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 (HRTG) delivers property and casualty insurance solutions across the southeastern U.S., with specialized expertise in catastrophe-prone markets. This news hub provides investors and industry observers with timely updates on corporate developments, financial performance, and strategic initiatives shaping this super-regional insurer.
Access official press releases and curated analysis covering HRTG's quarterly earnings, regulatory filings, leadership updates, and product expansions. Our repository tracks critical areas including reinsurance strategies, rate adequacy measures, and claims management innovations central to the company's operations in Florida and expanding markets.
Key updates include developments in coastal property coverage, loss mitigation programs, and partnerships with independent agents. Users will find essential information on capital management decisions, dividend announcements, and responses to regional weather events impacting the insurance sector.
Bookmark this page for streamlined access to Heritage Insurance's evolving story. Check regularly for verified updates on underwriting adjustments, market entry/exit decisions, and other material developments affecting HRTG's position in the property insurance landscape.
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.
Heritage Insurance Holdings (HRTG) reported a significant net loss of $30.8 million or $1.15 per diluted share for Q1 2022, compared to a net loss of $5.1 million or $0.19 in Q1 2021. The increase in losses is attributed to higher weather-related damages, with a net combined ratio of 129.5%, up from 107.7% year-over-year. Despite these challenges, premiums-in-force rose to $1.2 billion, a 4.7% increase, primarily due to rate hikes. The company is diversifying beyond Florida, with 74% of total insured value now outside the state.
Heritage Insurance Holdings (NYSE: HRTG) announced expected preliminary weather-related losses for Q1 2022, projecting $45.0 million in catastrophe losses and $18.8 million from other weather-related events. This compares to $15.4 million and $16.1 million for the same quarter in 2021, respectively. Total estimated weather losses reached $63.8 million, a significant rise from $31.4 million year-over-year. The company will release its detailed financial results on May 5, 2022, followed by a conference call on May 6, 2022.
Heritage Insurance Holdings, Inc. (NYSE: HRTG) will announce its first quarter 2022 financial results on May 5, 2022, following the market close. A conference call is scheduled for May 6, 2022, at 9:30 am ET, providing insights into the company's performance. Heritage, a super-regional property and casualty insurer, operates across multiple states with approximately $1.2 billion in gross premiums. Investors can access a live audio webcast of the earnings call on the company's website, and recordings will be available for future reference.
Heritage Insurance Holdings (HRTG) reported a fourth quarter net loss of $49.2 million, or $(1.79) per share, primarily due to a $60.5 million goodwill impairment charge. However, non-GAAP adjusted net income rose to $11.3 million, or $0.41 per diluted share, reflecting improved underwriting profitability. The net combined ratio improved to 93.2% from 108.7%, and gross premiums earned increased 10.7% year-over-year to $293.7 million. The board declared a quarterly cash dividend of $0.06 per share and approved a $25 million share repurchase program.
Heritage Insurance Holdings, Inc. (NYSE: HRTG) will announce its fourth quarter 2021 financial results after market close on March 7, 2022. A conference call to discuss these results is scheduled for March 8, 2022, at 9:30 am ET. Heritage operates as a super-regional property and casualty insurance holding company, writing approximately $1.2 billion in gross personal and commercial residential premiums across multiple states. Investors can access the live audio webcast and archived replay on the company's website.
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