Heritage

CFO Kirk Lusk’s base compensation went down 16%, to $800,000 from $950,000, while his annual bonus increased to 65% of base salary.

CEO Ernie Garateix, company director Paul Whiting and existing investor Raymond Hyer all agreed to purchase stock.

“That’s one of the things we're monitoring ... but I think there are positive signs in the marketplace that litigation is down,” Garateix told analysts on the company’s third-quarter earnings call.

The Inside P&C news team runs you through the earnings results for the day.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Losses from the Maui wildfire include a modest amount of reinsurance recoveries from the Per Risk reinsurance program, while losses from Hurricane Idalia were fully retained.

Executives were speaking after the company reported that its Q2 CoR decreased 4.3 points to 95.1% as Florida policies declined 15.8% from the prior year.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The Inside P&C news team runs you through the earnings results for the day.

Forecasts for “near-normal” activity may mean the chance at a reprieve for the Florida market, but a history of underestimates warrants caution.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

First event reinsurance tower exhaustion points are $1.3bn for the Northeast, $1.1bn in the Southeast and $870mn in Hawaii.