Latest news with #PareshPatel
Globe and Mail
7 days ago
- Business
- Globe and Mail
HCI Group Announces Completion of its 2025 – 2026 Catastrophe Reinsurance Programs
TAMPA, Fla., June 02, 2025 (GLOBE NEWSWIRE) -- HCI Group, Inc. (NYSE: HCI) has successfully completed its catastrophe reinsurance programs for the 2025-2026 treaty year, which runs from June 1, 2025 through May 31, 2026. 'We are grateful for the strong support from our global reinsurance partners, whose continued confidence in HCI underscores the quality of our underwriting and our disciplined approach to risk,' said Paresh Patel, HCI's chairman and chief executive officer. 'We believe our reinsurance programs are prudently structured to protect the long-term financial stability of our insurance companies. With the reinsurance placement now finalized, we are well-positioned to pursue strategic initiatives aimed at delivering sustained value to our shareholders.' HCI secured three reinsurance towers for the 2025-2026 treaty year. Reinsurance Tower 1 is shared between HCI subsidiary, Homeowners Choice Property & Casualty Insurance Company, and HCI sponsored reciprocal insurance company, Tailrow Insurance Exchange, and covers all Homeowners Choice policies issued in Florida and all Tailrow policies issued in Florida. Reinsurance Tower 2 is shared between HCI subsidiary, TypTap Insurance Company, and Homeowners Choice and covers all TypTap policies (whether issued in Florida or outside of Florida) and all Homeowners Choice policies issued outside of Florida. Reinsurance Tower 3 covers all Condo Owners Reciprocal Exchange policies issued in Florida. Condo Owners Reciprocal Exchange, known as CORE, is a reciprocal insurance company sponsored by HCI. Across the three reinsurance towers, HCI secured over $3.5 billion in excess of loss aggregate limit and full reinstatement premium protection for the 2025-2026 treaty year. Claddaugh Casualty Insurance Company Ltd, HCI's Bermuda-based reinsurance subsidiary, selectively participates across all three reinsurance towers. All participating reinsurers are AM Best rated 'A-' (Excellent) or better or have fully collateralized their obligations to HCI. The statutory retentions for the first and second event are $18 million for both Reinsurance Tower 1 and Reinsurance Tower 2, and $3 million for Reinsurance Tower 3. Claddaugh's estimated maximum retained loss is approximately $117 million for a first event and $35 million for a second event. For the three reinsurance towers, HCI expects to incur net consolidated reinsurance premiums ceded to third parties, excluding Claddaugh, of approximately $422 million from June 1, 2025 through May 31, 2026. The reinsurance premiums are an estimate based on exposure projections and subject to true up at September 30, 2025. More information is available in the Company's Form 8-K, filed today with the U.S. Securities and Exchange Commission. About HCI Group, Inc. HCI Group is a holding company with two distinct operating units. The first unit includes four top-performing insurance companies, a captive reinsurance company, and operations in claims management and real estate. The second unit, called Exzeo Group, is a leading innovator of insurance technology that utilizes advanced underwriting algorithms and data analytics. Exzeo empowers property and casualty insurers to transform underwriting outcomes and achieve industry-leading results. The company's common shares trade on the New York Stock Exchange under the ticker symbol "HCI" and are included in the Russell 2000 and S&P SmallCap 600 Index. HCI Group, Inc. regularly publishes financial and other information in the Investor Information section of the company's website. For more information about HCI Group and its subsidiaries, visit
News18
22-05-2025
- News18
Gujarati Man Shot Dead By Gunman Posing As Customer At Shop In US
Last Updated: The victim was identified as Paresh Patel who hailed from Gujarat's Dingucha village. The video of the shooting was captured in the CCTV camera at the shop. A Gujarati man was shot dead by a gunman posing as a customer in a shop in the United States. The incident was caught on the CCTV camera installed at the spot. The victim was identified as Paresh Patel, who hailed from Dingucha village in Gujarat. When Patel was in the shop, the attacker entered posing as a customer and attempted a robbery at the cash counter. As Patel followed his commands, the killer robbed all his money and later shot him dead. Earlier in March this year, a father and a daughter were shot dead in a Virginia shooting in the US. The victims were identified as Pradeep Patel and Urmi. The father died on the spot, while his daughter succumbed to her injuries two days later. A man was later arrested in connection with the shooting. Chandu Patel, a leader from the Kadva Patidar community in Kanoda and Pradeep's uncle, said the family found out about the shocking incident through the news. 'Pradeep and Urmi had just opened their shop around 5 am on March 20 when a man walked in and started shooting. Both of them were shot. The man who did it, George Frazier Devon Wharton, has been caught by the police," he said. Watch India Pakistan Breaking News on CNN-News18. Get breaking news, in-depth analysis, and expert perspectives on everything from geopolitics to diplomacy and global trends. Stay informed with the latest world news only on News18. Download the News18 App to stay updated!
NDTV
21-05-2025
- NDTV
Indian Man Shot Dead In US By Man Posing To Be Customer
Quick Read Summary is AI generated, newsroom reviewed. An Indian-origin man, Paresh Patel, was fatally shot in the U.S. by a robber posing as a customer, captured on CCTV. In 2023, 86 Indians faced violent attacks abroad, prompting the Indian government to prioritise safety and ensure proper investigations. An Indian origin man was fatally shot by a man posing as a customer in the United States. The entire incident was caught on CCTV camera. Paresh Patel, the victim, was from Dingucha, a village in the state of Gujarat, in India. The victim was in the shop, when the killer came to the shop and posed as a customer. The killer first tried to rob him of the money at the cash counter. Patel seemed to follow his instructions, however the killer shot him dead after robbing all the money. According to the Indian government, 86 Indian nationals were attacked or killed in various countries in 2023. Minister of state for external affairs Kirti Vardhan Singh informed in the Parliament last December that out of the 86 Indian nationals attacked or murdered in 2023, 12 were in the United States, and 10 each were in Canada, the United Kingdom and Saudi Arabia. 'The safety and security of Indians abroad is one of the foremost priorities for the government of India. Our missions and posts remain vigilant and closely monitor any untoward incident. Such incidents are immediately taken up with the concerned authorities of the host country to ensure that the cases are properly investigated and the perpetrators are punished,' said Kirti Vardhan Singh.
Yahoo
28-03-2025
- Business
- Yahoo
Greenleaf Capital, the Real Estate Division of HCI Group, Enters Into New Multi-Year Lease Agreement for Office Campus in Tampa
TAMPA, Fla., March 28, 2025 (GLOBE NEWSWIRE) -- HCI Group, Inc. (NYSE: HCI) announced today that GEICO has signed a multi-year lease agreement to fully occupy a three building campus in Tampa, Florida owned as an investment property by Greenleaf Capital, the company's real-estate division. 'We are excited to secure a long-term tenant who plans to bring more than 1,000 new jobs to our local community,' said Paresh Patel, HCI's chairman and chief executive officer. Greenleaf acquired the office campus in 2023, which includes approximately 190,000 square feet of leasable space. HCI currently reports the office campus at a carrying value of approximately $17 million on its balance sheet. With the new tenant secured, the campus is now fully leased under a multi-year agreement. 'We believe the combination of property improvements and the long-term lease with a high-quality tenant greatly enhances the equity value of the investment. Greenleaf has a proven history of acquiring properties at favorable prices, enhancing them through strategic improvements, and generating tremendous long-term value for HCI shareholders,' said Paresh Patel, HCI's chairman and chief executive officer. About HCI Group, Group is a holding company with two distinct operating units. The first unit includes four top-performing insurance companies, a captive reinsurance company, and operations in claims management and real estate. The second unit, called Exzeo Group, is a leading innovator of insurance technology that utilizes advanced underwriting algorithms and data analytics. Exzeo empowers property and casualty insurers to transform underwriting outcomes and achieve industry-leading results. The company's common shares trade on the New York Stock Exchange under the ticker symbol "HCI" and are included in the Russell 2000 and S&P SmallCap 600 Index. HCI Group, Inc. regularly publishes financial and other information in the Investor Information section of the company's website. For more information about HCI Group and its subsidiaries, visit Company Contact:Bill Broomall, CFA Investor RelationsHCI Group, (813) 776-1012wbroomall@ Investor Relations Contact:Matt GloverGateway Group, Inc. Tel 949-574-3860HCI@ in to access your portfolio
Yahoo
04-03-2025
- Business
- Yahoo
ATFX Appoints Paresh Patel as Global Head of Trading & Risk Management
HONG KONG, March 4, 2025 /PRNewswire/ -- ATFX is pleased to welcome Paresh Patel as its new Global Head of Trading & Risk Management. With over 20 years of industry experience, Paresh brings expertise in trading strategies, risk management, liquidity management, and market execution. His leadership will enhance ATFX's trading operations and risk framework, ensuring efficiency for clients worldwide. Before joining ATFX, Paresh served as Global Head of Trading at FXCM, where he played a key role in shaping trading infrastructure and risk strategies. His strong analytical approach and background in finance and management information systems have made him a recognized industry expert. As Global Head of Trading & Risk Management, Paresh will oversee ATFX's trading operations, liquidity strategies, and risk controls. His focus will be on strengthening risk management systems, expanding product offerings, and securing top-tier liquidity to enhance ATFX's trading environment. By optimizing trade execution, refining risk frameworks, and broadening market access, he aims to further elevate ATFX's competitive edge in the industry. His appointment reinforces ATFX's commitment to strengthening its trading services and delivering best-in-class client experiences. Reflecting on his new role, Paresh Patel stated, "ATFX has built a strong reputation in the industry, and I'm honored to be part of its journey. The company's commitment to innovation and client service resonates with me, and I look forward to contributing to its continued success." Paresh's appointment highlights ATFX's commitment to hiring top industry professionals to strengthen its trading services and risk management capabilities. With his leadership, ATFX is set to advance its infrastructure, refine execution, and deliver exceptional client service. About ATFX ATFX is a leading global fintech broker with a local presence in 23 locations and licenses from regulatory authorities including the UK's FCA, Australian ASIC, Cypriot CySEC, UAE's SCA, Hong Kong SFC and South African FSCA. With a strong commitment to customer satisfaction, innovative technology, and strict regulatory compliance, ATFX provides exceptional trading experiences to clients worldwide. For further information on ATFX, please visit ATFX website View original content to download multimedia: SOURCE ATFX Sign in to access your portfolio
