Paresh Patel is the CEO of HCI Group, Inc., where he's made a notable impact since taking the role in 2012. With a background in Business Administration and extensive experience in the insurance field, he has focused on modernizing the...

Paresh Patel is the CEO of HCI Group, Inc., where he's made a notable impact since taking the role in 2012. With a background in Business Administration and extensive experience in the insurance field, he has focused on modernizing the company into a technology-driven insurer. Under his guidance, HCI has navigated through challenges, including market fluctuations and the COVID-19 pandemic. His management style includes a heavy reliance on performance metrics, aligning his compensation with the company's success. In 2023, he earned a total compensation of $3.66 million, where his base salary was $950,000, and he received a substantial bonus linked to achieving financial targets. Notably, Patel has exhibited savvy trading behavior, consistently reporting significant insider trading values, peaking at $15.34 million in October 2021. This activity implies confidence in HCI's prospects under his leadership. Beyond numbers, Patel's strategic decisions have propelled HCI's brand in the insurance technology sector, showing that a blend of traditional expertise and modern adaptation can drive growth in the competitive landscape of insurance.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

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Paresh Patel

CEO of HCI Group

Field of Expertise

Finance & Banking - Insurance

Sector of Economy

Financial Services

CEO of HCI Group for

18 years 3 months (Jan 2007 - Present)

Previous Experience

Unknown

Rivals

Competitors/colleagues of Paresh Patel

P

Mac Armstrong

CEO of Palomar Holdings, Inc.

2023 Compensation

Stock

$125.00K

Salary

$400.00K

Bonus

$150.00K

Other

$50.00K

Total Holdings

$61.77M

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Michael P. Kehoe

CEO of Kinsale Capital Group

2023 Compensation

Stock

$1.80M

Salary

$900.00K

Bonus

$2.50M

Other

$23.10K

Total Holdings

$400.72M

Holdings

See how much did Paresh Patel make over time.

Paresh Patel's insider trading history shows fluctuating holdings, particularly between 2019 and 2024. He reported substantial trading values, starting from approximately $6.43 million in September 2019, with significant increases over the years. By November 2021, his trades peaked at $15.34...

Paresh Patel's insider trading history shows fluctuating holdings, particularly between 2019 and 2024. He reported substantial trading values, starting from approximately $6.43 million in September 2019, with significant increases over the years. By November 2021, his trades peaked at $15.34 million. These holdings reflect a growing confidence in the company’s direction. In mid-2024, reports show him trading over $37 million, showcasing his active role and potential strategic buy-ins as HCI adapts to market demands and evolves as a tech-centric insurance provider. Over the years, Patel has consistently engaged with the stock, affirming his belief in long-term value creation within HCI Group. The sustained increase suggests a focused belief in the company's strategic ambitions and market positioning.

Mar 18, 2025

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shares

HCI @ $136.50

Insider Trading

See recent insider trades of Paresh Patel.

HCI

200,000 shares

HCI

Apr 17, 2024

Received

HCI

$55.50K

HCI at $111.00/share

Apr 11, 2024

Purchase

HCI

$114.90K

HCI at $114.90/share

Apr 9, 2024

Purchase

HCI

$51.08K

HCI at $51.08/share

Aug 23, 2022

Purchase

HCI

$103.80K

HCI at $69.20/share

Apr 5, 2022

Purchase

HCI

20,000 shares

HCI

Feb 26, 2021

Received

HCI

40,000 shares

HCI

Jan 16, 2020

Received

HCI

$288.39K

HCI at $41.20/share

Mar 13, 2019

Purchase

HCI

40,000 shares

HCI

Jan 15, 2019

Received

HCI

$52.91K

HCI at $52.91/share

Nov 26, 2018

Purchase

Compensation History

See how much did Paresh Patel make over time.

In 2023, Paresh Patel's total compensation from HCI Group was $3.66 million, with a salary of $950,000, showing a steady foundation in his earnings. Unlike prior years where bonuses could range significantly based on performance, this year he received an $800,000 bonus tied to specific earnings targets. The bonus plan indicates that if the company's earnings exceed $35 million, Patel could receive up to $2.4 million in future payouts, adding a significant incentive for performance. He also has stocks vested this year worth about $933,397, which adds to his overall wealth tied to the success of HCI. This structure demonstrates that while he has a solid salary, the majority of his income is incentivized by HCI's performance, aligning his interests with those of shareholders. This approach promotes a results-driven environment, resonating through his leadership tactics.

Year

2023

Total Compensation

$2.72M

Salary

$950.00K

Board Justification

The compensation program is designed to align the interests of executives with those of shareholders through a balanced mix of cash and long-term equity-based incentives, with a focus on performance.

Bonus

$800.00K

Board Justification

The bonus was awarded based on earnings before income taxes on a consolidated basis, with a threshold of $35 million for 2023 earnings, resulting in a maximum cash bonus of $2.4 million, awarded in three equal installments starting April 1, 2024.

Other

$37.85K

Board Justification

Other compensation includes cash dividends on unvested restricted stock and contributions to the 401(k) Plan.

Restricted Stock

$933.40K(71.55K common stock)

Board Justification

Mr. Patel's vested stock consists of 20,000 shares from HCI and 51,553 shares from TypTap Insurance Group, which vested in 2023.

Performance Metrics

The performance metrics include earnings before income taxes and total shareholder return.