HRTGNYSEFire, Marine & Casualty InsuranceUS GAAP · USD

Heritage Insurance Holdings, Inc.

Heritage Insurance Holdings, Inc. is a super-regional property and casualty insurance holding company focused on personal and commercial residential coverage. It underwrites, prices, and services policies across a multi-state footprint, with a vertically integrated operating model that keeps underwriting, claims handling, actuarial, and distribution functions largely in-house.

Kysy yhtiöstä
Liikevaihto847milj. USD
+3,7 %v/v
Liikevoitto (EBIT)267milj. USD
+185,4 %v/v
EBIT-marginaali31,5%
+20,1 %-yks.v/v
Nettotulos196milj. USD
+217,8 %v/v
Vapaa kassavirta174milj. USD
+120,8 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−25002505007501 000milj. USD2020: 593 milj. USD2020: EBIT 10 milj. USD20202021: 632 milj. USD2021: EBIT −68 milj. USD20212022: 662 milj. USD2022: EBIT −157 milj. USD20222023: 735 milj. USD2023: EBIT 63 milj. USD20232024: 817 milj. USD2024: EBIT 94 milj. USD20242025: 847 milj. USD2025: EBIT 267 milj. USD2025847267
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Personal residential insurance70 %

Homeowners and related personal property coverage written across Heritage's multi-state footprint.

Commercial residential insurance20 %

Residential-focused commercial policies written in selected states, mainly Florida, New Jersey, and New York.

Fee income and other revenue5 %

Policy fees, pay-plan fees, and other ancillary income tied to policy administration.

Net investment income5 %

Income from fixed maturity securities, short-term securities, and other investments.

Asiakkaat

Heritage sells primarily to homeowners and property owners who need residential coverage in states with elevated catastrophe and regulatory complexity. It also serves commercial residential customers, such as property owners and managers, who need insurance for residential rental or condominium-type exposures. Demand is driven by availability of coverage, pricing, financial strength, and the ability to write policies in specific admitted or non-admitted markets.

Personal residential policyholders

Homeowners buying personal residential insurance for primary and secondary residences across Heritage's state footprint.

Commercial residential property owners

Owners and managers of residential rental or similar properties buying commercial residential coverage, especially in Florida, New Jersey, and New York.

Florida homeowners

A strategically important customer base where Heritage manages exposure carefully and uses both admitted and non-admitted structures.

Policyholders in new or reopened territories

Customers in geographies Heritage is selectively reopening as rate adequacy improves and growth is reintroduced.

Strategia

Heritage is focused on underwriting profitability rather than pure premium growth, using rate adequacy, selective underwriting, and capital allocation to higher-return geographies and products. In 2025 it is reopening profitable territories, improving customer service and claims capabilities, and using data-driven analytics to manage exposure more precisely. The strategy is designed to rebuild growth only where pricing and risk-adjusted returns support it.

Re-open profitable geographiesLyhyt aikaväli

Growth is being reintroduced only where pricing and risk controls support acceptable returns.

Maintain underwriting disciplineLyhyt aikaväli

Rate adequacy and selective underwriting are central to sustaining profitability in a competitive market.

Strengthen operating capabilitiesKeskipitkä aikaväli

Better claims handling and customer service can improve retention, loss outcomes, and competitiveness.

Maantiede

Heritage operates across a broad U.S. footprint, with personal residential insurance in 16 states and commercial residential insurance concentrated in Florida, New Jersey, and New York. Florida is especially important because it is both a major market and a key exposure-management focus, while California is written on a non-admitted basis. Geography matters because catastrophe risk, regulatory approval, and competitive intensity vary materially by state, affecting growth, pricing, and capital allocation.

Riskit

Heritage's results are highly sensitive to catastrophe losses, reserve adequacy, and the ability to price risk accurately in volatile residential markets. The company also faces intense competition, regulatory delays on rate filings, and operational dependence on technology and reinsurance, all of which can affect growth and earnings. Because much of the business is concentrated in catastrophe-prone states, adverse weather, inflation, and litigation trends can quickly pressure margins and capital.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Catastrophe loss severity and frequency1Reserve inadequacy2Pricing and rate adequacy risk3Competitive pressure4Technology and systems disruption5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Catastrophe loss severity and frequencyVaikutus: KriittinenTodennäköisyys: Korkea

    The company writes property business in hurricane-exposed states and relies on reinsurance to cap losses.

    Kohdistuu: Florida and other catastrophe-prone markets

  2. Reserve inadequacyVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Loss and loss adjustment expense reserves are estimates and can be wrong if claims develop worse than expected.

  3. Pricing and rate adequacy riskVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Underwriting profitability depends on timely rate increases and accurate loss trend assumptions.

  4. Competitive pressureVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    The residential insurance market is cyclical and crowded, which can limit growth and compress margins.

  5. Technology and systems disruptionVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Policy administration, claims handling, and actuarial modeling depend on uninterrupted IT systems.

Kirjanpito

Harkinnanvaraiset erät
Premium earning pattern

Direct and assumed premiums are recognized daily over the contract period, so written premium and earned revenue differ materially.

Vaikutus: Affects quarterly revenue comparability and seasonality

Loss and loss adjustment expense reserves

Reserves are judgmental estimates that can move materially with claim emergence, inflation, and catastrophe activity.

Vaikutus: Can drive reserve development and earnings volatility

Reinsurance accounting

Prepaid reinsurance premiums and recoverables are amortized and estimated over the treaty term.

Vaikutus: Affects net premiums earned and balance sheet assets

Other revenue recognition

Policy fees and pay-plan fees are recognized when collected, creating ancillary revenue timing differences.

Vaikutus: Adds smaller but recurring fee income

Samankaltaisia listattuja yhtiöitä

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

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Päivitetty: 24.9.2026