Equity |
6 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Equity [Abstract] | |
| Equity | Note 20 -- Equity Stockholders’ Equity Common Stock On April 23, 2025, the Company’s Board of Directors declared a quarterly dividend of $0.40 per common share. The dividends were paid on June 20, 2025 to stockholders of record on May 16, 2025. Warrants On March 11, 2024, 300,000 warrants were exercised through a cashless transaction resulting in the issuance of 155,049 shares of common stock. As of June 30, 2025, there were 11,250 warrants outstanding at an exercise price of $54.40 with an expiration date of December 31, 2028. At-The-Market Facility On January 22, 2024, the Company implemented an “at-the-market” facility (the “ATM Facility”) which gives the Company the ability to raise up to $75,000 through the issuance of new shares of common stock through a sales agent (the “Sales Agent”). The Company has no obligation to sell, and the Sales Agent has no obligation to buy or sell, any shares of common stock under the ATM Facility. As of June 30, 2025 the remaining availability under the ATM Facility was $75,000. Noncontrolling Interests Exzeo During the three and six months ended June 30, 2025, Exzeo did not repurchase and retire any shares of common stock from current or former employees. During the three and six months ended June 30, 2024, Exzeo repurchased and retired a total of 23,071 and 45,858 shares, respectively, of its common stock. The total cost of purchasing noncontrolling interests during the three and six months ended June 30, 2024 was $49 and $82, respectively. Exzeo repurchased common shares from its current employees to satisfy payroll tax liabilities in connection with the vesting of restricted stock awards. In addition, Exzeo repurchased and retired a total of 6,830 shares of its common stock from former Exzeo employees for a total cost of $12 for the three and six months ended June 30, 2024. The total cost included the fair value of Exzeo common stock and a $2 inducement cost for the purpose of curtailing the spread of share ownership. As of June 30, 2025, there were 82,701,189 shares of Exzeo’s common stock outstanding, of which 7,701,189 shares were not owned by HCI. Consolidated Variable Interest Entities As described in Note 14 “Variable Interest Entities,” the Company has no equity interest at risk in consolidated VIEs. An insurance exchange receives surplus contributions from its subscribers in addition to policy premiums. The surplus contribution is payable to an insurance exchange on or prior to the initial effective date of coverage, in installments for certain payment plans, and on or prior to the effective date of all endorsements generating an additional premium. |