Brief: Fednat Reports Third Quarter 2021 Results And Announces Major Shift In Company Strategy

Fednat Holding Co

08/11/2021 21:05

Nov 8 (Reuters) - Fednat Holding Co  FNHC.O :
    * FEDNAT REPORTS THIRD QUARTER 2021 RESULTS AND ANNOUNCES
MAJOR
SHIFT IN COMPANY STRATEGY
    * Q3 ADJUSTED OPERATING LOSS PER SHARE $1.49
    * Q3 LOSS PER SHARE $1.42
    * Q3 REVENUE FELL 31.4 PERCENT TO $66.7 MILLION
    * REFOCUS ON FLORIDA HOMEOWNERS MARKET
    * ELECTED TO COMMENCE AN ORDERLY RUNOFF OF INSURANCE
OPERATIONS OF
MAISON INSURANCE COMPANY
    * NONRENEWAL OF MAISON'S FLORIDA POLICIES IS EXPECTED TO
BEGIN IN
JUNE 2022
    * IMPACT OF SIGNIFICANT CATASTROPHE WEATHER EVENTS HAS PUT A
STRAIN ON CAPITAL POSITION

Source text for Eikon:  ID:nGNX3HSjBY 
Further company coverage:  FNHC.O 

 ((Reuters.Briefs@thomsonreuters.com;))