Heritage Insurance Posts $8.2 Million Profit Despite Hurricane Losses
Heritage Insurance Posts $8.2 Million Profit Despite Hurricane Losses

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Heritage Insurance Holdings reported a net income of $8.2 million for the third quarter of 2024, a significant improvement compared to a net loss of $7.4 million in the same period last year. The company experienced a 5.1% increase in gross premiums earned, reaching $354.2 million, while the net loss ratio improved to 65.4%. Despite facing $48 million in losses from two hurricanes, Heritage achieved profitability through strategic initiatives focused on underwriting profit and diversified portfolios. The CEO emphasized the commitment to supporting policyholders affected by recent storms while expressing optimism for future growth opportunities.

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