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Heritage Insurance Holdings Inc   (HRTG)
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Heritage Insurance Holdings Inc's Suppliers Performance

HRTG's Supply Chain

 
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



  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.
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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.
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HRTG's Suppliers Net Income grew by HRTG's Suppliers Net margin grew in Q3 to
10.44 % 8.01 %


Heritage Insurance Holdings Inc 's Suppliers Sales Growth in Q3 2023 by Industry

Suppliers from Construction & Mining Machinery Industry      1.79 %
Suppliers from Construction Services Industry -7.04 %   
Suppliers from EV, Auto & Truck Manufacturers Industry      8.38 %
Suppliers from Insurance Brokerage Industry      10.14 %
Suppliers from Property & Casualty Insurance Industry      10.05 %
Suppliers from Medical Equipment & Supplies Industry  
Suppliers from Professional Services Industry      3.64 %
Suppliers from Software & Programming Industry      11.07 %
Suppliers from Department & Discount Retail Industry -4.38 %   
     
• HRTG Suppliers Valuation • HRTG Suppliers Mgmt. Effect.





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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