Heritage Insurance fully places 2024-2025 CAT XOL reinsurance program at $422.3M cost

Heritage Insurance Holdings, Inc.

Total consolidated cost ~$422.3M, replacing prior year's RAP program with external partners at added cost.
First-event tower exhaustion: Northeast $1.1B, Southeast $1.3B, Hawaii $750M; each can be supplemented via Osprey Re.
New $100M Southeast-only catastrophe bond via Citrus Re; existing bonds ($235M total) remain unused and available.
Retention: ~$40M for Southeast and Hawaii, ~$32M for Northeast; can be reduced by Osprey Re limit.
Florida Hurricane Catastrophe Fund participation at 90.0%, consistent with prior year; program is fully indemnity based.

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