Welcome to our dedicated page for Heritage Insurance Hldgs news (Ticker: HRTG), a resource for investors and traders seeking the latest updates and insights on Heritage Insurance Hldgs stock.
Heritage Insurance Holdings, Inc. (NYSE: HRTG) is a super-regional property and casualty insurance holding company that regularly issues news on its financial performance, catastrophe exposure and strategic initiatives. As a catastrophe-focused property insurer, Heritage reports on how wildfires, hurricanes, winter storms and severe convective storms affect its personal and commercial residential property portfolio across the northeast, southeast, Hawaii and California excess and surplus lines.
News for HRTG frequently includes quarterly and annual earnings releases, where the company discusses net income, premiums earned, loss ratios, expense ratios and combined ratios. These updates often explain how rate actions, underwriting discipline and exposure management have influenced underwriting results, as well as how changes in weather-related and catastrophe losses have impacted profitability.
Investors can also find announcements about strategic profitability initiatives, such as re-opening profitable geographies, maintaining rate adequacy, using data-driven analytics and enhancing customer service and claims capabilities. Heritage’s communications highlight its efforts to balance growth with risk management in catastrophe-exposed markets.
Another key category of news involves reinsurance and capital management. Heritage has announced the full placement of its catastrophe excess-of-loss reinsurance program, including multi-year indemnity coverage and catastrophe bonds, and has described the role of its affiliate captive reinsurer. The company also issues press releases about credit facility amendments, dividend decisions and share repurchase authorizations.
In addition, Heritage periodically announces investor events, such as participation in virtual investor conferences and scheduled earnings calls. These items provide context on how management communicates with the investment community. For ongoing insight into HRTG, this news feed aggregates company-issued press releases and related coverage in one place.
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Heritage Insurance Holdings, Inc. (NYSE: HRTG) is set to announce its first quarter 2023 financial results after market close on May 4, 2023, followed by a conference call on May 5, 2023, at 9:00 am ET. The company, which operates as a super-regional property and casualty insurance holding firm, reports approximately $1.3 billion in gross personal and commercial residential premium across several states. Interested participants can join the call via toll-free or international numbers. Additionally, a live audio webcast of the earnings call will be available on the investor section of their website.
Heritage Insurance Holdings, Inc. (NYSE: HRTG) has appointed Paul Whiting to its Board of Directors, effective immediately, to fill a recent vacancy. Whiting brings extensive experience from his previous roles at Sykes Enterprises and Teco Energy, along with his current position as President of Seabreeze Holdings. Heritage's Chair, Richard Widdicombe, expressed confidence in Whiting's ability to contribute positively to the company's strategic profitability initiatives aimed at enhancing long-term shareholder value. Heritage specializes in property and casualty insurance, generating approximately $1.3 billion in gross premiums across multiple states.
Heritage Insurance Holdings reported a fourth-quarter net income of $12.5 million or $0.48 per diluted share for 2022, a significant recovery from a net loss of $49.2 million or ($1.79) per diluted share in Q4 2021. Premiums in force increased by 9.6% to $1.3 billion despite a 7.2% reduction in policies. Gross premiums written rose 15.5% year-over-year to $322.1 million. However, net loss ratio increased to 62.4%, with a combined ratio of 96.1%. The company continues to focus on strategic profitability through selective underwriting and managing exposures, while temporarily suspending dividends. The impact of recent legislative changes in Florida on the insurance market is also being closely monitored.
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