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    Karol Chmiel • B. Riley Securities

    Karol Chmiel's questions to Heritage Insurance Holdings Inc (HRTG) leadership

    Karol Chmiel's questions to Heritage Insurance Holdings Inc (HRTG) leadership • Q2 2025

    Question

    Karol Chmiel from Citizens Capital Markets and Advisory asked for a comparison of the current quarter's catastrophe and weather losses to previous years and sought details on the favorable prior period reserve development.

    Answer

    CFO Kirk Lusk attributed the year-over-year decrease in non-catastrophe weather losses to a better-underwritten portfolio with newer roofs, which is less susceptible to severe convective storms. Regarding reserve development, Lusk confirmed that the current favorable trend is partly a reflection of the reserve strengthening actions taken in the prior year and that the company is pleased with the current positive development.

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    Karol Chmiel's questions to Heritage Insurance Holdings Inc (HRTG) leadership • Q1 2025

    Question

    Karol Chmiel asked for a better understanding of the market dynamics in Florida and other states, questioning why premiums were down while policies-in-force (PIVs) were also decreasing and total insured value (TIV) was flat.

    Answer

    CFO Kirk Lusk explained that the premium trend reflects less substantial rate increases compared to the past. He also noted some competitive pressure in the commercial markets. Lusk reiterated that as the company continues to reopen territories that were previously closed, they anticipate growth will accelerate in the second half of the year.

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    Karol Chmiel's questions to Heritage Insurance Holdings Inc (HRTG) leadership • Q4 2024

    Question

    Karol Chmiel of B. Riley Securities inquired about the profile of the California wildfire claims, asking for a breakdown between total loss and smoke damage, and the distribution across the Eaton and Palisades fires. He also requested more detail on the prior period development for the quarter.

    Answer

    CEO Ernesto Garateix stated that there were 15 total loss claims and approximately 20 smoke damage claims, with most originating from the Palisades fire. Executive Kirk Lusk explained that the prior period development was primarily driven by the final stages of winding down claims related to Hurricane Irma.

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