Heritage Provides Update on Fourth Quarter 2024 Financial Results and Estimated First Quarter 2025 Catastrophe Losses

Core Viewpoint - Heritage Insurance Holdings, Inc. is expected to report strong financial results for the fourth quarter of 2024, driven by lower non-catastrophe losses and significant claims settlements from Hurricane Milton [2][3]. Financial Performance - The company anticipates its best earnings quarter of the year in Q4 2024, surpassing the $18.9 million after-tax net income from Q2 2024 [2]. - An estimated $57.0 million impact from Hurricane Milton is included in the Q4 results, comprising retained catastrophe losses of $40.0 million and a net reinstatement premium of $17.0 million [2]. - As of January 21, 2025, the company has settled over 9,000 hurricane claims from 2024, paying out more than $140 million, with approximately 90% of claims closed [2]. Catastrophe Losses - For Q1 2025, the company expects pre-tax net current accident quarter catastrophe losses of approximately $35.0 - $40.0 million due to the Southern California wildfires [3]. - The company is actively participating in insurance villages in California to assist affected policyholders [3]. Company Overview - Heritage Insurance Holdings, Inc. is a super-regional property and casualty insurance holding company, writing approximately $1.4 billion in gross personal and commercial residential premiums across multiple states [4].