Heritage Insurance Holdings (HRTG) said late Tuesday that the company expects to incur about $48 million of net current accident quarter catastrophe losses in Q3, stemming from hurricanes Debbie and Helene.
The company expects to incur about $57 million of losses from Hurricane Milton in Q4.
The company "is in a strong position and backed by $1.3 billion reinsurance tower," Chief Executive Ernie Garateix said in a statement. He expects the Milton gross losses to possibly reach the "third layer of our reinsurance tower which starts at $450 million and goes to $914 million."
Heritage, which will report quarterly results on Nov. 6, maintains a "robust level of reinsurance coverage through year-end 2024," Garateix added.
Price: 9.82, Change: -0.22, Percent Change: -2.19
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。