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Heritage reports Q2 weather losses of $35mn

22nd July 2021 - Author: Charlie Wood

Super-regional property and casualty insurance holding company Heritage is expecting to incur net current accident catastrophe losses of around $35.5 million in the second quarter.

Heritage Insurance logoOf this amount, $11 million is represented by net current accident quarter weather losses.

Heritage also expects to incur $9.4 in additional ceded premium for the quarter, reflecting reinstatement of its severe convective storm reinsurance coverage.

The company previously reported $31.4 million of catastrophe and weather losses for the first quarter.

This figure includes approximately $15.4 million of net current accident quarter catastrophe losses.

These preliminary, unaudited financial estimates are based on information available to management as of the date of this press release, remain subject to the completion of normal quarter-end accounting procedures and adjustments, and are subject to change.

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