Risk Factors Update Summary
- Addition of risks: inflationary pressures, competitive technologies, climate change, legal standards, and consumer initiatives.
- Enhanced cybersecurity risks disclosure, including potential impacts on operations, reputation, and financials.
- Commutation of the 2017 reinsurance agreement with FHCF resulted in a final payment for Hurricane Irma claims.
- Reduction in the risk-based capital ratio requirement for Heritage P & C from 350% to 325%.
- Decrease in catastrophe reinsurance coverage from $3.2 billion to $2.9 billion for Heritage P.
- Change in the percentage of Hawaiian independent agencies affiliated with large multi-agencies from 50.6% to 22.0%.
- Increase in the percentage of voluntary personal lines policies held by the three largest relationships.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1598665&owner=exclude
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