FedNat Announces Certain Preliminary Fourth Quarter 2019 Results
FedNat Holding Company (FNHC)
Last fednat holding company earnings: 2/26 04:01 pm
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US:NASDAQ Investor Relations:
fednat.com/investors
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Source: GlobeNewswire
SUNRISE, Fla., Feb. 19, 2020 (GLOBE NEWSWIRE) -- FedNat Holding Company (Nasdaq: FNHC) (“FedNat” or the “Company”), a regional insurance holding company, today announced certain preliminary results for the fourth quarter of 2019, including catastrophe claims, and prior as well as current year adverse reserve development. The Company also provided an update on recently approved rate increases in its Florida and non-Florida homeowners insurance lines. The Company anticipates reporting pre-tax catastrophe claims of $4.5 million, net of reinsurance and profit-share, for the fourth quarter of 2019. Gross catastrophe claims in the quarter amounted to $6.0 million, including $3.0 million from the Company’s Florida property business and $3.0 million from the Company's non-Florida property business. The non-Florida claims are subject to a 50% profit-sharing agreement with the non-affiliated managing general underwriter that writes FedNat Insurance Company's ("FNIC") non-Florida property
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