Heritage Insurance Earnings Beat, Approves $50M Buyback

Heritage Insurance reported third-quarter 2026 diluted earnings of $1.72 per share, beating the $0.93 analyst consensus, while revenue of $219.2 million also topped expectations. Net income rose to $51.1 million from $50.4 million a year earlier, despite $15.8 million in catastrophe losses; favorable reserve development partly offset the costs. Net premiums earned increased as ceded premiums fell, aided by improved reinsurance pricing, although gross premiums written and premiums in force declined. The results follow investor concerns about commercial-residential exposure and whether residential policy growth and underwriting improvements can sustain profitability amid a shifting Florida insurance market. Heritage also authorized a new share-repurchase program of up to $50 million, to begin after its current authorization expires.