Heritage Insurance Holdings Inc (N:HRTG)
Business Focus: Property & Casualty Insurance
| Sector: Financials | Industry: Property & Casualty Insurance |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 1401 N Westshore Blvd TAMPA FL 33607 |
| Tel: | N/A |
| Website: | https://www.heritagepci.com |
| IR: | See website |
| Key People | ||
| Ernie Garateix Chief Executive Officer, Director | Kirk H. Lusk Chief Financial Officer | Tim Johns President of Zephyr Insurance Company |
| Tim Moura President of Narragansett Bay Insurance Company | Sharon Binnun Chief Accounting Officer | |
| Business Overview |
| Heritage Insurance Holdings, Inc. is a property and casualty insurance holding company. The Company primarily provides personal and commercial residential insurance through its insurance company subsidiaries. It is vertically integrated and controls or manages substantially all aspects of insurance underwriting, customer service, actuarial analysis, distribution and claims processing and adjusting. Its subsidiaries include Heritage Property & Casualty Insurance Company (Heritage P&C), which provides personal and commercial residential property insurance and commercial general liability insurance; Narragansett Bay Insurance Company (NBIC), which provides personal and commercial residential property insurance, and Zephyr Insurance Company (Zephyr), which provides personal residential and wind-only property insurance in Hawaii. The Company provides personal residential insurance in approximately 14 eastern and gulf states and commercial residential insurance in three of those states. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Heritage Insurance Holdings Inc revenues increased 11% to $735.5M. Net income totaled $45.3M vs. loss of $154.4M. Revenues reflect Investment Income increase of 98% to $27.8M, Investment expenses increase of 2% to -$2M. Net Income reflects Goodwill or intangible asset impairment decrease of 99% to $767K (expense), Int exp on Financial Lease Liabilities decrease of 9% to $890K (expense). |
| Employees: | 566 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | N/A |
| Annual revenue (TTM): | $735.50M as of Dec 31, 2023 |
| EBITDA (TTM): | $75.21M as of Dec 31, 2023 |
| Net annual income (TTM): | $45.31M as of Dec 31, 2023 |
| Free cash flow (TTM): | $60.51M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | N/A |
| Shares outstanding: | 30,218,938 as of Mar 4, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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