HCI Group, Inc. HCI reported third-quarter 2020 operating loss per share of $1.42 per share, wider than the Zacks Consensus Estimate of a loss of $1.17. Also, the bottom line compared unfavorable with the year-ago earnings of 67 cents per share. Though premiums improved, lower investment income and higher expenses offset the upside.HCI Group, Inc. Price, Consensus and EPS Surprise HCI Group, Inc. price-consensus-eps-surprise-chart | HCI Group, Inc. QuoteBehind the HeadlinesGross premiums written increased 19.6% year over year to $116.5 million, driven by growth of Homeowners Choice as well as the continued growth of TypTap Insurance Company.In-force premiums for TypTap as of Sep 30, 2020 were $87.1 million, up from $40.1 million as of Sep 30, 2019.Operating revenues of $104 million nearly doubled year over year. Higher net premiums earned and policy fee income resulted in the upside. The top line beat the Zacks Consensus Estimate by 2.6%Net investment income dropped 50% year over year to $1.8 million, attributable to lower interest income from fixed-maturity securities and cash equivalent instruments.Total expense of $82.5 million increased 57.8% year over year due to higher losses and loss adjustment expenses, policy acquisition and other underwriting expenses, general and administrative personnel expenses and other operating expense.Losses and loss adjustment expenses increased attributable to increase in gross premiums earned and loss reserves for Hurricane Sally, offset by lower adverse development. Policy acquisition and other underwriting expenses increased attributable to growth in gross premiums earned.Financial UpdateHCI Group exited the third quarter with total investments of $238.7 million, down 30.1% from 2019 end. Cash and cash equivalents totaled $410.7 million, up 79.2% from 2019 end.Long-term debt of $155.7 million was down 49% from 2019 end. Debt-to-capital was 45% at quarter end, improving from 48% at 2019 end. HCI Group exited the third quarter with total shareholders’ equity of $199.7 billion, up 7.6% from 2019 end.Book value per share increased to $25.63, up from $23.90 at 2019 end.Zacks RankHCI Group currently has a Zacks Rank #5 (Strong Sell).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Performance of Other P&C InsurersAmong other players from the insurance industry, which have already reported third-quarter earnings, The Travelers Companies TRV, RLI Corp. RLI and The Progressive Corporation PGR outpaced the respective Zacks Consensus Estimate.Biggest Tech Breakthrough in a GenerationBe among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.See 8 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Travelers Companies, Inc. (TRV): Free Stock Analysis Report RLI Corp. (RLI): Free Stock Analysis Report The Progressive Corporation (PGR): Free Stock Analysis Report HCI Group, Inc. (HCI): Free Stock Analysis Report To read this article on Zacks.com click here.