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Heritage Announces Full Placement of 2026-2027 CAT XOL Reinsurance Program
Heritage Insurance Holdings, Inc. (NYSE: HRTG) ("Heritage" or the "Company"), a super-regional property and casualty insurance holding company, announced today that it has fully placed its 2026-2027 indemnity based, catastrophe excess-of-loss reinsurance program for its insurance subsidiaries, Heritage Property Casualty Insurance Company, Narragansett Bay Insurance Company, and Zephyr Insurance Company.
About this update from Heritage Insurance Holdings, Inc.
[{"type":"text","content":"TAMPA, Fla., May 28, 2026 /PRNewswire/ -- Heritage Insurance Holdings, Inc. (NYSE: HRTG) ("Heritage" or the "Company"), a super-regional property and casualty insurance holding company, announced today that it has fully placed its 2026-2027 indemnity based, catastrophe excess-of-loss reinsurance program for its insurance subsidiaries, Heritage Property Casualty Insurance Company, Narragansett Bay Insurance Company, and Zephyr Insurance Company.","length":468,"tagName":"p"},{"type":"text","content":"Ernie Garateix, CEO of Heritage, commented, "I am very pleased to announce the successful completion of our 2026-2027 catastrophe excess of loss reinsurance program which demonstrates the strong commitment that we have from our reinsurance partners. In this year's renewal, we placed over $2.2 billion of limit including two new catastrophe bonds. We placed more multi-year coverage this year and achieved substantial reinsurance cost savings while providing enhanced vertical protection for each of our insurance entities. I would like to thank our dedicated reinsurance partners who have supported our business through multiple catastrophic events over the last several years and look forward to their continued partnership as we work to prudently grow the Company."","length":782,"tagName":"p"},{"type":"text","content":"Key highlights of the 2026-2027 catastrophe reinsurance program include:","length":72,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Total consolidated cost of approximately $367.5 million, a decrease of $63.2 million from the prior year's renewal cost of approximately $430.7 million.","length":161,"tagName":"p"}]},{"val":[{"type":"text","content":"External party first event reinsurance tower exhaustion points of approximately $1.865 billion for the Southeast, $1.245 billion in the Northeast, and $1.00 billion in Hawaii. Each reinsurance tower maybe supplemented with limit purchased through affiliate Osprey Re.","length":267,"tagName":"p"}]},{"val":[{"type":"text","content":"Includes $712 million of multi-year coverage with $550 million through fully collateralized catastrophe bonds and $162 million through the private reinsurance market.","length":166,"tagName":"p"}]},{"val":[{"type":"text","content":"The loss retention for the Company remains at approximate...