PR Newswire
TAMPA, Fla., May 8, 2025 /PRNewswire/ -- Heritage Insurance Holdings, Inc. (NYSE: HRTG) ("Heritage" or the "Company"), a super-regional property and casualty insurance holding company, announced today that it has fully placed its 2025-2026 indemnity based, catastrophe excess-of-loss reinsurance program for its insurance subsidiaries, Heritage Property Casualty Insurance Company, Narragansett Bay Insurance Company, and Zephyr Insurance Company.
Ernie Garateix, CEO of Heritage, commented, "I am very pleased to announce the successful completion of our 2025-2026 catastrophe excess of loss reinsurance program which demonstrates the strong commitment that we have from our reinsurance partners. In this year's renewal, we increased the amount of limit that we purchased by approximately $285 million, while our overall cost increased by less than $8 million. The limit includes two new catastrophe bonds this year providing $200 million of limit. I would like to thank our dedicated reinsurance partners who have supported our business through multiple catastrophic events over the last several years and look forward to their continued partnership as we work to prudently grow the top line."
TAMPA, Fla., May 6, 2025 /PRNewswire/ -- Heritage Insurance Holdings, Inc. (NYSE: HRTG) ("Heritage" or the "Company"), a super-regional property and casualty insurance holding company, today reported first quarter of 2025 financial results.
First Quarter 2025 Result Highlights
Net income of $30.5 million or $0.99 per diluted share, improved from net income of $14.2 million or $0.47 per diluted share in the prior year quarter. First quarter 2025 included a net pre-tax impact of $31.8 million of net losses and loss adjustment expenses related to the California wildfires.Gross premiums earned of $353.8 million, up 3.6% from $341.4 million in the prior year quarter.Net premiums earned of $200.0 million, up 11.5% from $179.4 million in the prior year quarter.Net loss ratio of 49.7%, an improvement of 7.2 points from 56.9% in the prior year quarter.Net expense ratio of 34.8%, an improvement of 2.3 points from 37.1% in the prior year quarter.Net combined ratio of 84.5%, an improvement of 9.5 points from 94.0% in the prior year quarter.Return on average equity of 39.3% up from 25% in the prior year quarter.
TAMPA, Fla., April 22, 2025 /PRNewswire/ -- Heritage Insurance Holdings, Inc. (NYSE: HRTG) ("Heritage" or the "Company"), a super-regional property and casualty insurance holding company, will announce its first quarter 2025 financial results after the market closes on Tuesday, May 6, 2025, followed by a 9:00 am ET conference call and webcast on Wednesday, May 7, 2025.
Conference Call Details:Participant Dial-in: 1-888-346-3095International Dial-in: 1-412-902-4258Telephone participants should ask to be joined into the Heritage Insurance Holdings First Quarter 2025 Earnings Call.
TAMPA, Fla., March 11, 2025 /PRNewswire/ -- Heritage Insurance Holdings, Inc. (NYSE: HRTG) ("Heritage" or the "Company"), a super-regional property and casualty insurance holding company, today reported fourth quarter of 2024 financial results.
Fourth Quarter 2024 Result Highlights
Net income of $20.3 million or $0.66 per diluted share, a decrease compared to net income of $30.9 million or $1.15 per diluted share in the prior year quarter. Fourth quarter of 2024 included a $57.0 million pre-tax impact related to Hurricane Milton losses and associated reinstatement premium.Gross premiums earned of $360.4 million, up 6.1% from $339.6 million in the prior year quarter.Net premiums earned of $199.3 million, up 12.1% from $177.7 million in the prior year quarter.Net loss ratio of 54.7%, an increase of 3.7 points from 51.0% in the prior year quarter, driven by catastrophic weather events as described herein.Net expense ratio of 35.0%, up 1.1 points from 33.9% in the prior year quarter.Net combined ratio of 89.7%, up 4.8 points from 84.9% in the prior year quarter.Book value per share of $9.50 at December 31, 2024, up 30.3% from year-end 2023 and up 85.2% from year-end 2022.
TAMPA, Fla., Feb. 5, 2025 /PRNewswire/ -- Heritage Insurance Holdings, Inc. (NYSE: HRTG) ("Heritage" or the "Company"), a super-regional property and casualty insurance holding company, will announce its fourth quarter and full year 2024 financial results after the market closes on Tuesday, March 11, 2025, followed by a 9:00 am ET conference call and webcast on Wednesday, March 12, 2025.
TAMPA, Fla., Jan. 29, 2025 /PRNewswire/ -- Heritage Insurance Holdings, Inc. (NYSE: HRTG) ("Heritage" or the "Company"), a super-regional property and casualty insurance holding company, today provided an update on the Company's fourth quarter 2024 financial results as well as an estimate of catastrophe loss from the Southern California wildfires expected to be incurred in the first quarter 2025.
TAMPA, Fla., Dec. 9, 2024 /PRNewswire/ -- Heritage Insurance Holdings, Inc. (NYSE: HRTG) ("Heritage" or the "Company"), a super-regional property and casualty insurance holding company, announced today that its Board of Directors authorized a new share repurchase plan of $10.0 million (the "New Share Repurchase Plan") commencing upon the December 31, 2024 expiration of the prior $10.0 million share repurchase program (the "Prior Share Repurchase Plan").
TAMPA, Fla., Nov. 6, 2024 /PRNewswire/ -- Heritage Insurance Holdings, Inc. (NYSE: HRTG) ("Heritage" or the "Company"), a super-regional property and casualty insurance holding company, today reported third quarter of 2024 financial results.
Third Quarter 2024 Result Highlights
Net income of $8.2 million or $0.27 per diluted share, improved from net loss of ($7.4) million or ($0.28) per diluted share in the prior year quarterGross premiums earned of $354.2 million, up 5.1% from $337.0 million in the prior year quarterNet premiums earned of $198.8 million, up 12.6% from $176.6 million in the prior year quarterNet loss ratio of 65.4%, an improvement of 9.0 points from 74.4% in the prior year quarterNet expense ratio of 35.2%, down 1.2 points from 36.4% in the prior year quarterNet combined ratio of 100.6%, an improvement of 10.2 points from 110.8% in the prior year quarter
TAMPA, Fla., Oct. 22, 2024 /PRNewswire/ -- Heritage Insurance Holdings, Inc. (NYSE: HRTG) ("Heritage" or the "Company"), a super-regional property and casualty insurance holding company, today announced estimated losses for Hurricanes Debby, Helene, and Milton.
Ernie Garateix, CEO at Heritage, commented, "Our thoughts are with those impacted by the devastating hurricanes that have ravaged so many communities across the southeast. This has been a difficult storm season leaving millions with significant damage and loss. At Heritage, we are working tirelessly to support our claimants and communities to ensure they have the necessary resources to quickly rebuild. I am especially proud of our employees from across our company who have been providing a rapid response to our claimants as well as the thousands of adjustors that we have in the field who are supporting our customers daily."
TAMPA, Fla., July 18, 2024 /PRNewswire/ -- Heritage Insurance Holdings, Inc. (NYSE: HRTG) ("Heritage" or the "Company"), a super-regional property and casualty insurance holding company, will announce second quarter 2024 financial results after the market closes on Tuesday, August 6, 2024, followed by a 9:00 am ET conference call and webcast on Wednesday, August 7, 2024.
Conference Call Details:
TAMPA, Fla., July 16, 2024 /PRNewswire/ -- Heritage Insurance Holdings Inc. (NYSE: HRTG) ("Heritage" or the "Company"), a super-regional property and casualty insurance holding company, today announced its inclusion in the Russell 3000® Index, as confirmed by the reconstitution information posted on the FTSE Russell website. The inclusion into the index took effect at the opening of the U.S. equity markets on Monday July 1, 2024.
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