Heritage Q2 net income surges 143% to $18.9M; combined ratio improves to 92.5%

Heritage Insurance Holdings, Inc.

2024-Q2 EPS reported $1.08 revenue$394,873,000

Net income $18.9M ($0.61 diluted EPS) vs $7.8M ($0.30) in Q2 2023, up 142.6%.
Gross premiums earned $350.1M (+6.1% YoY); net premiums earned $190.3M (+7.6%).
Net combined ratio improved to 92.5% from 95.1%; net loss ratio down 4.6 pts to 55.7%.
Book value per share $8.32, up 32.7% YoY; premiums-in-force $1.4B, up 6.1%.
CEO plans to resume new business in Florida and Northeast; dividend suspension continues.

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