Heritage Proclaims Full Placement of 2025-2026 CAT XOL Reinsurance Program

TAMPA, Fla., Could 8, 2025 /PRNewswire/ — Heritage Insurance coverage Holdings, Inc. (NYSE: HRTG) (“Heritage” or the “Firm”), a super-regional property and casualty insurance coverage holding firm, introduced at this time that it has absolutely positioned its 2025-2026 indemnity primarily based, disaster excess-of-loss reinsurance program for its insurance coverage subsidiaries, Heritage Property Casualty Insurance coverage Firm, Narragansett Bay Insurance coverage Firm, and Zephyr Insurance coverage Firm.

Ernie Garateix, CEO of Heritage, commented, “I’m more than happy to announce the profitable completion of our 2025-2026 disaster extra of loss reinsurance program which demonstrates the sturdy dedication that we have now from our reinsurance companions. On this 12 months’s renewal, we elevated the quantity of restrict that we bought by roughly $285 million, whereas our general value elevated by lower than $8 million. The restrict consists of two new disaster bonds this 12 months offering $200 million of restrict. I want to thank our devoted reinsurance companions who’ve supported our enterprise by way of a number of catastrophic occasions during the last a number of years and sit up for their continued partnership as we work to prudently develop the highest line.”

Key factors of the 2025-2026 disaster reinsurance program embrace:

• Bought $2.479 billion of restrict up from $2.194 billion of restrict within the prior 12 months’s renewal.
• Whole consolidated value of roughly $430.9 million, a rise of $7.8 million from the prior 12 months’s renewal value of roughly $423.1 million.
• Exterior occasion first occasion reinsurance tower exhaustion factors of roughly $1.6 billion for the Southeast, $1.1 billion within the Northeast and $865 million in Hawaii. Every reinsurance tower could also be supplemented with restrict bought by way of affiliate Osprey Re.
• The 2025 disaster extra of loss reinsurance program consists of multi-year indemnity protection, which is absolutely collateralized, by way of disaster bonds issued by Citrus Re Ltd., a Bermuda-domiciled particular function car. Restrict for this hurricane season supplied by Citrus Re features a Southeast solely restrict of $200 million, a Hawaii solely restrict of $100 million, a Northeast solely restrict of $120 million and a $115 million mixed Northeast/Hawaii restrict.
• The loss retention for the Firm is roughly $50 million for the Southeast and Hawaii, respectively, and $39.3 million for the Northeast. The retention for every insurance coverage firm is predicted to be decreased by restrict bought by way of our affiliate captive reinsurer, Osprey Re.
• Florida Hurricane Disaster Fund participation of 90.0%, according to the prior 12 months program.
• Your complete program is indemnity primarily based, with no parametric covers.

Garateix continued, “This 12 months’s placement included a better retention which is according to our threat tolerance and powerful monetary place.”

About Heritage
Heritage Insurance coverage Holdings, Inc. is a super-regional property and casualty insurance coverage holding firm. By way of its insurance coverage subsidiaries and a big community of skilled brokers, the Firm writes roughly $1.4 billion of gross private and business residential premium throughout its multi-state footprint overlaying the northeast, southeast, Hawaii and California extra and surplus traces. As a disaster centered property insurer, our personnel have devoted efforts to policyholders impacted by wildfires, hurricanes, winter storms, and extreme convective storms.

Ahead-Wanting Statements
Statements on this press launch that aren’t historic information are forward-looking statements which can be topic to sure dangers and uncertainties that might trigger precise occasions and outcomes to vary materially from these mentioned herein. With out limiting the generality of the foregoing, phrases equivalent to “might,” “will,” “count on,” “consider,” “anticipate,” “intend,” “may,” “would,” “estimate,” “or “proceed” or the opposite unfavourable variations thereof or comparable terminology are supposed to determine forward-looking statements. This launch consists of forward-looking statements referring to our 2025-2026 disaster reinsurance program. The dangers and uncertainties that might trigger our precise outcomes to vary from these expressed or implied herein embrace, with out limitation: the success of the Firm’s underwriting and profitability initiatives; inflation and different adjustments in financial circumstances (together with adjustments in rates of interest and monetary and actual property markets), together with adjustments which will impression demand for our merchandise and our operations; lack of effectiveness of exclusions and loss limitation strategies within the insurance coverage insurance policies we assume or write; inherent uncertainty of our fashions and our reliance on such fashions as a instrument to guage threat; the impression of macroeconomic and geopolitical circumstances, together with the impression of provide chain constraints, inflationary pressures, tariffs, labor availability and geopolitical conflicts; the impression of latest federal and state laws that have an effect on the property and casualty insurance coverage market and our failure to satisfy elevated regulatory necessities, together with minimal capital and surplus necessities; continued and elevated impression of abusive and unwarranted claims; the price of reinsurance, the collectability of reinsurance and our capability to acquire reinsurance protection on phrases and at a price acceptable to us; assessments charged by numerous governmental businesses; pricing competitors and different initiatives by rivals; our capability to acquire regulatory approval for requested price adjustments, and the timing thereof; legislative and regulatory developments; the end result of litigation pending towards us, together with the phrases of any settlements; dangers associated to the character of our enterprise; dependence on funding revenue and the composition of our funding portfolio; the adequacy of our legal responsibility for losses and loss adjustment expense; our capability to construct and preserve relationships with insurance coverage brokers; claims expertise; scores by business providers; disaster losses; reliance on key personnel; climate circumstances (together with the severity and frequency of storms, hurricanes, tornadoes, wildfires and hail); adjustments in loss developments; acts of struggle and terrorist actions; court docket selections and developments in litigation; and different issues described every now and then by us in our filings with the Securities and Change Fee, together with, however not restricted to, the Firm’s Annual Report on Kind 10-Ok for the 12 months ended December 31, 2024 filed with the Securities and Change Fee on March 13, 2025, and subsequent filings. The Firm undertakes no obligations to replace, change or revise any forward-looking assertion, whether or not on account of new data, further or subsequent developments or in any other case.

Investor Contact:
Kirk Lusk
Chief Monetary Officer
buyers@heritagepci.com

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SOURCE Heritage Insurance coverage Holdings, Inc.