Heritage Q1 CR improves 35 pts to 94.5% as GWP grows 10.3%

Heritage Insurance Holdings improved its combined ratio by 35 points to 94.5 percent in the first quarter because of lower catastrophe losses while gross premiums written (GPW) increased 9.6 percent to $310.3mn, as the Florida-based carrier achieved a 21.9 percent increase in average premium per policy over Q1 2022.