Heritage ceded losses reach $62mn in Q2, as insurer slows growth
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Heritage ceded losses reach $62mn in Q2, as insurer slows growth

Ernie Garateix Heritage logo clearwater florida.jpg

Floridian insurer Heritage disclosed that losses ceded to reinsurers reached $62.0mn in the quarter, up from $60.4mn a year earlier, after reinstatement premiums for its convective storm coverage depressed its result.

The carrier had posted a $4mn loss for the quarter on higher weather losses.

On the company’s earnings call, it noted the losses related mostly to one major storm, versus a string of smaller events a year ago.


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