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Heritage Announces Preliminary Q3 2020 Catastrophe and Weather Losses Of $24.5M

CLEARWATER, Fla., Oct. 15, 2020 /PRNewswire/ -- Heritage Insurance Holdings, Inc. (NYSE:HRTG) ("Heritage" or the "Company"), a super-regional property and casualty insurance holding

· 10/15/2020 16:09

CLEARWATER, Fla., Oct. 15, 2020 /PRNewswire/ -- Heritage Insurance Holdings, Inc. (NYSE:HRTG) ("Heritage" or the "Company"), a super-regional property and casualty insurance holding company, announced today that it expects to incur approximately $24.5 million of net current accident quarter catastrophe losses in third quarter 2020, primarily from Hurricanes Isaias and Sally.

Heritage Insurance (PRNewsFoto/Heritage Insurance Holdings, Inc) (PRNewsfoto/Heritage Insurance Holdings, In)

Additionally, the Company expects to incur approximately $22.8 million of net current accident quarter non-catastrophe weather losses in third quarter 2020, up from $11.9 million in the prior year quarter, primarily reflecting wind and hail events in Florida.

Financial information, including material announcements about Heritage, is routinely posted on investors.heritagepci.com. 

About Heritage

Heritage Insurance Holdings, Inc. is a super-regional property and casualty insurance holding company. Through its insurance subsidiaries and a large network of experienced agents, the Company writes approximately $1 billion of gross personal and commercial residential premium across its multi-state footprint.

Forward-Looking Statements

Statements in this press release that are not historical facts are forward-looking statements that are subject to certain risks and uncertainties that could cause actual events and results to differ materially from those discussed herein.  Without limiting the generality of the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "intend," "could," "would," "estimate," "or "continue" or the other negative variations thereof or comparable terminology are intended to identify forward-looking statements.  The risks and uncertainties that could cause our actual results to differ from those expressed or implied herein include, the matters described from time to time by us in our filings with the Securities and Exchange Commission, including, but not limited to, the Company's Annual Report on Form 10-K for the year ended December 31, 2019 filed with the Securities and Exchange Commission on March 10, 2020.  The Company undertakes no obligations to update, change or revise any forward-looking statement, whether as a result of new information, additional or subsequent developments or otherwise.

Investor Contact:

Arash Soleimani, CFA, CPA

Executive Vice President

727.871.0206

asoleimani@heritagepci.com

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SOURCE Heritage Insurance Holdings, Inc.