HCI’s Tailrow assumes 14,000 policies from Citizens

Florida-domiciled insurtech, HCI Group, Inc.’s sponsored reciprocal insurer, Tailrow Insurance Exchange, has successfully assumed just under 14,000 policies totalling approximately $35 million of in-force premium from Florida’s state-backed insurance company, Citizens Property Insurance Corporation.

HCI confirms the assumption of policies by Tailrow became effective on February 18th, 2025.

Tailrow has plans to write personal residential policies and was approved for 20,000 policies, made approximately 18,000 offers and assumed just under 14,000 policies, a 76% acceptance rate.

Paresh Patel, Chairman and Chief Executive Officer, HCI, commented, “We are excited to complete this assumption and officially commence operations at Tailrow.

“The technology we’ve built and our management expertise enabled us to identify attractive policies at Citizens for assumption and achieve a high adoption rate by policyholders.”

The Florida Office of Insurance Regulation approved Tailrow’s application for a permit to become an authorised domestic insurer and offer homeowners multi-peril insurance in the state in April 2023.

In October 2024, HCI’s insurance subsidiaries assumed over 42,000 policies totalling approximately $200 million of in-force premium from Citizens Property Insurance Corporation.

Before this in December 2023, TypTap Insurance Company assumed approximately $30 million of in-force premiums from Citizens Property Insurance Corporation.

Back in November 2023, Homeowners Choice assumed approximately 53,750 policies from Citizens, which totalled roughly $196 million of in-force premium.

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