Heritage Insurance places $359.5M catastrophe reinsurance; suspends new FL policies

Heritage Insurance Holdings, Inc.

Total reinsurance cost $359.5M, 31% of premiums-in-force (up from 28% prior year).
First event retention: $40M Southeast/Hawaii, $30M Northeast; tower exhaustion up to $1.3B.
Includes $100M Citrus Re Ltd. catastrophe bond at $5.1M cost for multi-year coverage.
Suspended new personal residential policies in various Florida counties effective June 3, 2022.
Florida Hurricane Catastrophe Fund participation at 90%, unchanged from prior year.

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