HCI Group, Inc. (NYSE:HCI) Q4 2023 Earnings Call Transcript

So these are things that are causing us to not move as quickly as people might anticipate because in being patient, we’re actually I think creating greater value for our shareholders, which ultimately is the goal.

Casey Alexander: Okay. Thank you for that. And my last question is, there’s significant indication that — interest rates are likely to be declining at some point in time here in the next several months. Just look at Chairman Powell’s testimony earlier today. And you guys have a significant cash hoard. At what point in time do you start to kind of extend duration a little bit and try to capture some of some of that yield curve for a little longer compared to where short-term rates are likely to go over the next 12 to 24 months?

Paresh Patel: Funny you bring that up. We were just having that discussion internally, right? And I think in the coming months we will be extending duration and you’re going more towards fixing the yield on our cash hoard. So yes, we are exactly the same mind and we are starting to move in that direction.

Casey Alexander: Okay. Well, thank you for taking my questions. Appreciate it.

Mark Harmsworth: Thank you.

Paresh Patel: Okay.

Operator: At this time, this concludes the question-and-answer session. I would now like to turn the call back to Paresh Patel who has a few closing remarks.

End of Q&A:

Paresh Patel: Thank you. On behalf of the entire management team, I would like to thank our shareholders, employees, agents, and most importantly our policyholders for their continued support. Thank you.

Operator: At this time, this concludes our question-and-answer session. This concludes today’s call. You may now disconnect.