Heritage Insurance Holdings, Inc., announced that its wholly-owned subsidiary, Heritage Property & Casualty Insurance Company, assumed over 2,000 commercial residential policies on October 14, 2014 from Citizens Insurance. The assumed policies represent over $80 million in gross written premium.
The Commercial Division is led by an experienced management team, including Randy Jones, president, and Arlene Luis, executive vice president.
Heritage purchases hurricane reinsurance on a multi-year basis and retains $1 million per structure for all other peril losses, such as fire and sinkhole.
Jones said the company has over $120 million in surplus and is debt and quota share free.
Source: Heritage Insurance Holdings, Inc.
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