Heritage Insurance Holdings Inc (HRTG) |
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Heritage Insurance Holdings Inc's Suppliers Performance
HRTG's Supply Chain
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HRTG Costs vs Sales of Suppliers Growth |
Heritage Insurance Holdings Inc's Suppliers recorded an increase in sales by 4.21 % year on year in Q3 2023, sequentially sales grew by 4.56 %, while their net margin rose to 8.01 % year on year, Heritage Insurance Holdings Inc's Suppliers improved sequentially profit margin to 4.56 %,
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Heritage Insurance Holdings Inc's Suppliers recorded an increase in sales by 4.21 % year on year in Q3 2023, sequentially sales grew by 4.56 %, while their net margin rose to 8.01 % year on year, Heritage Insurance Holdings Inc's Suppliers improved sequentially profit margin to 8.01 %,
• More on HRTG Suppliers
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News about Heritage Insurance Holdings Inc Contracts |
Heritage Insurance Holdings Inc's Comment on Supply Chain
Our business depends upon the use, development and implementation of integrated
technology systems. These systems enable us to provide a high level of service
to agents and policyholders by processing business efficiently, communicating
and sharing data with agents, providing a variety of methods for the payment
of premiums and allowing for the accumulation and analysis of information for
our management. We believe the availability and use of these technology systems
has resulted in improved service to agents and customers, increased efficiencies
in processing Heritage P&C’s business and lower operating costs.
We also license software from third parties, including West Point Underwriters,
Majesco Mastec and AIR Worldwide, Inc. (“AIR”). AIR’s catastrophe
modeling software enables us to optimize our insurance portfolio to manage our
reinsurance costs. We also own or license other technology systems used by Heritage
P&C. These technology systems consist primarily of an integrated central
processing computer, a series of server-based computer networks, a back-up server
and various Internet-based communications systems.
Our reinsurance agreements are short-term, prospective contracts. We record
an asset, prepaid reinsurance premiums, and a liability, reinsurance payable,
for the entire contract amount upon commencement of our new reinsurance agreements.
We amortize our reinsurance premiums over the 12-month contract period, which
is June 1 through May 31.
In the event that we incur losses and loss adjustment expenses recoverable under
our reinsurance program, we record amounts recoverable from our reinsurers on
paid losses plus an estimate of amounts recoverable on unpaid losses. The estimate
of amounts recoverable on unpaid losses is a function of our liability for unpaid
losses associated with the reinsured policies; therefore, the amount changes
in conjunction with any changes to our estimate of unpaid losses. As a result,
a reasonable possibility exists that an estimated recovery may change significantly
in the near term from the amounts included in our consolidated financial statements.
9
Heritage Insurance Holdings Inc's Comment on Supply Chain
Our business depends upon the use, development and implementation of integrated
technology systems. These systems enable us to provide a high level of service
to agents and policyholders by processing business efficiently, communicating
and sharing data with agents, providing a variety of methods for the payment
of premiums and allowing for the accumulation and analysis of information for
our management. We believe the availability and use of these technology systems
has resulted in improved service to agents and customers, increased efficiencies
in processing Heritage P&C’s business and lower operating costs.
We also license software from third parties, including West Point Underwriters,
Majesco Mastec and AIR Worldwide, Inc. (“AIR”). AIR’s catastrophe
modeling software enables us to optimize our insurance portfolio to manage our
reinsurance costs. We also own or license other technology systems used by Heritage
P&C. These technology systems consist primarily of an integrated central
processing computer, a series of server-based computer networks, a back-up server
and various Internet-based communications systems.
Our reinsurance agreements are short-term, prospective contracts. We record
an asset, prepaid reinsurance premiums, and a liability, reinsurance payable,
for the entire contract amount upon commencement of our new reinsurance agreements.
We amortize our reinsurance premiums over the 12-month contract period, which
is June 1 through May 31.
In the event that we incur losses and loss adjustment expenses recoverable under
our reinsurance program, we record amounts recoverable from our reinsurers on
paid losses plus an estimate of amounts recoverable on unpaid losses. The estimate
of amounts recoverable on unpaid losses is a function of our liability for unpaid
losses associated with the reinsured policies; therefore, the amount changes
in conjunction with any changes to our estimate of unpaid losses. As a result,
a reasonable possibility exists that an estimated recovery may change significantly
in the near term from the amounts included in our consolidated financial statements.
9
HRTG's Suppliers Net Income grew by |
HRTG's Suppliers Net margin grew in Q3 to |
10.44 % |
8.01 % |
HRTG's vs. Suppliers, Data
(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)
COMPANY NAME |
MARKET CAP |
REVENUES |
INCOME |
EMPLOYEES |
Heritage Insurance Holdings Inc |
287.55 |
723.12 |
26.87 |
247 |
Accenture Plc |
220,720.49 |
64,573.60 |
7,038.47 |
721,000 |
Amerisafe Inc |
949.45 |
306.50 |
63.71 |
449 |
Achari Ventures Holdings Corp I |
35.36 |
855.20 |
-2.25 |
214 |
Beazer Homes Usa Inc |
967.26 |
2,147.69 |
156.01 |
1,063 |
Ccc Intelligent Solutions Holdings Inc |
7,462.22 |
841.88 |
-115.29 |
2,250 |
Century Communities Inc |
2,990.25 |
3,727.03 |
194.24 |
510 |
Cnh Industrial N v |
16,906.85 |
24,687.00 |
2,383.00 |
69,207 |
Crawford and Co |
384.85 |
1,338.22 |
-9.39 |
8,941 |
Corvel Corporation |
4,453.07 |
749.96 |
74.72 |
3,508 |
Covanta Holding Corporation |
2,793.12 |
2,034.00 |
25.00 |
0 |
Cavco Industries Inc |
3,246.33 |
1,851.05 |
171.33 |
3,700 |
Duck Creek Technologies Inc |
2,520.90 |
310.08 |
-14.19 |
1,883 |
Dillard s inc |
7,720.14 |
6,878.03 |
777.53 |
40,000 |
D r Horton Inc |
55,239.44 |
35,928.60 |
4,782.60 |
13,237 |
Employers Holdings Inc |
1,187.37 |
850.90 |
118.10 |
716 |
Engagesmart Inc |
3,924.71 |
363.02 |
24.88 |
789 |
Ford Motor Co |
53,452.00 |
176,191.00 |
4,329.00 |
183,000 |
Fastly Inc |
1,629.36 |
505.33 |
-133.09 |
976 |
General Motors Company |
62,089.85 |
171,842.00 |
9,840.00 |
157,000 |
Green Brick Partners Inc |
2,682.95 |
1,758.42 |
287.48 |
0 |
Guidewire Software Inc |
9,648.39 |
925.02 |
-50.73 |
1,893 |
The Hartford Financial Services Group Inc |
32,104.54 |
24,527.00 |
2,504.00 |
18,100 |
Honda Motor Co Ltd |
63,238.34 |
114,450.18 |
4,855.54 |
215,638 |
Hovnanian Enterprises Inc |
993.03 |
2,463.18 |
132.53 |
0 |
Kb Home |
5,950.46 |
6,410.63 |
590.18 |
1,590 |
Lennar Corp |
49,333.22 |
34,233.37 |
3,961.29 |
9,495 |
Lgi Homes Inc |
2,665.67 |
2,358.58 |
199.23 |
390 |
M d c Holdings Inc |
4,762.79 |
4,520.11 |
401.01 |
0 |
Mi Homes Inc |
3,667.23 |
4,033.50 |
465.37 |
1,008 |
Mandiant Inc. |
5,359.35 |
391.26 |
848.98 |
0 |
Hello Group Inc |
2,476.78 |
2,287.25 |
-459.11 |
2,394 |
Meritage Homes Corporation |
6,185.02 |
1,518.56 |
738.75 |
1,409 |
Navistar International Corporation |
4,458.90 |
7,714.00 |
-173.00 |
14,400 |
Nobility Homes Inc |
109.02 |
64.82 |
11.32 |
129 |
Nvr Inc |
27,018.67 |
9,518.20 |
1,591.61 |
6,600 |
New Home Co Inc |
165.83 |
497.10 |
5.23 |
234 |
Oshkosh Corporation |
7,926.10 |
9,393.90 |
522.30 |
13,300 |
Paccar Inc |
65,079.42 |
32,358.10 |
3,653.10 |
28,500 |
Pultegroup Inc |
26,783.12 |
16,061.58 |
2,602.37 |
6,182 |
Qualys Inc |
6,202.98 |
553.97 |
151.60 |
869 |
Rapid7 Inc |
2,992.48 |
776.97 |
-149.26 |
1,079 |
Secureworks Corp |
501.62 |
463.48 |
-114.50 |
2,555 |
Shyft Group Inc |
408.56 |
871.36 |
6.46 |
1,800 |
Skyline Champion Corporation |
4,738.01 |
2,000.90 |
237.50 |
1,200 |
Sapiens International Corp N V |
1,702.97 |
461.04 |
47.32 |
2,376 |
Tenable Holdings Inc |
5,506.36 |
798.13 |
-10.88 |
1,367 |
Toyota Motor Corp |
3,495,179.48 |
214,672.29 |
19,665.70 |
348,877 |
Taylor Morrison Home Corp |
6,656.13 |
7,901.79 |
871.98 |
113 |
Toll Brothers Inc |
13,974.92 |
9,994.94 |
1,372.07 |
3,900 |
Tri Pointe Homes Inc |
3,666.15 |
4,167.88 |
349.20 |
1,036 |
Vanjia Corporation |
165.60 |
0.02 |
0.07 |
1 |
Varonis Systems Inc |
5,122.58 |
498.41 |
-100.92 |
1,251 |
Clear Secure Inc |
1,942.17 |
613.58 |
49.89 |
2,251 |
SUBTOTAL |
4,318,041.85 |
1,015,240.57 |
74,768.04 |
1,898,380 |
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