Heritage Q3 net loss narrows to $7.4M from $48.2M YoY; combined ratio improves 22.5 pts

Heritage Insurance Holdings, Inc.

2023-Q3 EPS reported $0.55 revenue$548,532,000

Net loss of $7.4M ($0.28 diluted EPS) vs $48.2M ($1.83) in Q3 2022; improved on higher net premiums earned and lower losses.
Gross premiums earned $337.0M, up 9.4% YoY; net premiums earned $176.6M, up 10.6%.
Net combined ratio 110.8%, improved 22.5 pts from 133.3%; net loss ratio improved to 74.4% from 97.6%.
Book value per share $5.65, up 24.4% YoY; dividend remains suspended.
Average premium per policy up 25.5% YoY; Florida personal lines policies down 16% as part of exposure management.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Heritage Insurance Holdings, Inc. reported financial results for third quarter of 2023.

Period: third quarter of 2023
Result: reported results

Exact text from the filing

On November 2, 2023, Heritage Insurance Holdings, Inc. (the “Company”) issued a press release announcing financial results for its fiscal quarter ended September 30, 2023.

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Heritage Insurance Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-269440

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