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.
Heritage Insurance Holdings, Inc. (NYSE: HRTG) has announced the release date for its fourth quarter and full year 2022 financial results. The earnings will be disclosed after market hours on March 2, 2023, followed by a conference call at 9:00 am ET on March 3, 2023. The Company operates as a super-regional property and casualty insurance provider, writing approximately $1.2 billion in gross premiums across multiple states. Investors can access the earnings call via a live webcast available on the Company’s investor relations website.
Heritage Insurance Holdings, Inc. (NYSE: HRTG) announced a new $10 million share repurchase plan, effective after the previous $25 million plan expired on
Heritage Insurance Holdings (NYSE: HRTG) reported a net loss of $48.2 million or $1.83 per diluted share for Q3 2022, a significant increase from a $16.4 million net loss in the prior year quarter. Gross premiums written rose 11.1% to $304.5 million, while net earned premiums fell 1.7% to $159.7 million. Major factors included weather-related losses of $63.8 million, up 24.2%, and a substantial increase in catastrophe losses due to Hurricane Ian. The net combined ratio worsened to 133.3% from 112.5%. The company has temporarily suspended dividends to shareholders amid these losses.
Heritage Insurance Holdings, Inc. (NYSE: HRTG) will announce its third quarter 2022 financial results after market close on November 8, 2022. A conference call is scheduled for 9:00 am ET on November 9, 2022, where the company will discuss its earnings. Heritage, a super-regional property and casualty insurance holding company, has a significant presence in the insurance sector, writing approximately $1.2 billion in gross personal and commercial premiums across multiple states.
Heritage Insurance Holdings, Inc. (NYSE: HRTG) announced estimated net retained losses of $40.0 million from Hurricane Ian. The total claims received so far are around 12,000. The company expects gross losses to stay within the second layer of its catastrophe excess loss program, with coverage starting at $140.0 million and extending to $960.0 million. Heritage has a reinsurance coverage limit of $1.2 billion for first events and highlights its claim handling and analytical resources to support affected policyholders.
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Heritage Insurance Holdings (NYSE: HRTG) reported a net loss of $87.9 million for Q2 2022, compared to a loss of $4.0 million last year. This significant decline was primarily due to a $90.8 million non-cash goodwill impairment charge. However, adjusted net income rose to $2.9 million, driven by an 8.0% increase in net earned premiums. Gross premiums written increased by 8.2% to $365.3 million, and the net loss ratio improved to 64.1%. Despite these improvements, the company faces challenges with a 7.3% decrease in policies-in-force, particularly in Florida.
Heritage Insurance Holdings, Inc. (HRTG) will announce its second quarter 2022 financial results on August 4, 2022, after market close. A conference call to discuss the results will take place on August 5, 2022, at 9:30 am ET. Heritage is a super-regional property and casualty insurance holding company, generating approximately $1.2 billion in gross personal and commercial residential premiums across multiple states. Investors can access the live audio webcast on the company’s website.
Heritage Insurance Holdings (HRTG) announced the details of its 2022-2023 catastrophe reinsurance program, costing approximately $359.5 million, representing 31% of its March 31, 2022 premiums-in-force. This marks an increase from the previous year's 28%. Key points include a $1.2 billion reinsurance tower for the Northeast and $1.3 billion for the Southeast, with loss retention levels set at $40 million and $30 million respectively. The company also temporarily suspended new personal residential policies in Florida effective June 3, 2022, to assess recent legislative impacts.
Heritage Insurance Holdings, Inc. (NYSE: HRTG) announced the full placement of its 2022-2023 catastrophe excess-of-loss reinsurance program for its subsidiaries. CEO Ernie Garateix expressed satisfaction with the execution and terms of the reinsurance structure, highlighting access to capital markets through the first Citrus Re cat bond issued since 2017. The company achieved a diversification strategy, with 74% of total insured value outside Florida and no exposure to Louisiana or Texas. Additionally, the program was completed without utilizing the new Reinsurance to Assist Policyholders (RAP) program.
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