Heritage Insurance Holdings Provides Estimated Q3 2023 Catastrophe Losses Were ~$40M
Portfolio Pulse from Benzinga Newsdesk
Heritage Insurance Holdings, Inc. (NYSE:HRTG) announced its estimated retained catastrophe losses for Q3 2023 were approximately $40 million. The losses were primarily due to the Maui Wildfire and Hurricane Idalia. The company expressed confidence in its ability to achieve long-term strategic and financial goals despite these losses.
October 04, 2023 | 8:24 pm
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Heritage Insurance Holdings reported significant catastrophe losses for Q3 2023, which could negatively impact its financial performance. However, the company's confidence in its long-term goals may mitigate some investor concerns.
The reported losses are significant and could negatively impact the company's financial performance in the short term. However, the company's expressed confidence in its ability to achieve its long-term goals despite these losses may help to mitigate some investor concerns.
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