Segment Information (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Summary of Segment Information Reconciled to Consolidated Statements of Income

The following tables present

segment information reconciled to the Company’s consolidated statements of income. Intersegment transactions are not eliminated from segment results. However, intracompany transactions are eliminated in segment results below.

For the Year Ended December 31, 2022	HCPCI Insurance Operations			TypTap Group			Real Estate (a)		Corporate/ Other (b)			Reclassification/ Elimination			Consolidated
Revenue:
Gross premiums earned (c)	$	439,499		$	298,215		$	—	$	—		$	(12,998	)	$	724,716
Premiums ceded		(162,112	)		(110,299	)		—		—			11,267			(261,144	)
Net premiums earned		277,387			187,916			—		—			(1,731	)		463,572
Net income from investment portfolio		1,641			3,991			—		2,736			15,739			24,107
Policy fee income		2,482			1,797			—		—			—			4,279
Gain on involuntary conversion		—			—			13,402		—			(13,402	)		—
Gain from remeasurement of contingent liabilities		585			2,532			—		—			—			3,117
Other		25,155			2,302			10,365		3,752			(37,086	)		4,488
Total revenue		307,250			198,538			23,767		6,488			(36,480	)		499,563
Expenses:
Losses and loss adjustment expenses		204,549			173,828			—		—			(6,914	)		371,463
Amortization of deferred policy acquisition costs		56,841			43,828			—		—			—			100,669
Other policy acquisition expenses		2,557			1,905			—		—			(154	)		4,308
Stock-based compensation expense		3,879			3,512			—		7,716			—			15,107
Interest expense		—			883			892		6,875			(882	)		7,768
Depreciation and amortization		626			3,185			2,501		868			(2,401	)		4,779
Impairment loss		652			1,632			—		—			—			2,284
Personnel and other operating expenses		44,752			31,548			4,884		6,548			(26,129	)		61,603
Total expenses		313,856			260,321			8,277		22,007			(36,480	)		567,981
(Loss) income before income taxes	$	(6,606	)	$	(61,783	)	$	15,490	$	(15,519	)	$	—		$	(68,418	)
Total revenue from non-affiliates (d)	$	273,222		$	207,728		$	22,413	$	3,937
Gross premiums written	$	377,860		$	348,159

(a) Other revenue under real estate primarily consisted of rental income from investment properties.

(b) Other revenue under corporate and other primarily consisted of revenue from marina business.

(c) Gross premiums earned under HCPCI Insurance Operations consist of $426,501 from HCPCI and $12,998 from a reinsurance company.

(d) Represents amounts before reclassification of certain revenue and expenses to conform with an insurance company’s presentation.

For the Year Ended December 31, 2021	HCPCI Insurance Operations			TypTap Group			Real Estate (a)		Corporate/ Other (b)			Reclassification/ Elimination			Consolidated
Revenue:
Gross premiums earned (c)	$	404,362		$	175,907		$	—	$	—		$	(3,225	)	$	577,044
Premiums ceded		(140,902	)		(61,534	)		—		—			2,695			(199,741	)
Net premiums earned		263,460			114,373			—		—			(530	)		377,303
Net income from investment portfolio		8,130			1,306			—		6,613			4,121			20,170
Policy fee income		2,794			1,201			—		—			—			3,995
Other		6,356			1,606			12,226		1,794			(15,535	)		6,447
Total revenue		280,740			118,486			12,226		8,407			(11,944	)		407,915
Expenses:
Losses and loss adjustment expenses		147,198			80,863			—		—			(536	)		227,525
Amortization of deferred policy acquisition costs		56,470			30,493			—		—			—			86,963
Other policy acquisition expenses		2,851			4,100			—		—			—			6,951
Stock-based compensation expense		3,553			3,380			—		6,821			—			13,754
Interest expense		—			113			1,202		5,467			(382	)		6,400
Depreciation and amortization		86			1,336			2,319		884			(2,441	)		2,184
Debt conversion expense		—			—			—		1,754			—			1,754
Personnel and other operating expenses		20,647			28,357			4,424		6,308			(8,585	)		51,151
Total expenses		230,805			148,642			7,945		21,234			(11,944	)		396,682
Income (loss) before income taxes	$	49,935		$	(30,156	)	$	4,281	$	(12,827	)	$	—		$	11,233
Total revenue from non-affiliates (d)	$	277,333		$	119,703		$	10,872	$	7,406
Gross premiums written	$	426,910		$	247,479

(a) Other revenue under real estate primarily consisted of rental income from investment properties.

(b) Other revenue under corporate and other primarily consisted of revenue from marina business.

(c) Gross premiums earned under HCPCI Insurance Operations consist of $401,137 from HCPCI and $3,225 from a reinsurance company.

(d) Represents amounts before reclassification of certain revenue and expenses to conform with an insurance company’s presentation.

For the Year Ended December 31, 2020	HCPCI Insurance Operations			TypTap Group			Real Estate (a)		Corporate/ Other (b)			Reclassification/ Elimination			Consolidated
Revenue:
Gross premiums earned (c)	$	342,764		$	78,836		$	—	$	—		$	(5,682	)	$	415,918
Premiums ceded		(130,318	)		(28,822	)		—		—			5,682			(153,458	)
Net premiums earned		212,446			50,014			—		—			—			262,460
Net income from investment portfolio		6,423			793			3		15			(1,602	)		5,632
Policy fee income		2,702			820			—		—			—			3,522
Gain on involuntary conversion		—			—			36,969		—			—			36,969
Other		1,768			100			9,502		1,948			(11,464	)		1,854
Total revenue		223,339			51,727			46,474		1,963			(13,066	)		310,437
Expenses:
Losses and loss adjustment expenses		125,977			34,059			—		—			—			160,036
Amortization of deferred policy acquisition costs		35,410			13,715			—		—			—			49,125
Other policy acquisition expenses		3,496			1,865			—		—			—			5,361
Stock-based compensation expense		1,645			1,808			—		4,680			—			8,133
Interest expense		—			2			1,947		10,709			(924	)		11,734
Depreciation and amortization		85			1,102			2,526		634			(2,494	)		1,853
Loss on repurchases of convertible senior notes		—			—			—		150			—			150
Loss on extinguishment of debt		—			—			98		—			—			98
Personnel and other operating expenses		17,778			15,637			5,388		7,864			(9,648	)		37,019
Total expenses		184,391			68,188			9,959		24,037			(13,066	)		273,509
Income (loss) before income taxes	$	38,948		$	(16,461	)	$	36,515	$	(22,074	)	$	—		$	36,928
Total revenue from non-affiliates (d)	$	221,633		$	52,807		$	44,709	$	640
Gross premiums written	$	399,299		$	104,855

(a) Other revenue under real estate primarily consisted of rental income from investment properties.

(b) Other revenue under corporate and other primarily consisted of revenue from restaurant and marina businesses.

(c) Gross premiums earned under HCPCI Insurance Operations consist of $337,082 from HCPCI and $5,682 from a reinsurance company.

(d) Represents amounts before reclassification of certain revenue and expenses to conform with an insurance company’s presentation.

Summary of Segment Assets Reconciled to Consolidated Balance Sheets

The following table presents segment assets reconciled to the Company’s total assets on the consolidated balance sheets:

	December 31,
	2022			2021
Segments:
HCPCI Insurance Operations	$	912,233		$	676,509
TypTap Group		704,429			369,600
Real Estate Operations		126,001			127,651
Corporate and Other		159,378			65,349
Consolidation and Elimination		(98,713	)		(62,252	)
Total assets	$	1,803,328		$	1,176,857