Heritage underwriting earnings drop 80% on ‘unprecedented’ cat losses
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Heritage underwriting earnings drop 80% on ‘unprecedented’ cat losses

Florida-based carrier Heritage grew premiums by 20% in the fourth quarter to $282mn in gross written overall, but underwriting profits fell substantially, as catastrophe and weather-related losses increased to $39mn, from $15mn in the prior-year period.

Underwriting income at the carrier totaled about $3mn for the last three months of 2020, sharply lower than the $13mn gain in 2019.

The

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