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Heritage Insurance sees Q2 profit drop

Heritage Insurance Holdings (NYSE: HRTG), a Clearwater-based property and casualty insurer, reported $721,000 in net income, or 2 cents a share, on revenue of $122.8 million for the second quarter of 2019. Revenue was up 4 percent, but net income dropped 70 percent, compared to the same period a year ago. The drop in profit primarily reflected a higher net loss ratio stemming from higher catastrophe and non-catastrophe weather losses in the just-ended quarter, Heritage said in a news release.  

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