Heritage Insurance jumps on Q4 profit beat

Heritage Insurance Holdings

12/03/2024 10:05

** Shares of property and casualty insurer Heritage
Insurance  HRTG.N  rise 22.1% to $8.73 premarket
    ** After market close on Monday, HRTG posted Q4 profit of
$1.15/shr vs analysts' expectation of 46 cents/shr - LSEG data
    ** Q4 net premiums earned rose 6.9% to $177.70 mln, driven
by growth in commercial residential business
    ** Q4 net investment income jumped 36.1% to $6.70 mln due to
higher interest rates
    ** Q4 combined ratio - a key measure of underwriting
performance - improved to 84.9% from 96.1% in the prior-year
quarter
    ** As of last close, stock up 9.7% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))