Heritage Insurance Reports Hurricanes Related Losses for Q3, Q4

MT Newswires Live

Oct 23, 2024

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

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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.\"</p><p>Heritage, which will report quarterly results on Nov. 6, maintains a \"robust level of reinsurance coverage through year-end 2024,\" Garateix added.</p><p>Price: 9.82, Change: -0.22, Percent Change: -2.19</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4107","symbol_name":"财产与意外伤害保险","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2477892371","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2477892371","pubTimestamp":1729670013,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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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","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4107":"财产与意外伤害保险","HRTG":"Heritage Insurance Holdings"},"translate_title":"Heritage Insurance报告第三季度、第四季度与飓风相关的损失","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"HRTG":1},"content_text":"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","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"}}}