Heritage reports $31.4m of Q1 catastrophe & weather losses

Heritage reports $31.4m of Q1 catastrophe & weather losses

Heritage Insurance Holdings, Inc., the Florida headquartered and nationally expansive U.S. home casualty insurance company, has pre-announced that it will report $31.4 million of catastrophe and serious weather losses for the first-quarter of 2021. Heritages disaster and weather loss burden is constantly reported net, so after taking into account any quota share or other reinsurance plans.
Apparently, Heritage hasnt been struck particularly hard by the freezing weather condition occasion in the United States in February, with its losses can be found in around the typical sort of level the company tends to report for any more active quarter of the year
Heritage breaks down its Q1 2021 losses as, $15.4 million of net present accident quarter disaster losses, along with $16.1 million of net present mishap quarter other weather losses.
Overall, the company says that its Q1 2021 net weather condition losses are approximately $31.4 million.
Throughout Q4 of in 2015, it was revealed by the company that Bruce Lucas, the co-founder, Chairman and CEO of Heritage Insurance Holdings, Inc., was retiring from the role which COO Ernie Garateix had actually been promoted to take control of the Chief Executive Officer position.
In Q4 2020 the business reported $41.5 countless catastrophe and serious weather condition losses, compared to $47.3 million of net catastrophe and serious weather condition losses for Q3 and $26.8 million for the second-quarter of last year.

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