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Friday, October 03, 2025
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Heritage Provides Estimated Impact of Hurricane Ian

Heritage Insurance Holdings, a super-regional property and casualty insurance holding company, announced today that it expects to incur $40.0 million of net retained losses associated with Hurricane Ian, inclusive of reinstatement premiums and participation by the Company’s captive reinsurer, Osprey Re. Ultimate gross losses continue to be evaluated but are expected to fall within layer 2 of the catastrophe excess of loss program which begins at $140.0 million and exhausts at $960.0 million. To date, the Company has received close to 12,000 claims associated with Hurricane Ian.

“I recently visited southwest Florida and observed some of the wind and flood damage caused by the hurricane. Our highest priority is our policyholders and all those affected by Hurricane Ian remain in our thoughts,” said Heritage CEO Ernie Garateix. “Our ultimate gross loss is expected to be contained within the second layer of our reinsurance tower and be well within our reinsurance tower, which provides up to $1.2 billion of limit for a first event. Our Heritage team includes excellent claim handling resources, robust repair and mitigation capabilities, and an experienced in-house legal team, all of which are supported by technical analytical resources to assist with the claims adjusting process.  Additionally, we have a highly rated syndicate of reinsurance partners on our reinsurance program.”

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