M&A Deal Summary

HCI Acquires United Property & Casualty Insurance

On December 17, 2020, HCI acquired insurance company United Property & Casualty Insurance from AmCoastal

Acquisition Highlights
  • This is HCI’s 2nd transaction in the Insurance sector.
  • This is HCI’s 2nd transaction in the United States.
  • This is HCI’s 1st transaction in Connecticut.

M&A Deal Summary
Date 2020-12-17
Target United Property & Casualty Insurance
Sector Insurance
Buyer(s) HCI
Sellers(s) AmCoastal
Deal Type Divestiture

Target

United Property & Casualty Insurance

Connecticut, United States
United Property & Casualty Insurance Co. operates an insurance business in the states of Connecticut, New Jersey, Massachusetts, and Rhode Island.

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Buyer(S) 1

Buyer

HCI

Tampa, Florida, United States
Category Company
Founded 2006
Sector Insurance
Employees547
Revenue 550M USD (2023)
DESCRIPTION

HCI is a provider of homeowners insurance, reinsurance, real estate and information technology services. HCI was founded in 2006 and is based in Tampa, Florida.

DEAL STATS #
Overall 2 of 3
Sector (Insurance) 2 of 3
Type (Divestiture) 1 of 2
State (Connecticut) 1 of 1
Country (United States) 2 of 3
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-24 Prepared Holdings

Tampa, Florida, United States

Prepared Holdings, LLC operates as property and casualty insurance holding company.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-16 United Personal lines Insurance Business

Georgia, United States

United Personal lines Insurance Business provides insurance in the states of Georgia, North Carolina, and South Carolina.

Buy -

Seller(S) 1

SELLER

AmCoastal

St. Petersburg, Florida, United States
Category Company
Founded 1999
Sector Insurance
Employees71
Revenue 286M USD (2023)
DESCRIPTION

American Coastal Insurance is a homeowners insurance company provides a diversified book of business in coastal areas from Texas to Maine that is currently writing in eight states and licensed in eighteen states. American Coastal Insurance was founded in 1999 and is based in St. Petersburg, Florida.

DEAL STATS #
Overall 1 of 1
Sector (Insurance) 1 of 1
Type (Divestiture) 1 of 1
State (Connecticut) 1 of 1
Country (United States) 1 of 1
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-17 American Coastal Insurance

Sunrise, Florida, United States

American Coastal Insurance Co. is a specialty underwriter focused primarily on the commercial residential property insurance market in Florida. ACIC has a long term exclusive agreement with AmRisc, LLC, the largest commercial windstorm MGA in the United States, which serves as the sole managing general agent to source and administer business for ACIC. In 2015, ACIC reported $308.5 million of direct premium written, $36.5 million in after-tax GAAP earnings, and finished the year with $195.8 million of tangible book value.

Buy -
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