CLEARWATER, Fla., July 19, 2016 /PRNewswire/ -- Heritage Insurance
Holdings, Inc. (NYSE: HRTG) ("Heritage" or the "Company"), a
property and casualty insurance holding company, announced today
that its subsidiary, Heritage Property & Casualty Insurance
Company (Heritage P&C) has written its first homeowners
insurance policy in South
Carolina.
Bruce Lucas, Chairman and CEO
stated that, "Our strategic diversification initiatives continue as
planned as we launch coverage in our fourth state. The team is
excited to work with agents in South
Carolina to bring a comprehensive insurance solution to
policyholders."
Heritage P&C is actively writing policies in Florida, North
Carolina and South
Carolina, and Zephyr Insurance is the market leader for
wind-only policies in Hawaii.
Applications have also been approved in both Alabama and Mississippi. The Company intends to continue
to expand into new states where opportunities exist.
About Heritage
Heritage Insurance Holdings, Inc. is a property and casualty
insurance holding company headquartered in Clearwater, Florida. Its subsidiaries,
Heritage Property & Casualty Insurance Company and Zephyr
Insurance Company, write over $600
million and $60 million,
respectively, of personal and commercial residential premium
through a large network of experienced agents. The Company is
currently writing property and casualty insurance policies in
Florida, Hawaii, North
Carolina and South
Carolina. Heritage Insurance Holdings, Inc. is led by a
seasoned senior management team with an average of 30 years of
insurance industry experience.
Forward-Looking Statements
Statements in this press release that are not historical facts
are forward-looking statements that are subject to certain risks
and uncertainties that could cause actual events and results to
differ materially from those discussed herein. Without limiting the
generality of the foregoing, words such as "may," "will," "expect,"
"believe," "anticipate," "intend," "could," "would," "estimate,"
"or "continue" or the other negative variations thereof or
comparable terminology are intended to identify forward-looking
statements. The risks and uncertainties that could cause our actual
results to differ from those expressed or implied herein include,
without limitation: the success of the Company's marketing
initiatives; inflation and other changes in economic conditions
(including changes in interest rates and financial markets); the
impact of new federal and state regulations that affect the
property and casualty insurance market; the costs of reinsurance
and the collectability of reinsurance; assessments charged by
various governmental agencies; pricing competition and other
initiatives by competitors; our ability to obtain regulatory
approval for requested rate changes, and the timing thereof;
legislative and regulatory developments; the outcome of litigation
pending against us, including the terms of any settlements; risks
related to the nature of our business; dependence on investment
income and the composition of our investment portfolio; the
adequacy of our liability for losses and loss adjustment expense;
our ability to build and maintain relationships with insurance
agents; claims experience; ratings by industry services;
catastrophe losses; reliance on key personnel; weather conditions
(including the severity and frequency of storms, hurricanes,
tornadoes and hail); changes in loss trends; acts of war and
terrorist activities; court decisions and trends in litigation; and
other matters described from time to time by us in our filings with
the Securities and Exchange Commission, including, but not limited
to, the Company's Annual Report on Form 10-K for the year ended
December 31, 2015 filed with the
Securities and Exchange Commission on March
8, 2016. The Company undertakes no obligations to update,
change or revise any forward-looking statement, whether as a result
of new information, additional or subsequent developments or
otherwise.
Heritage Insurance Holdings Inc.
Investor
Contact:
Melanie Skijus
727-362-7262
investors@heritagepci.com
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SOURCE Heritage Insurance Holdings, Inc.