Heritage Insurance Holdings, Inc.

Heritage Insurance Holdings, Inc. announced the successful full placement of its 2026-2027 indemnity-based catastrophe excess-of-loss reinsurance program for its insurance subsidiaries. The program achieved substantial reinsurance cost savings, totaling approximately $367.5 million, which is a $63.2 million decrease from the previous year. It provides enhanced vertical protection with over $2.2 billion of limit, including $712 million in multi-year coverage, while maintaining company loss retention at approximately $50 million for Southeast/Hawaii and $38 million for the Northeast.

Heritage Insurance Holdings, Inc. reported a strong first quarter for 2026, with net income increasing by 19.7% to $36.5 million and diluted earnings per share rising to $1.19. The company saw an increase in total revenues and a notable decrease in losses and loss adjustment expenses, contributing to a significant improvement in operating income and cash flow from operations. Additionally, the company conducted a $10.0 million stock buyback during the quarter.

Heritage Insurance Holdings reported record first-quarter net income of $36.5 million, a 19.7% increase year-over-year, with diluted earnings per share rising 20.2% to $1.19. The company also announced a new $50.0 million share repurchase plan, replacing the previous authorization, while continuing the suspension of its quarterly dividend to prioritize strategic growth. Underwriting performance improved significantly, with the net loss ratio decreasing to 45.9% and the combined ratio improving to 81.0%.

Heritage Insurance Holdings, Inc. announced its Annual Meeting of Stockholders will be held on June 10, 2026, as a hybrid event. Stockholders will vote on the election of six directors, the ratification of Plante & Moran, PLLC as the independent auditor, and advisory votes on executive compensation and its frequency. The company also highlighted progress on strategic profitability initiatives, including achieving rate adequacy in over 90% of its territories by the end of 2025.