Heritage ceded premium ratio rises 3.3 points on higher costs and insured values

09 November 2022

Florida carrier Heritage’s ceded premium ratio rose 3.3 points to 48.1% in Q3 driven by the higher cost of its 2022-23 catastrophe excess of loss programme, which reflected higher costs and increased total insured values.

The insurer recorded a net cat loss of $40mn in Q3 from Hurricane Ian. Including other events, total weather losses reached $63.8mn

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