HCI GROUP, INC. FILES (8-K) Disclosing Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement

Effective June 1, 2022, in connection with our ongoing transaction with United
Property & Casualty Insurance Company, we entered into a new Quota Share
Reinsurance Agreement with United. Our previous quota share agreement with
United expired as of May 31, 2022. As part of the transition of policies from
United to HCI, we have agreed to provide 100% quota share reinsurance on all of
United's in-force, new and renewal policies in the states of Georgia, North
Carolina and South Carolina from June 1, 2022 through May 31, 2023. In exchange,
we will pay United a ceding commission of 16% of premium.

The agreement represents approximately $73 million of annual premiums, which
will ultimately transfer to our affiliate TypTap Insurance Company.

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