FedNat Holding Company (Nasdaq: FNHC) reported a net loss of $20.7 million for Q3 2020, in contrast to a net income of $4.7 million in Q3 2019. The adjusted operating loss was $21.5 million, with significant catastrophe claims amounting to $44.9 million from recent hurricanes. Despite a 13.2% increase in gross written premiums, net premiums earned declined due to higher ceded premiums. The company's combined ratio rose to 154.3%. Book value per share fell to $14.69, down 14.8% from the previous year. Liquidity remains strong at $63 million.
FedNat Holding Company (Nasdaq: FNHC) will release its 2020 third quarter financial results on November 4, 2020, at 4:00 PM ET. An investor conference call is scheduled for the same day at 5:00 PM ET. The call will be accessible via a live webcast on the FedNat website, allowing investors to follow up with a Q&A session. FedNat operates in the homeowners insurance market across several states, including Florida and Texas, via its subsidiaries.
FedNat Holding Company (Nasdaq: FNHC) has appointed Patrick S. McCahill as Chief Operating Officer, a newly-created position aimed at enhancing operational efficiency. McCahill, with a robust background in insurance, previously served as President of American Platinum Property and Casualty Insurance Company. CEO Michael H. Braun highlighted the strategic need for McCahill's expertise to drive profitable growth in homeowners markets beyond Florida. FedNat focuses on providing homeowners insurance across several states, including Florida, Texas, and Louisiana.
FedNat Holding Company (Nasdaq: FNHC) announced a quarterly dividend of $0.09 per share, payable on September 1, 2020, to stockholders of record by August 14, 2020. The company, a regional insurance holding firm, focuses on homeowners insurance across several states, including Florida and Texas. It controls the entire insurance process through its subsidiaries, ensuring effective underwriting and claims management.
FedNat Holding Company (Nasdaq: FNHC) is scheduled to release its 2020 second quarter financial results on August 5, 2020, after 4:00 PM (ET). An investor conference call will follow on August 6, 2020, at 9:00 AM (ET). Interested parties can access a live webcast on the company's investor relations website. FedNat specializes in homeowners insurance across several states including Florida and Texas, operating through subsidiaries like FedNat Insurance Company and Maison Insurance Company.
FedNat Holding Company (Nasdaq: FNHC) reported Q1 2020 results showing a net income of $2.1 million, compared to a net loss of $3.9 million in Q1 2019. Adjusted operating income improved to $4.3 million, up from a loss of $2.4 million. Gross written premiums rose by 30.8% to $173 million, with significant contributions from non-Florida markets. However, Florida in-force policies decreased by 1.6%. The company repurchased $6.8 million worth of stock, finishing the quarter with over $123 million in cash. A call to discuss results is scheduled for May 6, 2020.
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