HCI Group, Inc.

on the investor information section of HCI Group's website at www.hcigroup.com. I would now like to turn the call over to Bill Broomall, Investor Relations. Bill, please proceed.

Thank you, and good afternoon. Welcome to HCI Group's first quarter 2025 earnings call. To access today's webcast, please visit the investor information section of our corporate website at www.hcigroup.com. Before we begin, I would like to take the opportunity to remind our listeners that that today's presentation and responses to questions may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as anticipate, estimate, expect, intend, plan and project, and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions, but rather are subject to various risks and uncertainty. Some of these risks and uncertainties are identified in the company's filings with the Securities and Exchange Commission. Should any risks or uncertainties develop into actual events, these developments could have a material adverse effect on the company's business, financial conditions, and results of operation. HCI Group disclaims all the obligations to update any forward-looking statements. Now with that, I would like to turn the call over to Karen Coleman, Chief Operating Officer. Karen.

Thank you, Bill, and welcome, everyone. HCI continues to demonstrate its ability to grow top-line revenue while enhancing bottom-line profitability. In the first quarter, we grew gross earned premiums by 17% over the same quarter last year. We improved the net combined ratio to 56% from 67% in the first quarter of 2024 to And we reported pre-tax net income of just over $100 million and earnings of $5.35 per share. In addition to these financial achievements, we had several other accomplishments in the quarter. Hale-Rowe Reciprocal Exchange, the second reciprocal established by HCI, commenced operations in February by assuming approximately 14,000 policies and $35 million of premium from citizens. We view tail row as an additional component of HCI's growth initiatives moving forward. During the quarter, HCI announced its plans to redeem its 4.75% convertible senior notes. We expect the notes will be fully converted in June of this year. This will reduce the debt on our balance sheet by approximately $172 million. In the first quarter, Greenleaf, our real estate division, successfully entered into a new multi-year lease agreement with GEICO for an office campus consisting of 190,000 square feet. As a result, we believe the total off-balance sheet gain in our real estate portfolio is now approximately $85 million, which is not reflected in our reported book value. Lastly, we've made substantial progress on the separation of Exeo from HCI Group. We will be speaking more about it later on this call. We're off to a really good start in 2025. Now I'll turn it over to Mark to provide more details on the financial results.