Heritage Insurance Q2 net loss $87.9M on $90.8M goodwill impairment; adj income $2.9M

Heritage Insurance Holdings, Inc.

2022-Q2 EPS reported -$4.46 revenue$322,378,000

Net loss of $87.9M ($3.32 diluted EPS) vs $4.0M loss year ago; includes $90.8M non-cash goodwill impairment
Adjusted net income of $2.9M ($0.11 diluted EPS) vs adjusted net loss of $4.0M; combined ratio improved 5.8 pts to 99.4%
Premiums-in-force $1.2B (+3.4%), policies-in-force down 7.3% on planned Florida reduction; TIV outside FL at 74.4%
Director Steven Martindale resigned Aug 2, 2022 citing potential conflict of interest; no dispute with company

item 2.02 item 5.02 item 9.01

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Departed

Steven Martindale

member of the Board of Directors

HRTG · Heritage Insurance Holdings, Inc.

Effective: 2022-08-02
Filed: August 5, 2022, 7:59 PM ET

On August 2, 2022, Steven Martindale, a member of the Board of Directors (the “Board”) of the Company, tendered his resignation from the Board effective as of August 2, 2022.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 1.0

Steven Martindale resigned as member of the Board of Directors at Heritage Insurance Holdings, Inc..

Action: resigned
Role: member of the Board of Directors

Exact text from the filing

On August 2, 2022, Steven Martindale, a member of the Board of Directors (the “Board”) of the Company, tendered his resignation from the Board effective as of August 2, 2022.

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Heritage Insurance Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-22-212726

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