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Stock Market & Financial Investment News

News Breaks
June 23, 2014
16:10 EDTHCIHCI Group in LOI to acquire Prepared Insurance Company
HCI Group has entered into a non-binding letter of intent to acquire Prepared Holdings and its subsidiaries, including Florida-based insurer Prepared Insurance Company. Prepared Insurance provides homeowners' insurance to approximately 21,500 Florida policyholders representing approximately $48M of annualized premium. The letter of intent sets the purchase price at $27M, less the amounts owing under certain notes payable and other incidental items. The letter of intent represents a preliminary understanding and summarizes the principal provisions to be included in a more definitive agreement yet to be reached by the parties. The proposed acquisition is subject to various contingencies, including approval by the Florida Office of Insurance Regulation.
News For HCI From The Last 14 Days
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December 18, 2014
16:11 EDTHCIHCI Group unit assumes 36K policies from Citizens Property Insurance
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