Make us your home page

In 'placid times' two Tampa Bay insurers make Fortune's fastest-growing list

Eight Florida companies, including two Tampa Bay area insurers, made Fortune magazine's annual list of the 100 fastest-growing companies for 2015.

Tampa's HCI Group and St. Petersburg's United Insurance Holdings are ranked No. 31 and No. 45, respectively.

"Who knew how crucial Florida weather is? Another property and casualty insurer enjoys placid times, bolstered by revenues from windstorm policies," said Fortune of HCI's strong performance on the annual list. Insurance companies tend to prosper when there are few storms to prompt claims by policyholders. HCI ranked No. 2 last year.

And here's what Fortune said in a similar vein about new-to-the-list United Insurance: "Have we mentioned that sunny, calamity-free times have given a vitamin C injection to Florida insurers? Strategic expansions also contributed in this case."

Other Florida companies to make the list this year include No. 69 Lennar, the large Miami-based home builder, thanks to the comeback of the construction industry. Also, Spirit Airlines in Miramar made the list at No. 81.

Amid a swirl of recent lists of fast-growing companies, including the Inc. 500 rankings of private companies, the Fortune list is different. It looks at publicly traded companies based on the past three years of growth in revenues, profits and stock prices.

And not all companies listed are small. For the first time, Facebook made this year's list at No. 10 thanks largely to enormous revenue growth.

Last year's list was dominated by oil and shale companies, which fell off the 2015 ranking as energy prices plummeted. At No. 1 this year is Philadelphia pharmaceutical company Lannett.

In 'placid times' two Tampa Bay insurers make Fortune's fastest-growing list 08/19/15 [Last modified: Wednesday, August 19, 2015 9:01pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times


Join the discussion: Click to view comments, add yours

  1. Airbag maker Takata bankruptcy filing expected in Japan, U.S.


    DETROIT — Japanese airbag maker Takata Corp. has filed for bankruptcy protection in Tokyo and the U.S., overwhelmed by lawsuits and recall costs related to its production of faulty air bag inflators.

  2. Federal agencies demand records from SeaWorld theme park


    ORLANDO — Two federal agencies are reportedly demanding financial records from SeaWorld.

    Killer whales Ikaika and Corky participate in behaviors commonly done in the wild during SeaWorld's Killer Whale educational presentation in this photo from Jan. 9. SeaWorld has been subpoenaed by two federal agencies for comments that executives and the company made in August 2014 about the impact from the "Blackfish" documentary. 
[Nelvin C. Cepeda/San Diego Union-Tribune/TNS]
  3. Legalized medical marijuana signed into law by Rick Scott

    State Roundup

    TALLAHASSEE — Gov. Rick Scott on Friday signed into law a broader medical marijuana system for the state, following through on a promise he made earlier this month.

    Gov. Rick Scott signed legislation on Friday that legalizes medical marijuana in Florida.
  4. Line of moms welcome Once Upon A Child to Carrollwood


    CARROLLWOOD — Strollers of all shapes and sizes are lined up in front of the store, and inside, there are racks of children's clothing in every color of the rainbow.

    At Once Upon A Child, you often as many baby strollers outside as you find baby furniture and accessories. It recently opened this location in Carrollwood. Photo by Danielle Hauser
  5. Pastries N Chaat brings North India cuisine to North Tampa


    TAMPA — Pastries N Chaat, a new restaurant offering Indian street food, opened this week near the University of South Florida.

    The menu at Pastries N Chaat includes a large variety of Biriyani, an entree owners say is beloved by millions. Photo courtesy of Pastries N Chaat.