Brief: Heritage Announces Strategic InsurTech Partnership With Slide

Heritage Insurance Holdings

26/11/2021 19:33

Nov 26 (Reuters) - Heritage Insurance Holdings Inc  HRTG.N :
    * HERITAGE ANNOUNCES STRATEGIC INSURTECH PARTNERSHIP WITH
SLIDE
    * HERITAGE -  WILL RECEIVE ABOUT 6% EQUITY STAKE IN SLIDE
AND
WARRANTS ALLOWING IT TO PURCHASE ADDITIONAL EQUITY INTEREST AT
SLIDE'S PRE-MONEY VALUATION
    * HERITAGE INSURANCE HOLDINGS INC - AS PART OF DEAL,
HERITAGE WILL
RECEIVE PERPETUAL, ROYALTY FREE LICENSE TO CERTAIN ASPECTS OF
SLIDE'S SOFTWARE
    * HERITAGE INSURANCE HOLDINGS INC -  WILL RECEIVE PERPETUAL,
ROYALTY FREE LICENSE TO CERTAIN ASPECTS OF SLIDE'S SOFTWARE
    * HERITAGE - AS PART OF DEAL, HERITAGE WILL TRANSFER
OWNERSHIP OF
FIRST ACCESS INSURANCE GROUP, A FLORIDA-LICENSED MGA WITH
MINIMAL EARNINGS
    * HERITAGE - AS PART OF DEAL, HERITAGE WILL TRANSFER
OWNERSHIP OF
PAWTUCKET, A DORMANT P&C CARRIER LICENSED IN RHODE ISLAND
    * HERITAGE - AS PART OF DEAL, HERITAGE WILL PROVIDE ACCESS
TO
HISTORICAL CLAIMS AND UNDERWRITING DATA

Source text for Eikon:  ID:nPn8XlGRBa 
Further company coverage:  HRTG.N 

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