Heritage

Floir has greenlit at least 14 new companies for operation in Florida in the last few years, contributing to the competition.

The carrier sees opportunities to grow in New York, the mid-Atlantic and Florida.

The Insurance Insider US news team runs you through the earnings results for the day.

The total cost for the program increased 1.8% from last year’s.

California homeowners are also expected to move admitted business to E&S.

The Insurance Insider US news team runs you through the earnings results for the day.

The Insurance Insider US news team runs you through the earnings results for the day.

The Floridian also expects to report its “best earnings quarter” for Q4 2024.

Heritage’s Q3 combined ratio improved 10.2 points to 100.6% driven by lower losses and expenses.

The Insurance Insider US news team runs you through the earnings results for the day.

Shares gained after Hurricane Milton did less damage than anticipated.

Milton threatens to make landfall in Florida shortly after Helene.

CFO Lusk said the company is about 99.2% closed on claims from the 2017 storm.

The Insurance Insider US news team runs you through the earnings results for the day.

The decrease takes effect August 20, 2024, and impacts new and renewal business.

The Insurance Insider US news team runs you through the earnings results for the day.

The first event tower exhausts at $1.1bn for the Northeast, $1.3bn for the Southeast and $750mn in Hawaii.

The Insurance Insider US news team runs you through the earnings results for the day.

CFO Kirk Lusk’s base compensation went down 16%, to $800,000 from $950,000, while his annual bonus increased to 65% of base salary.

CEO Ernie Garateix, company director Paul Whiting and existing investor Raymond Hyer all agreed to purchase stock.

“That’s one of the things we're monitoring ... but I think there are positive signs in the marketplace that litigation is down,” Garateix told analysts on the company’s third-quarter earnings call.

The Inside P&C news team runs you through the earnings results for the day.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Losses from the Maui wildfire include a modest amount of reinsurance recoveries from the Per Risk reinsurance program, while losses from Hurricane Idalia were fully retained.

Executives were speaking after the company reported that its Q2 CoR decreased 4.3 points to 95.1% as Florida policies declined 15.8% from the prior year.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The Inside P&C news team runs you through the earnings results for the day.

Forecasts for “near-normal” activity may mean the chance at a reprieve for the Florida market, but a history of underestimates warrants caution.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

First event reinsurance tower exhaustion points are $1.3bn for the Northeast, $1.1bn in the Southeast and $870mn in Hawaii.

The carrier reported a Q1 2023 combined ratio of 94.5%, which improved 35 points year on year, driven by lower weather losses.

The company’s net current accident year weather losses totaled $12.8mn, down from $63.8mn in Q1 2022.

The executive has been president of investment firm Seabreeze since 1997.

The carrier currently offers excess and surplus lines products in Carolina and Florida.

Heritage’s net current accident-year catastrophe losses in the quarter went down 8% to $27.5mn from $29.8mn in Q4 2021.

The company can repurchase shares up to $10mn for the period ending December 31, 2023.