - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net Investment Income [Line Items]
Gains (Losses) on Sales of Investment Real Estate	$ 0	$ 8,936
Real Estate Investments [Member] | Pineda Landings Melbourne [Member]
Net Investment Income [Line Items]
Gains (Losses) on Sales of Investment Real Estate		6,476
Real Estate Investments Sale Price		18,500
Real Estate Investments [Member] | Sorrento Hills Village Sorrento [Member]
Net Investment Income [Line Items]
Gains (Losses) on Sales of Investment Real Estate		2,460
Real Estate Investments Sale Price		$ 13,418

Investments (Other Investments)

Investments (Other Investments) - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Other Investments [Member]
Schedule Of Investments [Line Items]
Net realized gains	$ 0	$ 4

Comprehensive Income (Loss) - S

Comprehensive Income (Loss) - Schedule of Components of Other Comprehensive Income or Loss and Related Tax Effects Allocated to Each Component (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Before Tax
Net unrealized gains	$ 52	$ 2,415
Reclassification adjustment for net realized losses	32	738
Total other comprehensive income	84	3,153
Income Tax Effect
Net unrealized gains	13	(1,997)
Reclassification adjustment for net realized losses	8	187
Total other comprehensive income	21	(1,810)
Net of Tax
Net unrealized gains	39	4,412
Reclassification adjustment for net realized gains	24	551
Total other comprehensive income	$ 63	$ 4,963

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Money Market Funds and Certificate Of Deposit Maturity Period	90 days

Fair Value Measurements - Compo

Fair Value Measurements - Components of Long-Term Debt and Methods Used in Estimating Fair Values (Detail)	3 Months Ended
	Mar. 31, 2024
4.75% Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	2042
Valuation Methodology	Quoted price
4.25% Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	2037
Valuation Methodology	Quoted price
4.55% Promissory Note [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	2036
Valuation Methodology	Discounted cash flow method/Level 3 inputs
5.50% Promissory Note [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	2033
Valuation Methodology	Discounted cash flow method/Level 3 inputs

Fair Value Measurements - Com_2

Fair Value Measurements - Components of Long-Term Debt and Methods Used in Estimating Fair Values (Parenthetical) (Detail)	Mar. 31, 2024
Debt Instrument [Line Items]
Debt instrument stated interest rate	4.25%
4.75% Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	4.75%
4.25% Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	4.25%
4.55% Promissory Note [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	4.55%
5.50% Promissory Note [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	5.50%

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets Measured at Fair Value (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Financial Assets:
Restricted cash (a)	$ 3,303	$ 3,287
Debt Securities, Available-for-Sale	470,805	383,238
Equity securities, at fair value	52,013	45,537
Fair Value, Measurements, Recurring [Member]
Financial Assets:
Cash and cash equivalents	655,384	536,478
Restricted cash (a)	3,303	3,287
Debt Securities, Available-for-Sale	470,805	383,238
Equity securities, at fair value	52,013	45,537
Fair Value, Measurements, Recurring [Member] | (Level 1) [Member]
Financial Assets:
Cash and cash equivalents	655,384	536,478
Restricted cash (a)	3,303	3,287
Debt Securities, Available-for-Sale	456,451	368,892
Equity securities, at fair value	52,013	45,537
Fair Value, Measurements, Recurring [Member] | (Level 2) [Member]
Financial Assets:
Debt Securities, Available-for-Sale	14,354	14,346
U.S. Treasury and U.S. Government Agencies [Member] | Fair Value, Measurements, Recurring [Member]
Financial Assets:
Debt Securities, Available-for-Sale	440,714	356,054
U.S. Treasury and U.S. Government Agencies [Member] | Fair Value, Measurements, Recurring [Member] | (Level 1) [Member]
Financial Assets:
Debt Securities, Available-for-Sale	432,781	348,145
U.S. Treasury and U.S. Government Agencies [Member] | Fair Value, Measurements, Recurring [Member] | (Level 2) [Member]
Financial Assets:
Debt Securities, Available-for-Sale	7,933	7,909
Corporate Bonds [Member] | Fair Value, Measurements, Recurring [Member]
Financial Assets:
Debt Securities, Available-for-Sale	29,609	26,704
Corporate Bonds [Member] | Fair Value, Measurements, Recurring [Member] | (Level 1) [Member]
Financial Assets:
Debt Securities, Available-for-Sale	23,188	20,267
Corporate Bonds [Member] | Fair Value, Measurements, Recurring [Member] | (Level 2) [Member]
Financial Assets:
Debt Securities, Available-for-Sale	6,421	6,437
Exchange-Traded Debt [Member] | Fair Value, Measurements, Recurring [Member]
Financial Assets:
Debt Securities, Available-for-Sale	482	480
Exchange-Traded Debt [Member] | Fair Value, Measurements, Recurring [Member] | (Level 1) [Member]
Financial Assets:
Debt Securities, Available-for-Sale	$ 482	$ 480

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value Information for Financial Liabilities Carried on Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Financial Liabilities:
Revolving credit facility	$ 50,000	$ 0
Total long-term debt	184,744	208,495
Carrying Value [Member]
Financial Liabilities:
Revolving credit facility	50,000
Total long-term debt	184,743	208,493
Carrying Value [Member] | 4.75% Convertible Senior Notes [Member]
Financial Liabilities:
Total long-term debt	168,516	168,230
Carrying Value [Member] | 4.25% Convertible Senior Notes [Member]
Financial Liabilities:
Total long-term debt		23,916
Carrying Value [Member] | 5.50% Promissory Note [Member]
Financial Liabilities:
Total long-term debt	11,654	11,707
Carrying Value [Member] | 4.55% Promissory Note [Member]
Financial Liabilities:
Total long-term debt	4,573	4,640
Estimate of Fair Value Measurement [Member]
Financial Liabilities:
Revolving credit facility	50,000
Total long-term debt	284,293	265,520
Estimate of Fair Value Measurement [Member] | (Level 2) [Member]
Financial Liabilities:
Revolving credit facility	50,000
Total long-term debt	268,717	249,659
Estimate of Fair Value Measurement [Member] | (Level 3) [Member]
Financial Liabilities:
Total long-term debt	15,576	15,861
Estimate of Fair Value Measurement [Member] | 4.75% Convertible Senior Notes [Member]
Financial Liabilities:
Total long-term debt	268,717	215,114
Estimate of Fair Value Measurement [Member] | 4.75% Convertible Senior Notes [Member] | (Level 2) [Member]
Financial Liabilities:
Total long-term debt	268,717	215,114
Estimate of Fair Value Measurement [Member] | 4.25% Convertible Senior Notes [Member]
Financial Liabilities:
Total long-term debt		34,545
Estimate of Fair Value Measurement [Member] | 4.25% Convertible Senior Notes [Member] | (Level 2) [Member]
Financial Liabilities:
Total long-term debt		34,545
Estimate of Fair Value Measurement [Member] | 5.50% Promissory Note [Member]
Financial Liabilities:
Total long-term debt	11,327	11,512
Estimate of Fair Value Measurement [Member] | 5.50% Promissory Note [Member] | (Level 3) [Member]
Financial Liabilities:
Total long-term debt	11,327	11,512
Estimate of Fair Value Measurement [Member] | 4.55% Promissory Note [Member]
Financial Liabilities:
Total long-term debt	4,249	4,349
Estimate of Fair Value Measurement [Member] | 4.55% Promissory Note [Member] | (Level 3) [Member]
Financial Liabilities:
Total long-term debt	$ 4,249	$ 4,349

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Fair Value Information for Financial Liabilities Carried on Consolidated Balance Sheets (Parenthetical) (Detail)	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	4.25%
4.75% Convertible Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	4.75%
4.25% Convertible Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	4.25%
5.50% Promissory Note [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	5.50%
4.55% Promissory Note [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	4.55%
Carrying Value [Member] | 4.75% Convertible Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	4.75%	4.75%
Carrying Value [Member] | 4.25% Convertible Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate		4.25%
Carrying Value [Member] | 5.50% Promissory Note [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	5.50%	5.50%
Carrying Value [Member] | 4.55% Promissory Note [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	4.55%	4.55%

Intangible Assets, Net - Detail

Intangible Assets, Net - Details of Intangible Assets, Net (Detail) - USD ($) $ in Thousands		Mar. 31, 2024	Dec. 31, 2023
Finite Lived Intangible Assets [Line Items]
Total, at cost		$ 12,635	$ 12,635
Less: accumulated amortization		(5,589)	(4,976)
Intangible assets, net		7,046	7,659
Leases, Acquired-in-Place [Member]
Finite Lived Intangible Assets [Line Items]
Total, at cost	[1]	2,221	2,221
Policy Renewal Rights [Member] | United [Member]
Finite Lived Intangible Assets [Line Items]
Total, at cost		10,100	10,100
Noncompete Agreements [Member] | United [Member]
Finite Lived Intangible Assets [Line Items]
Total, at cost	[2]	$ 314	$ 314
[1] Amortization related to the Haines City property is expected to start in June 2024. Fully amortized

Intangible Assets, Net - Schedu

Intangible Assets, Net - Schedule of Remaining Weighted-Average Amortization Period for Intangible Assets (Detail)	Mar. 31, 2024
Leases, Acquired-in-Place [Member]
Finite Lived Intangible Assets [Line Items]
Remaining weighted-average amortization period	18 years 4 months 24 days
Policy Renewal Rights [Member]
Finite Lived Intangible Assets [Line Items]
Remaining weighted-average amortization period	2 years 1 month 6 days

Intangible Assets, Net - Additi

Intangible Assets, Net - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Finite Lived Intangible Assets [Line Items]
Intangible assets	$ 12,635	$ 12,635
Other Liabilities [Member]
Finite Lived Intangible Assets [Line Items]
Asset Acquisition, Contingent Consideration, Liability	$ 371	$ 371

Other Assets - Summary of Other

Other Assets - Summary of Other Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Benefits receivable related to retrospective reinsurance contract	$ 51,282	$ 44,289
Reimbursement and fees receivable under TPA service	0	629
Prepaid expenses	2,551	2,882
Deposits	418	409
Lease acquisition costs, net	814	833
Other	2,119	1,323
Total other assets	$ 57,184	$ 50,365

Revolving Credit Facility - Add

Revolving Credit Facility - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Line of Credit Facility [Line Items]
Revolving credit facility	$ 50,000		$ 0
Interest Expense	3,149	$ 2,801
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Revolving credit facility	50,000
Interest Expense	738	25
Amortization of Debt Issuance Costs	15	$ 25
Credit facility, maximum borrowing capacity	$ 25,000

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-Term Debt (Detail) - USD ($) $ in Thousands		Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total principal amount		$ 188,980	$ 213,024
Finance Lease, Liability		1	2
Less: unamortized issuance costs		(4,236)	(4,529)
Total long-term debt		184,744	208,495
4.75% Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Total principal amount		172,500	172,500
4.25% Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Total principal amount	[1]	0	23,916
4.55% Promissory Note [Member]
Debt Instrument [Line Items]
Total principal amount		4,631	4,700
5.50% Promissory Note [Member]
Debt Instrument [Line Items]
Total principal amount		$ 11,848	$ 11,906
[1] Notes converted or redeemed during the first quarter of 2024

Long-Term Debt - Summary of L_2

Long-Term Debt - Summary of Long-Term Debt (Parenthetical) (Detail)	3 Months Ended
	Mar. 31, 2024
Debt Instrument [Line Items]
Debt instrument stated interest rate	4.25%
4.75% Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	4.75%
Debt instrument, maturity date	Jun. 01, 2042
4.25% Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	4.25%
Debt instrument, maturity date	Mar. 01, 2037
4.55% Promissory Note [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	4.55%
Debt instrument, maturity date	Aug. 01, 2036
5.50% Promissory Note [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	5.50%
Debt instrument, maturity date	Jul. 01, 2033
Finance Lease Liabilities [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Oct. 15, 2024

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail) $ / shares in Units, $ in Thousands		3 Months Ended
	Mar. 15, 2024 USD ($)	Mar. 31, 2024 USD ($) $ / shares shares	Mar. 31, 2023 USD ($) $ / shares	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Debt instrument stated interest rate		4.25%
Loss on extinguishment of debt		$ 0	$ 177
Redemption of long term debt		$ 466	$ 6,895
Cash dividends on common stock | $ / shares		$ 0.4	$ 0.4
Less: unamortized issuance costs		$ 4,236		$ 4,529
4.25% Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate		4.25%
Debt Instrument, Maturity Date		Mar. 01, 2037
Debt Instrument Maturity Year		2037
Debt Instrument, Convertible Senior Notes, Per Share in Principal Amount | $ / shares		$ 1
Redemption of long term debt	$ 466
Convertible debt, conversion ratio		16.5892
Convertible debt, conversion price | $ / shares		$ 60.25
Debt instrument, principal amount		$ 23,916
Convertible note conversion amount		$ 23,450
Number of stock issued upon conversion of convertible note | shares		389,087
Cash consideration in lieu of fractional shares		$ 1
4.75% Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate		4.75%
Debt Instrument, Maturity Date		Jun. 01, 2042
Debt Instrument Maturity Year		2042
Convertible debt, conversion ratio		12.4166
Convertible debt, conversion price | $ / shares		$ 80.54
Debt issuance costs, remaining amortization period		3 years 2 months 1 day
Debt instrument interest rate effective percentage till final maturity		5%
Debt instrument interest rate effective percentage		5.60%

Long-Term Debt - Summary of Fut

Long-Term Debt - Summary of Future Maturities of Long-Term Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Long-Term Debt, Rolling Maturity [Abstract]
2024	$ 524
2025	549
2026	577
2027	173,107
2028	638
Thereafter	13,585
Total	$ 188,980	$ 213,024

Long-Term Debt - Schedule of In

Long-Term Debt - Schedule of Interest Expense Related to Long-Term Debt (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Interest Expense, Debt [Abstract]
Contractual interest		$ 2,118	$ 2,497
Non-cash expense (b)	[1]	293	279
Total		$ 2,411	$ 2,776
[1] Represents amortization of debt issuance costs.

Reinsurance - Additional Inform

Reinsurance - Additional Information (Detail) $ in Thousands		1 Months Ended	3 Months Ended
	Feb. 14, 2024 USD ($)	Feb. 29, 2024 USD ($)	Mar. 31, 2024 USD ($) Reinsurance	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($) Reinsurance
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Percentage of ceding commission on ceded premiums written			30%
Profit commission on net profit			10%
Reinsurance recoverable			$ 330,670		$ 350,294
Ceded losses recognized as a reduction in losses and loss adjustment expenses			0	$ 2,751
Decrease in credit loss expense			49	1
Allowances for credit losses related to the reinsurance recoverable balance			69		118
Reduction in premiums ceded			6,993	6,993
Other Assets			57,184		50,365
Benefits receivable related to retrospective reinsurance contract			51,282		44,289
Funds withheld for assumed business			14,181		30,087
Assumed premiums written			43,091	(7,569)
Reimbursement and fees receivable under TPA service			0		629
Premiums receivable			43,291		38,037
Reinsurance payable on paid losses and loss adjustment expenses			0		3,145
Citizens [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Assumed premiums written			43,091	0
United [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Funds withheld for assumed business			14,181
Net amount due to entity			2,020
Northeast Region [Member] | United [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Net amount payable			582		582
Southeast Region [Member] | United [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Net amount payable			1,438		4,203
Assumed premiums written				$ 7,569
Assumed premiums written payable			1,712		1,712
Reinsurance payable on paid losses and loss adjustment expenses					2,765
Ceding commission receivable			274		274
CORE [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Other Assets			$ 270		$ 65
Typ Tap [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Net Withdrawal From Funds Held Under Reinsurance Agreement	$ 15,000	$ 4,462
Participating Reinsurers [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Number of reinsurers | Reinsurance			58		33
Reinsurance Recoverable for Paid and Unpaid Claims and Claims Adjustments [Member] | Reinsurer Concentration Risk [Member] | Reinsurance [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Percentage of reinsurance recoverable major reinsurers			64.70%

Reinsurance - Impact of the Rei

Reinsurance - Impact of the Reinsurance Contracts on Premiums Written and Earned (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024		Mar. 31, 2023
Premiums Written:
Direct	$ 211,895		$ 207,423
Assumed	43,091		(7,569)
Gross written	254,986		199,854
Ceded	(68,106)		(70,509)
Net premiums written	186,880		129,345
Premiums Earned:
Direct	189,675		172,905
Assumed	66,969		7,163
Gross earned	256,644	[1]	180,068	[2]
Ceded	(68,106)		(70,509)
Net premiums earned	$ 188,538		$ 109,559
[1] Gross premiums earned under HCPCI Insurance Operations consist of $ 149,271 from HCPCI and $ 6,111 from a reinsurance company. Gross premiums earned under HCPCI Insurance Operations consist of $ 92,456 from HCPCI and $ 4,535 from a reinsurance company.

Losses and Loss Adjustment Ex_3

Losses and Loss Adjustment Expenses - Losses and LAE (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Net balance, beginning of period*	[1]	$ 254,351	$ 246,546
Incurred, net of reinsurance, related to:
Current period		79,922	56,698
Prior periods		0	3,867
Total incurred, net of reinsurance		79,922	60,565
Paid, net of reinsurance, related to:
Current period		(17,789)	(11,110)
Prior periods		(43,059)	(49,950)
Total paid, net of reinsurance		(60,848)	(61,060)
Net balance, end of period		273,425	246,051
Add: reinsurance recoverable before allowance for credit losses		305,287	560,257
Gross balance, end of period		$ 578,712	$ 806,308	$ 585,073
[1] Net balance represents beginning-of-period liability for unpaid losses and LAE less beginning-of-period reinsurance recoverable for unpaid losses and LAE.

Losses and Loss Adjustment Ex_4

Losses and Loss Adjustment Expenses - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Reserves For Losses And Loss Adjustment Expenses [Line Items]
Claims and claim adjustment expenses prior period development	$ 0	$ 3,867
Total incurred, net of reinsurance	79,922	$ 60,565
Citizens [Member]
Reserves For Losses And Loss Adjustment Expenses [Line Items]
Total incurred, net of reinsurance	$ 21,678

Variable Interest Entity - Summ

Variable Interest Entity - Summary of Unaudited Financial Information and Unaudited Financial Position (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Assets [Abstract]
Cash and cash equivalents	$ 655,384	$ 536,478
Income taxes receivable	651	0
Other assets	57,184	50,365
Total assets	1,841,634	1,811,316
Liabilities [Abstract]
Losses and loss adjustment expenses (a)	578,712	585,073	$ 806,308
Unearned premiums	499,499	501,157
Ceded reinsurance premiums payable	10,693	8,921
Assumed premiums payable	2,681	850
Deferred income taxes, net	5,113	0
Other liabilities	36,564	35,623
Total liabilities	1,443,764	1,387,991
CORE [Member]
Assets [Abstract]
Cash and cash equivalents	44,411	24,635
Restricted cash	302	300
Income taxes receivable	651	0
Other assets	270	65
Total assets	45,634	25,000
Liabilities [Abstract]
Losses and loss adjustment expenses (a)	1,178	0
Unearned premiums	15,862	0
Ceded reinsurance premiums payable	1,986	0
Assumed premiums payable	236	0
Deferred income taxes, net	342	0
Other liabilities	183	0
Total liabilities	$ 19,787	$ 0

Segment Information - Additiona

Segment Information - Additional Information (Detail) - Segment	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Number of operating divisions	5
Sales Revenue, Net [Member] | Segment Concentration Risk [Member] | HCPCI Insurance Operations [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage	63.70%	61.20%
Sales Revenue, Net [Member] | Segment Concentration Risk [Member] | TypTap Group [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage	33.80%	36.50%
Assets [Member] | Segment Concentration Risk [Member] | HCPCI Insurance Operations [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage	53.10%		55.30%
Assets [Member] | Segment Concentration Risk [Member] | TypTap Group [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage	34.90%		33.60%

Segment Information - Summary o

Segment Information - Summary of Segment Information Reconciled to Consolidated Statements of Income (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2024		Mar. 31, 2023
Revenue:
Gross premiums earned		$ 256,644	[1]	$ 180,068	[2]
Premiums ceded		(68,106)		(70,509)
Net premiums earned		188,538		109,559
Net income from investment portfolio		16,702		17,095
Gain from sales of real estate investments				0
Policy fee income		1,019		1,090
Other		355		1,285
Total revenue		206,614		129,029
Expenses:
Losses and loss adjustment expenses		79,922		60,565
Amortization of deferred policy acquisition costs		20,931		21,484
Other policy acquisition expenses		1,208		1,236
Stock-based compensation expense		1,582		2,106
Interest expense		3,149		2,801
Depreciation and amortization		1,490		1,387
Loss on extinguishment of debt		0		(177)
Personnel and other operating expenses		20,902		16,314
Total expenses		129,184		105,893
Income (loss) before income taxes		77,430		23,136
Gross premiums written		254,986		199,854
Operating Segments [Member] | HCPCI Insurance Operations [Member]
Revenue:
Gross premiums earned		155,382	[1]	96,991	[2]
Premiums ceded		(43,326)		(40,195)
Net premiums earned		112,056		56,796
Net income from investment portfolio		8,228		2,954
Gain from sales of real estate investments				0
Policy fee income		504		563
Other		3,538		4,653
Total revenue		124,326		64,966
Expenses:
Losses and loss adjustment expenses		39,014		28,782
Amortization of deferred policy acquisition costs		10,136		9,621
Other policy acquisition expenses		579		655
Stock-based compensation expense		369		496
Interest expense		0		0
Depreciation and amortization		138		139
Loss on extinguishment of debt				0
Personnel and other operating expenses		11,748		9,919
Total expenses		61,984		49,612
Income (loss) before income taxes		62,342		15,354
Total revenue from non-affiliates		114,956	[3]	56,929	[4]
Gross premiums written		91,875		85,153
Operating Segments [Member] | TypTap Group [Member]
Revenue:
Gross premiums earned		103,748	[1]	87,612	[2]
Premiums ceded		(28,673)		(34,823)
Net premiums earned		75,075		52,789
Net income from investment portfolio		4,543		3,379
Gain from sales of real estate investments				0
Policy fee income		515		527
Other		1,495		1,643
Total revenue		81,628		58,338
Expenses:
Losses and loss adjustment expenses		40,553		33,056
Amortization of deferred policy acquisition costs		10,795		11,863
Other policy acquisition expenses		519		611
Stock-based compensation expense		701		829
Interest expense		1,500		431
Depreciation and amortization		1,088		956
Loss on extinguishment of debt				0
Personnel and other operating expenses		9,970		9,433
Total expenses		65,126		57,179
Income (loss) before income taxes		16,502		1,159
Total revenue from non-affiliates		88,083	[3]	61,286	[4]
Gross premiums written		143,624		114,701
Operating Segments [Member] | Reciprocal Exchange Operations [Member]
Revenue:
Gross premiums earned		3,625
Premiums ceded		(2,218)
Net premiums earned		1,407
Net income from investment portfolio		56
Policy fee income		0
Other		0
Total revenue		1,463
Expenses:
Losses and loss adjustment expenses		1,268
Amortization of deferred policy acquisition costs		0
Other policy acquisition expenses		546
Stock-based compensation expense		0
Interest expense		812
Depreciation and amortization		0
Personnel and other operating expenses		54
Total expenses		2,680
Income (loss) before income taxes		(1,217)
Total revenue from non-affiliates		1,916
Gross premiums written		19,487
Operating Segments [Member] | Real Estate Operations [Member]
Revenue:
Gross premiums earned		0	[1],[5]	0	[2],[6]
Premiums ceded		0	[5]	0	[6]
Net premiums earned		0	[5]	0	[6]
Net income from investment portfolio		0	[5]	0	[6]
Gain from sales of real estate investments	[6]			8,936
Policy fee income		0	[5]	0	[6]
Other		3,447	[5]	2,923	[6]
Total revenue		3,447	[5]	11,859	[6]
Expenses:
Losses and loss adjustment expenses		0	[5]	0	[6]
Amortization of deferred policy acquisition costs		0	[5]	0	[6]
Other policy acquisition expenses		0	[5]	0	[6]
Stock-based compensation expense		0	[5]	0	[6]
Interest expense		223	[5]	203	[6]
Depreciation and amortization		380	[5]	627	[6]
Loss on extinguishment of debt	[6]			177
Personnel and other operating expenses		1,434	[5]	1,554	[6]
Total expenses		2,037	[5]	2,561	[6]
Income (loss) before income taxes		1,410	[5]	9,298	[6]
Total revenue from non-affiliates		2,606	[3],[5]	11,051	[4],[6]
Operating Segments [Member] | Corporate and Other [Member]
Revenue:
Gross premiums earned		0	[1],[7]	0	[2],[8]
Premiums ceded		0	[7]	0	[8]
Net premiums earned		0	[7]	0	[8]
Net income from investment portfolio		4,694	[7]	1,900	[8]
Gain from sales of real estate investments	[8]			0
Policy fee income		0	[7]	0	[8]
Other		1,030	[7]	595	[8]
Total revenue		5,724	[7]	2,495	[8]
Expenses:
Losses and loss adjustment expenses		0	[7]	0	[8]
Amortization of deferred policy acquisition costs		0	[7]	0	[8]
Other policy acquisition expenses		0	[7]	0	[8]
Stock-based compensation expense		512	[7]	781	[8]
Interest expense		2,926	[7]	2,598	[8]
Depreciation and amortization		160	[7]	202	[8]
Loss on extinguishment of debt	[8]			0
Personnel and other operating expenses		3,733	[7]	1,589	[8]
Total expenses		7,331	[7]	5,170	[8]
Income (loss) before income taxes		(1,607)	[7]	(2,675)	[8]
Total revenue from non-affiliates		4,085	[3],[7]	1,926	[4],[8]
Intersegment Eliminations [Member]
Revenue:
Gross premiums earned		(6,111)	[1]	(4,535)	[2]
Premiums ceded		6,111		4,509
Net premiums earned		0		(26)
Net income from investment portfolio		(819)		8,862
Gain from sales of real estate investments				(8,936)
Policy fee income		0		0
Other		(9,155)		(8,529)
Total revenue		(9,974)		(8,629)
Expenses:
Losses and loss adjustment expenses		(913)		(1,273)
Amortization of deferred policy acquisition costs		0		0
Other policy acquisition expenses		(436)		(30)
Stock-based compensation expense		0		0
Interest expense		(2,312)		(431)
Depreciation and amortization		(276)		(537)
Loss on extinguishment of debt				(177)
Personnel and other operating expenses		(6,037)		(6,181)
Total expenses		(9,974)		(8,629)
Income (loss) before income taxes		$ 0		$ 0
[1] Gross premiums earned under HCPCI Insurance Operations consist of $ 149,271 from HCPCI and $ 6,111 from a reinsurance company. Gross premiums earned under HCPCI Insurance Operations consist of $ 92,456 from HCPCI and $ 4,535 from a reinsurance company. Represents amounts before reclassification of certain revenue and expenses to conform with an insurance company’s presentation. Represents amounts before reclassification of certain revenue and expenses to conform with an insurance company’s presentation. Other revenue under real estate primarily consisted of rental income from investment properties. Other revenue under real estate primarily consisted of rental income from investment properties. Other revenue under corporate and other primarily consisted of revenue from marina business and management fees for attorney-in-fact services. Other revenue under corporate and other primarily consisted of revenue from marina business.

Segment Information - Summary_2

Segment Information - Summary of Segment Information Reconciled to Consolidated Statements of Income (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024		Mar. 31, 2023
Segment Reporting Information [Line Items]
Gross premiums earned	$ 256,644	[1]	$ 180,068	[2]
Reinsurance [Member]
Segment Reporting Information [Line Items]
Gross premiums earned	6,111		4,535
HCPCI [Member]
Segment Reporting Information [Line Items]
Gross premiums earned	$ 149,271		$ 92,456
[1] Gross premiums earned under HCPCI Insurance Operations consist of $ 149,271 from HCPCI and $ 6,111 from a reinsurance company. Gross premiums earned under HCPCI Insurance Operations consist of $ 92,456 from HCPCI and $ 4,535 from a reinsurance company.

Segment Information - Summary_3

Segment Information - Summary of Segment Assets Reconciled to Consolidated Balance Sheet (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total assets	$ 1,841,634	$ 1,811,316
Consolidation and Elimination [Member]
Segment Reporting Information [Line Items]
Total assets	(263,652)	(136,375)
HCPCI Insurance Operations [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	921,327	933,116
TypTap Group [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	669,986	623,366
Reciprocal Exchange Operations [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	47,776	25,000
Real Estate Operations [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	131,893	132,257
Corporate and Other [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	$ 334,304	$ 233,952

Leases - Summary of Right-of-us

Leases - Summary of Right-of-use Assets and Liabilities for Operating and Finance Leases (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Operating leases:
ROU Assets	$ 1,352	$ 1,407
Lease liabilities - operating leases	$ 1,357	$ 1,408
Finance leases:
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, Plant and Equipment, Net	Property, Plant and Equipment, Net
ROU assets	$ 1	$ 1
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Long Term Debt And Finance Lease Obligations Excluding Line Of Credit	Long Term Debt And Finance Lease Obligations Excluding Line Of Credit
Liabilities	$ 1	$ 2

Leases - Summary of the Company

Leases - Summary of the Company's operating and finance leases - the Company is lessee (Detail)	3 Months Ended
	Mar. 31, 2024
Office Equipment [Member]
Operating lease:
Renewal Option	true	[1]
Office Equipment [Member] | Minimum [Member]
Operating lease:
Initial Term	36 months	[1]
Finance lease:
Initial Term	3 years 3 months	[2]
Office Equipment [Member] | Maximum [Member]
Operating lease:
Initial Term	63 months	[1]
Office space [Member]
Operating lease:
Renewal Option	true	[1],[3]
Office space [Member] | Minimum [Member]
Operating lease:
Initial Term	5 years	[1],[3]
Office space [Member] | Maximum [Member]
Operating lease:
Initial Term	9 years	[1],[3]
[1] There are no variable lease payments. There is a bargain purchase option. Rent escalation provisions exist.

Leases - Maturities of lease li

Leases - Maturities of lease liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Leases [Abstract]
2024	$ 287
2025	296
2026	306
2027	316
2028	160
Thereafter	219
Total lease payments	1,584
Less: interest	227
Total lease obligations	1,357	$ 1,408
2024	1
2025	0
2026	0
2027	0
2028	0
Thereafter	0
Total lease payments	1
Less: interest	0
Total lease obligations	$ 1	$ 2

Leases -The Company's operating

Leases -The Company's operating and finance leases (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Finance lease costs:
Amortization - ROU assets	[1]	$ 0	$ 4
Operating lease costs	[1]	68	52
Short-term lease costs	[1]	92	93
Total lease costs		160	149
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows – operating leases		70	44
Financing cash flows – finance leases		$ 1	$ 4
Weighted-average remaining lease term:
Finance leases (in years)		6 months
Operating leases (in years)		5 years 4 months 24 days
Weighted-average discount rate:
Finance leases		2.40%
Operating leases		6%
[1] Included in other operating expenses on the consolidated statements of income.

Leases - Summary of the Compa_2

Leases - Summary of the Company's operating leases - the Company is lessor (Detail)	3 Months Ended
	Mar. 31, 2024	[1]
Office space [Member]
Operating lease:
Renewal Option	true
Office space [Member] | Minimum [Member]
Operating lease:
Initial Term	1 year
Office space [Member] | Maximum [Member]
Operating lease:
Initial Term	3 years
Retail space [Member]
Operating lease:
Renewal Option	true
Retail Site [Member] | Minimum [Member]
Operating lease:
Initial Term	3 years
Retail Site [Member] | Maximum [Member]
Operating lease:
Initial Term	20 years
Boat docks/wet slips [Member]
Operating lease:
Renewal Option	true
Boat docks/wet slips [Member] | Minimum [Member]
Operating lease:
Initial Term	1 month
Boat docks/wet slips [Member] | Maximum [Member]
Operating lease:
Initial Term	12 months
[1] There are no purchase options.

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income tax expense	$ 20,474	$ 5,343
Effective tax rate	26.40%	23.10%

Earnings Per Share - Summary of

Earnings Per Share - Summary of Numerator and Denominator of Basic and Fully Diluted Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income	$ 56,956	$ 17,793
Less: Net income attributable to redeemable noncontrolling interest	(10,149)	(2,324)
Less: TypTap Group's net (income) loss attributable to non-HCI common stockholders and TypTap Group's participating securities	804	(131)
Net income attributable to HCI	47,611	15,338
Less: Income attributable to participating securities	(1,218)	(564)
Basic Earnings Per Share:
Income allocated to common stockholders (Numerator)	$ 46,393	$ 14,774
Income allocated to common stockholders, Shares (Denominator)	9,751	8,278
Basic earnings per share	$ 4.76	$ 1.78
Diluted Earnings Per Share:
Income available to common stockholders and assumed conversions (Numerator)	$ 48,033	$ 16,695
Income available to common stockholders and assumed conversions (Denominator)	12,618	10,860
Diluted earnings per share	$ 3.81	$ 1.54
Warrant [Member]
Diluted Earnings Per Share:
Dilutive Securities, Shares (Denominator)	305
Convertible Senior Notes [Member]
Diluted Earnings Per Share:
Convertible senior notes (Numerator)	$ 1,640	$ 1,921
Dilutive Securities, Shares (Denominator)	2,282	2,537
Stock Options [Member]
Diluted Earnings Per Share:
Dilutive Securities, Shares (Denominator)	280	45

Redeemable Noncontrolling Int_3

Redeemable Noncontrolling Interest - Summary of Activity of Redeemable Noncontrolling Interest (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022	Jan. 22, 2024
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests [Abstract]
Beginning Balance	$ 96,160	$ 93,553
Increase (decrease):
Accrued cash dividends	424	1,637
Accretion - increasing dividend rates	111	687
Adjustment to maximum redemption value	6,228
Cash dividends paid to redeemable noncontrolling interest	(2,923)	(3,012)	$ (2,923)
Redemption	(100,000)			$ (102,923)
Ending Balance	$ 0	$ 92,865

Redeemable Noncontrolling Int_4

Redeemable Noncontrolling Interest - Additional Information (Detail) - USD ($) $ in Thousands		3 Months Ended
	Jan. 22, 2024	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Temporary Equity [Line Items]
Preferred Stock redemption value	$ 102,923	$ 100,000
Carrying Value, Redemption Amount	96,695	0	$ 92,865	$ 96,160	$ 93,553
Fair value of the warrants	3,386	3,386
Net income attributable to redeemable noncontrolling interest		10,149	2,324
Adjustment to maximum redemption value		6,228
Accrued cash dividends		424	1,637
Accretion - increasing dividend rates		$ 111	$ 687
Preferred Stock - Par Value [Member] | Series A Preferred Stock [Member]
Temporary Equity [Line Items]
Preferred Stock redemption value	100,000
Unpaid Dividends [Member] | Series A Preferred Stock [Member]
Temporary Equity [Line Items]
Preferred Stock redemption value	$ 2,923

Equity (Common Stock) - Additio

Equity (Common Stock) - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Jan. 24, 2024	Jan. 22, 2024
Class of Stock [Line Items]
Dividends per common share	$ 0.4
Dividends, date of declared	Jan. 24, 2024
Dividends, date of record	Feb. 16, 2024
Dividends, date of payment	Mar. 15, 2024
Maximum [Member]
Class of Stock [Line Items]
Capital Raise From Common Stock Issuance		$ 75,000

Equity (Warrants) - Additional

Equity (Warrants) - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
	Jan. 22, 2024	Mar. 31, 2024
Class of Stock [Line Items]
Remaining Warrants	450,000
Fair value of the warrants	$ 3,386	$ 3,386
Warrants		450,000
Exercise price		$ 54.4
Warrants Expiration Date	Feb. 26, 2025
Original Warrants [Member]
Class of Stock [Line Items]
Underlying Warrants	300,000
Warrant Increment One [Member]
Class of Stock [Line Items]
Warrants Expiration Date	Dec. 31, 2026
Warrant Increment One [Member] | Amended Warrants [Member]
Class of Stock [Line Items]
Warrants Outstanding One	150,000
Warrant Increment Two [Member]
Class of Stock [Line Items]
Warrants Expiration Date	Dec. 31, 2027
Warrant Increment Two [Member] | Amended Warrants [Member]
Class of Stock [Line Items]
Warrants Outstanding Two	150,000
Warrant Increment Three [Member]
Class of Stock [Line Items]
Warrants Expiration Date	Dec. 31, 2028
Warrant Increment Three [Member] | Amended Warrants [Member]
Class of Stock [Line Items]
Warrants outstanding three	150,000

Equity (Noncontrolling Interest

Equity (Noncontrolling Interest) - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Class of Stock [Line Items]
Common stock, outstanding	10,276,463		9,738,183
Purchase of noncontrolling interests	$ 33	$ 198
Common Stock [Member]
Class of Stock [Line Items]
Repurchase and retirement of common stock, shares	5,656	5,884
TTIG [Member]
Class of Stock [Line Items]
Common stock, outstanding	80,329,238
Purchase of noncontrolling interests	$ (33)	$ 198
TTIG [Member] | Common Stock [Member]
Class of Stock [Line Items]
Repurchase and retirement of common stock, shares	22,787	34,108
TTIG [Member] | Noncontrolling Interests [Member]
Class of Stock [Line Items]
Common stock, outstanding	5,329,238

Stock-Based Compensation (2012

Stock-Based Compensation (2012 Omnibus Incentive Plan) - Additional Information (Detail)	Mar. 31, 2024 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares available for grant	962,406

Stock-Based Compensation (Stock

Stock-Based Compensation (Stock Options) - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options exercised	0	0
Recognized compensation expenses	$ 1,582	$ 2,106
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options vesting period	4 years
Stock options exercisable contractual term	10 years
Recognized compensation expenses	$ 14	90
Deferred tax benefits recognized	0	$ 0
Unrecognized compensation expense related to nonvested stock options	$ 0		$ 14

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Company's Stock Option Plan Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, Beginning Balance, Number of Options	590,000	440,000	440,000
Outstanding, Ending Balance, Number of Options	590,000	440,000	590,000	440,000
Exercisable, Number of Options	590,000	412,500
Outstanding, Beginning Balance, Weighted Average Exercise Price	$ 51.54	$ 45.25	$ 45.25
Outstanding, Ending Balance, Weighted Average Exercise Price	51.54	45.25	$ 51.54	$ 45.25
Exercisable, Weighted-Average Exercise Price	$ 51.54	$ 45.07
Outstanding, Weighted-Average Remaining Contractual Term	5 years 7 months 6 days	5 years 3 months 18 days	5 years 10 months 24 days	5 years 7 months 6 days
Exercisable, Weighted-Average Remaining Contractual Term	5 years 7 months 6 days	5 years 2 months 12 days
Outstanding, Aggregate Intrinsic Value	$ 38,077	$ 3,146	$ 21,156	$ 0
Exercisable, Aggregate Intrinsic Value	$ 38,077	$ 3,031

Stock Based Compensation - Info

Stock Based Compensation - Information with Respect to Unvested Restricted Stock Awards and Incentive Plan (Detail) - Restricted Stock [Member] - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning balance, shares	271,417	342,459
Granted, Number of Restricted Stock Awards		6,000
Vested, Number of Restricted Stock Awards	(29,690)	(40,352)
Forfeited, Number of Restricted Stock Awards	(200)	(2,125)
Ending balance, shares	241,527	305,982
Nonvested, Weighted-Average Grant Date Fair Value, Beginning balance	$ 37.12	$ 39.86
Granted, Weighted-Average Grant Date Fair Value		51.76
Vested, Weighted-Average Grant Date Fair Value	56.05	54.83
Forfeited, Weighted-Average Grant Date Fair Value	51.87	40.33
Nonvested, Weighted-Average Grant Date Fair Value, Ending balance	$ 34.78	$ 38.11

Stock-Based Compensation (Restr

Stock-Based Compensation (Restricted Stock Awards) - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized compensation expenses	$ 1,582	$ 2,106
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized compensation expenses	867	$ 1,187
Unrecognized compensation expense related to nonvested restricted stock	$ 3,165		$ 4,043
Recognition of remaining compensation expense over a weighted-average period	1 year 4 months 24 days

Stock-Based Compensation - Info

Stock-Based Compensation - Information about Deferred Tax Benefits Recognized Related to Restricted Stock Awards, Paid Dividends and the Fair Value of Vested Restricted Stock (Detail) - Restricted Stock [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred tax benefits recognized	$ 99	$ 263
Tax benefits realized for restricted stock and paid dividends	511	299
Fair value of vested restricted stock	$ 1,664	$ 2,213

Stock-Based Compensation (Subsi

Stock-Based Compensation (Subsidiary Equity Plan) - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized compensation expenses	$ 1,582	$ 2,106
TTIG [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized compensation expenses	701	$ 829
Unrecognized compensation expense related to nonvested restricted stock and stock options	$ 3,696		$ 4,438

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) Reinsurance	Dec. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Number of multi-year reinsurance contracts | Reinsurance	1
Contractual Obligation	$ 91,350
Unfunded balance	3,806	$ 4,205
Amount of FIGA assessments payable	$ 1,651

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) $ / shares in Units, $ in Thousands

3 Months Ended

Apr. 24, 2024 $ / shares

Apr. 23, 2024 USD ($) InsurancePolicy

Apr. 17, 2024 TradingDay $ / shares shares

Apr. 01, 2024 USD ($)

Jan. 24, 2024 $ / shares

Mar. 31, 2024 USD ($)

Mar. 31, 2023 shares

Mar. 15, 2028 shares

Mar. 15, 2027 shares

Mar. 15, 2026 shares

Mar. 15, 2025 shares

Dec. 31, 2023 USD ($)

Subsequent Event [Line Items]

Dividends per common share | $ / shares

$ 0.4

Long-Term Line of Credit | $

$ 50,000

$ 0

Dividends, date of declared

Jan. 24, 2024

Dividends, date of record

Feb. 16, 2024

Dividends, date of paid

Mar. 15, 2024

Annualized Premiums Written | $

87,800

Revolving Credit Facility [Member]

Subsequent Event [Line Items]

Long-Term Line of Credit | $

$ 50,000

Restricted Stock [Member]

Subsequent Event [Line Items]

Granted, Number of Restricted Stock Awards | shares

6,000

Subsequent Event [Member]

Subsequent Event [Line Items]

Dividends per common share | $ / shares

$ 0.4

Repayments of lines of credit | $

$ 2,000

Vesting period, description

The shares will vest equally over a period of four years, with vesting dates of March 15, 2025, 2026, 2027, and 2028, under the condition that the price per share reaches $200 for a period of 30 consecutive trading days.

Common stock target price | $ / shares

$ 200

Number of consecutive trading days required for shares to vest | TradingDay

30

Dividends, date of declared

Apr. 24, 2024

Dividends, date of record

May 17, 2024

Dividends, date of paid

Jun. 21, 2024

Subsequent Event [Member] | Revolving Credit Facility [Member]

Subsequent Event [Line Items]

Long-Term Line of Credit | $

$ 48,000

Subsequent Event [Member] | Restricted Stock [Member]

Subsequent Event [Line Items]

Granted, Number of Restricted Stock Awards | shares

200,000

Subsequent Event [Member] | Restricted Stock [Member] | Maximum [Member]

Subsequent Event [Line Items]

Stock options vesting period

4 years

Subsequent Event [Member] | Tranche One [Member] | Restricted Stock [Member]

Subsequent Event [Line Items]

Share-Based Compensation Arrangement, Options, Vested and Expected to Vest, Exercisable, Shares | shares

50,000

Subsequent Event [Member] | Tranche Three [Member] | Restricted Stock [Member]

Subsequent Event [Line Items]

Share-Based Compensation Arrangement, Options, Vested and Expected to Vest, Exercisable, Shares | shares

50,000

Subsequent Event [Member] | Tranche Two [Member] | Restricted Stock [Member]

Subsequent Event [Line Items]

Share-Based Compensation Arrangement, Options, Vested and Expected to Vest, Exercisable, Shares | shares

50,000

Subsequent Event [Member] | Tranche Four [Member] | Restricted Stock [Member]

Subsequent Event [Line Items]

Share-Based Compensation Arrangement, Options, Vested and Expected to Vest, Exercisable, Shares | shares

50,000

Subsequent Event [Member] | Condo Owners Reciprocal Exchange [Member]

Subsequent Event [Line Items]

Assumed Policies | InsurancePolicy

148

Annualized Premiums Written | $

$ 15,700