Heritage CR falls 5 points in Q2 but impairment charge drives $87.9mn net loss

Heritage posted a 5.8 point year on year decrease in its combined ratio to 99.4 percent in Q2 2022, although the improved underwriting performance was not enough to prevent the Florida-based business from posting a net loss of $87.9mn driven by a net non-cash goodwill impairment charge of $90.8mn.