Heritage Insurance Holdings

Name

Heritage Insurance Holdings

Legal name

Heritage Insurance Holdings, Inc.

Website

https://investors.heritagepci.com

Company type

Public

Founded year

2012

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Heritage Insurance Holdings is a super-regional property and casualty insurance holding company writing approximately $1.4 billion in gross premiums across the Northeast, Southeast, Hawaii, and California E&S markets through subsidiaries Heritage Property & Casualty, Narragansett Bay, and Zephyr.

Ownership category

akta.pro rank

Product category

Property and Casualty Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Direct Insurance (except Life, Health, and Medical) Carriers (52412)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Homeowners Insurance (FSAJACAA)

akta.pro secondary industry

Commercial Property Insurance (FSAJACAE)

Keywords

• Property casualty insurance
• Homeowners insurance
• Catastrophe insurance
• Commercial residential insurance
• Excess surplus lines

Headquarters

HQ city

Tampa

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Net Premiums Earned: Heritage Insurance's primary revenue stream is net premiums earned from property and casualty insurance policies. For Q1 2026, net premiums earned were $199.7 million. The company writes approximately $1.4 billion of gross personal and commercial residential premium across multiple states. Premiums are earned ratably over the policy period.
2. Net Investment Income: The company generates investment income from its investment portfolio of fixed maturities and other investments. Q1 2026 investment income was $9.9 million, up 15.1% from $8.6 million in Q1 2025. Heritage maintains a conservative portfolio with high quality investments and duration liability matched.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Heritage Insurance Holdings is a super-regional property and casualty insurance holding company that underwrites personal residential and commercial residential property coverage through three insurance subsidiaries (Heritage Property Casualty Insurance Company, Narragansett Bay Insurance Company, and Zephyr Insurance Company). The company writes approximately $1.4 billion of gross premiums across the Northeast, Southeast, Hawaii, and California excess and surplus lines, focusing on catastrophe-prone property risks including hurricanes, wildfires, winter storms, and severe convective storms.

Product overview

Heritage Insurance Holdings is a super-regional property and casualty insurance holding company offering a multi-product portfolio through its three insurance subsidiaries: Heritage Property Casualty Insurance Company, Narragansett Bay Insurance Company (NBIC), and Zephyr Insurance Company. The core product lineup includes personal lines products (Homeowners HO3, Condo Insurance HO6, Dwelling Fire DP3) and commercial residential property insurance, supplemented by specialty programs like the Artisan Contractor Program and Equipment Coverage add-ons. The company writes approximately $1.4 billion in gross premiums across the Northeast, Southeast, Hawaii, and California excess and surplus lines markets, focusing on catastrophe-prone property coverage including hurricane, wildfire, winter storm, and severe convective storm protection. Heritage operates on a catastrophe-focused property insurance model with strategic initiatives emphasizing rate adequacy, underwriting discipline, and geographic diversification.

Differentiator

Problem solved

Functional benefit

Brands

• Heritage Property & Casualty Insurance Company: Primary insurance subsidiary writing personal and commercial residential property coverage primarily in Florida.
• Narragansett Bay Insurance Company (NBIC)
• Zephyr Insurance Company

Products and services

• Homeowners Insurance (HO3)

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability4 records

Feature2 records

Partnerships

Five partnerships are on record, tiered core and major.

• Hi MarleycoreTechnology or Integration · 3 September 2025Heritage announced a new partnership with Hi Marley that allows policyholders to start an insurance claim simply by sending a text message, improving customer experience and claims intake efficiency through intelligent SMS-based communication.
• Hawaii Hurricane Relief FundcoreStrategic or Co-development Partner · 1 July 2025Heritage subsidiary Zephyr Insurance entered into a partnership with the Hawaii Hurricane Relief Fund, providing enhanced hurricane protection coverage for Hawaii policyholders through the state-sponsored risk pooling mechanism.
• Catastrophe Reinsurance PartnerscoreStrategic or Co-development Partner · 8 May 2025Heritage has secured catastrophe reinsurance coverage from multiple reinsurance partners providing over $2.2 billion of limit including catastrophe bonds. The program includes multi-year coverage and lower overall cost of $367.5 million.
• GuidewirecoreTechnology or IntegrationHeritage Insurance has deployed Guidewire's PolicyCenter and BillingCenter on the Guidewire Cloud Platform across 13 states, with PwC leading the implementation, providing modern core insurance system capabilities.
• PwCmajorImplementation/ SI/ Consulting PartnerPwC led the implementation of Guidewire's PolicyCenter and BillingCenter on the Guidewire Cloud Platform across Heritage's 13-state footprint.

Scale indicators12 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Markel Group: Large specialty insurance holding company with property and casualty operations spanning specialty personal lines and E&S. While far broader and more diversified than Heritage, Markel represents an established specialty insurance benchmark and competes in some of Heritage's specialty product categories.
• Hanover Insurance Group: Mid-size national P&C carrier with meaningful personal and commercial property exposure, particularly in the Northeast where Heritage operates through NBIC. Comparable in scale and provides overlap in personal lines and commercial residential products.
• Travelers Companies: Large national P&C carrier with significant homeowners and commercial residential exposure across the U.S. While much larger and more diversified than Heritage, Travelers competes for the same agent relationships and property insurance customers and provides a benchmark for combined ratio performance and AI underwriting adoption.

Direct peers

• Palomar Holdings: Specialty property insurer focusing on catastrophe-exposed coastal and earthquake-exposed geographies with a similar surplus-lines distribution strategy. Comparable in scale and growth profile, and competes for specialty residential and commercial residential premiums in CA and other CAT-prone states.
• Universal Insurance Holdings (now 1347 Property Insurance): Publicly traded Florida-headquartered P&C insurer writing homeowners, condo, and commercial residential coverage — an almost identical product set to Heritage. Operates in overlapping catastrophe-exposed geographies with comparable agent distribution and reinsurance-driven capital structure.
• FedNat Holding Company: Florida-focused residential property writer (now operating through FedNat Insurance Company and Maison Insurance) competing directly in catastrophe-exposed homeowners markets. Smaller and historically financially pressured, but a direct overlap in product, geography, and agent distribution model.
• American Integrity Insurance: Florida-focused P&C insurer specializing in catastrophe-exposed residential property. Notably, Heritage CEO Ernie Garateix was previously VP of Operations at American Integrity, highlighting direct operational and strategic overlap in product, geography, and underwriting philosophy.
• Tower Hill Insurance Group: Mutual-style Florida property and casualty writer focused on homeowners in catastrophe-exposed regions. Shares Heritage's product mix and core geography, and is one of the most direct Florida P&C peers in agent distribution and risk appetite.
• HCI Group: Florida-based specialty property and casualty insurer focused on catastrophe-exposed personal lines, with direct overlap to Heritage in homeowners and commercial residential. Both are super-regional carriers that have aggressively pursued rate adequacy in catastrophe-prone states and rely heavily on reinsurance to manage volatility.

Regional players

• Citizens Property Insurance Corporation: Florida state-backed residual market insurer of last resort for property coverage. While not a direct commercial peer, Citizens is the dominant Florida property writer and serves as a structural counterweight to Heritage — its depopulation efforts directly compete with Heritage for non-catastrophe-exposed takeout policies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks1 record

Key highlights7 records

Customer concentration

• Facebookfacebook.com/Heritagepci
• LinkedInlinkedin.com/company/heritage-property-&-casualty-insurance
• Instagraminstagram.com/heritageinsuranceholdings

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Heritage Insurance Holdings