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) reported a net loss of $4.0 million in Q2 2021, equating to $0.14 per share, a significant decline from a net income of $4.1 million in Q2 2020. Despite this, gross premiums written rose by 16.3% year-over-year to $337.7 million. The book value per share decreased by 0.8% to $15.20. Weather losses increased to $35.5 million, contributing to the higher net loss ratio of 68.8%. The company declared a quarterly dividend of $0.06 per share, payable on October 6, 2021. CEO Ernie Garateix emphasized improvements in underwriting and pricing actions.
Heritage Insurance Holdings (NYSE: HRTG) will report its second quarter 2021 financial results on August 5, 2021, with a conference call scheduled for August 6, 2021, at 9:30 am ET. The company anticipates net weather losses of approximately $35.5 million for the quarter, including $24.5 million from catastrophe losses and $11.0 million from other weather-related issues. Additionally, Heritage projects an extra $9.4 million in ceded premium for reinstatement of reinsurance coverage. These financial estimates remain subject to adjustments.
Heritage Insurance Holdings, Inc. (NYSE: HRTG) announced the completion of its 2021-2022 catastrophe reinsurance program, with a total cost of approximately $312 million, representing 28% of March 31, 2021 premiums-in-force. The reinsurance plan includes a first event exhaustion point of $1.4 billion and a total limit of $2.5 billion. Key features involve prepaid reinstatement premiums totaling $640 million and significant participation from the Florida Hurricane Catastrophe Fund at 90%. CEO Ernie Garateix emphasized improved program strength and simplified structures.
Heritage Insurance Holdings reported a net loss of $5.1 million, or ($0.19) per diluted share, in Q1 2021, down from a profit of $7.6 million in the same quarter last year.
Gross premiums written increased by 19.7% to $274.2 million, driven by rate hikes, particularly in Florida.
Despite these gains, the company faced a rise in weather-related losses to $31.4 million.
Book value per share decreased by 3.9% to $15.32, reflecting a decline in stockholders' equity.
A quarterly dividend of $0.06 per share was declared.
Heritage Insurance Holdings, Inc. (NYSE: HRTG), based in Clearwater, Florida, announced an estimated total of $31.4 million in net current accident quarter weather losses for Q1 2021. This includes approximately $15.4 million from catastrophe losses and $16.1 million from other weather-related losses. These figures are preliminary and subject to change pending quarter-end accounting procedures. The company writes over $1 billion in gross personal and commercial residential premium across multiple states.
Heritage Insurance Holdings, Inc. (NYSE: HRTG) will announce its first quarter 2021 financial results after market close on May 5, 2021. A conference call is scheduled for May 6, 2021, at 9:30 am ET, where details about their financial performance will be discussed. Heritage writes over $1 billion in gross personal and commercial residential premium through its subsidiaries. A live audio webcast of the earnings call will be available on the company's website, with a replay option for later access.
Heritage Insurance Holdings (HRTG) reported its fourth quarter 2020 financial results with net income of $2.8 million ($0.10 per diluted share), down 78.1% from the previous year. Despite a 19.9% increase in gross premiums written to $282.3 million, elevated weather losses of $38.9 million impacted profitability. Book value per share is up 1.8% to $15.94. The company declared a $0.06 per share dividend to shareholders on April 6, 2021. The firm reported a net loss ratio of 70.4% and a combined ratio of 108.7%, indicating higher underwriting costs.
Heritage Insurance Holdings, Inc. (NYSE: HRTG) will announce its fourth quarter 2020 financial results after the market closes on March 3, 2021. A conference call will take place on March 4, 2021, at 9:30 am ET. The company operates as a super-regional property and casualty insurance holding company, writing over $1 billion in gross premiums across multiple states. The earnings call will be accessible via a live audio webcast and archived for later replay. Financial announcements can be found on the company’s investors page.
Heritage Insurance Holdings (NYSE: HRTG) reported anticipated fourth quarter 2020 net catastrophe losses of approximately $28.6 million and other weather losses of $12.9 million. The company also expects $4.9 million in separation costs due to executive departures. These preliminary figures are unaudited and subject to change pending completion of quarter-end accounting processes. As of December 31, 2020, adjustments may arise that could materially impact final results. Heritage, a super-regional property and casualty insurer, writes over $1 billion in premiums.
Heritage Insurance Holdings (NYSE: HRTG) announced that Arash Soleimani, Executive Vice President, will participate in the Sidoti & Company Winter 2021 Virtual Investor Conference on January 13-14, 2021. Heritage, a super-regional property and casualty insurance holding company, writes over $1 billion in gross personal and commercial residential premium across multiple states. For more financial information, visit investors.heritagepci.com.
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