Heritage Insurance Holdings Inc. (HRTG) on Wednesday reported earnings of $14.2 million in its first quarter of this year, about the same as earnings for Q1 of 2023, but down from the $31 million in net income reported for the fourth quarter of 2023.

The Tampa-based property and casualty insurance holding company is the parent company of Heritage Insurance, Narragansett Bay Insurance and Zephyr Insurance. The holding firm posted revenue of $191.3 million in Q1, up 8% from the first quarter last year, thanks in part to reduced exposure and to significant rate increases.

The firm’s combined ratio was 94% for Q1, a slight improvement over last year’s quarterly number, the company’s financial statements show.

The black ink reflects a significant improvement from the Heritage financial picture in 2021 and 2022, at the depths of what has been called the Florida property insurance crisis. At the end of Q1 2022, Heritage holdings reported a $31 million net loss.

Since then, a number of Florida insurers have seen a significant reduction in litigation expenses, a key metric behind the crisis. And Heritage has continued to reduce its exposure in Florida and other states. Heritage held 182,673 policies in Florida at the end of 2022 and 529,907 policies in all 17 states in which its subsidiaries write. By the end of the first quarter this year, the number of Florida policies had dropped to 147,9654. In all 17 states, policies in force fell to 436,955 — a drop of almost 18% in less than 18 months.

But the cutbacks were not across the board. Heritage said in a news release that it had increased its commercial residential premium significantly.

“As part of our exposure management strategy, we continue to grow our policy count in products and geographies which are profitable and reduce our policy count in unprofitable and over concentrated areas,” the release noted.

“The management team is resolute in our focus to generate underwriting profits across our footprint, maintain adequate rates, ensure selective underwriting, and employ meticulous but fair claims handling,” CEO Ernie Garateix said in a statement.

4,800 Heritage Irma Claims Handled by Unlicensed Adjusters, Lawsuit Charges

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The governor’s office estimates Florida could eventually save nearly a billion dollars through help provided by the Hope Florida program.

Hope Florida has been around for three years after it was spearheaded by Florida first lady Casey DeSantis, who wanted to improve connections between people and aid outside of government.

She was helping bag groceries Thursday to highlight how the program works.

“I always say you can have the best resources, you can have the best programs, but if you don’t know that they’re there, what good are they?” DeSantis told us during a one-on-one interview.

The first lady officially launched Hope Florida in 2021 after it ran as a pilot program in a few key spots around the state. It was conceived as a better way to connect those in need with the private sector, nonprofits, and especially faith groups.

Hope Florida acts as a conduit to ensure aid in an area gets to where it’s needed most. Organizers say it eases the burden on Florida’s welfare programs.

“It’s helping people find a better place in life,” DeSantis said. “Helping them live up to their God-given potential, helping them on a pathway to economic self-sufficiency.”

Since starting in 2020 as a pilot, Hope Florida reports it’s helped more than 87,000 Floridians. Over 25,000 of them have cut down or eliminated their use of public aid for food or cash. In 10 years, the state said that’ll equal a Florida savings of nearly $795,000,000.

At Hope Florida’s core is its Hope Navigators like Kirsten Lovett.

“We are someone that actually gives people hope,” she said.

When requests come, Lovett acts sort of like a social worker who helps determine the needs of a person or family. She enters it all into a website, the CarePortal.

From there, charities and churches enrolled with Hope Florida are alerted. If they think they can help with food, furniture or whatever the need might be, they say so. Navigators like Lovett then coordinate.

“A lot of times families hear no — that denial kind of discourages them,” she said. “What we do is make those calls for them. When we call them back— all they hear is yes.”

It was City Church in Tallahassee on Thursday that said yes. And Pastor Dean Inserra said Hope Florida is helping his church say it a lot more.

“It’s real easy to know that there are needs in the big picture, generically,” Inserra said. “But it can be so big you feel like you can’t make a difference by taking the next step. CarePortal allows us to have a clear next step and say here are real people, with real problems, that are right next door.”

Right next door, or even down the road in Quincy, where one family we met with, got the care it needed. That, and a little more hope, thanks in part to Hope Florida.

“If you are looking for hope, Hope Florida is a place to start, and it’s 850-300-HOPE,” DeSantis said.

Scripps Only Content 2024

USC transfer offensive lineman Jason Zandamela, who is widely regarded as one of the top available transfers in the nation, has committed to the Florida Gators.

A true freshman, Zandamela (6 foot 3 inches, 305 pounds) will have all four years of eligibility remaining. Prior to his enrollment at USC, he was a consensus four-star and was considered the No. 1 interior offensive line recruit by 247 Sports and Rivals. He was the Trojans’ highest-rated signee of the 2024 class.

Reports on April 11 indicated that he would be leaving the USC football program, and he officially announced his entrance into the portal on April 16. 

“I don’t want to speak for him, but he’s got a very unique background and that played a large part in this,” said USC head coach Lincoln Riley at the time of the initial report.

Zandamela originally is from Mozambique and spent his high school football career at Clearwater (Fla.) Academy International. He recently took an official visit to Florida from April 26 through April 28 after previously visiting UCF. 

Zandamela’s commitment fills a major position of need on the interior offensive line. Following the postseason transfers of 2023 starters Micah Mazzccua and Richie Leonard IV, the Gators were left depleted inside. 

Rising sophomore Knijeah Harris, who spent most of 2023 as Florida’s sixth man in the offensive line rotation, seemingly locked up the left guard position after a strong spring performance. 

Meanwhile, Damieon George Jr., who spent most of 2023 at tackle, made the move to right guard prior to Florida’s spring camp, a position better suited for the fifth-year junior. Despite spending most of spring with the first team offense, the uncertainty of his position change as well as a lack of experience at the position led Florida to look to the portal for another guard. 

With Zandamela joining the program, Florida is back up to the 85-man scholarship limit. The Gators previously saw the departures of linebacker Mannie Nunnery and corner Ethan Pouncey through the portal as well as the retirement of offensive lineman Riley Simonds, who is now a student-coach with the program. 

Florida also added former Air Force tight end Caleb Rillos through the transfer portal. He will be a preferred walk-on in 2024. The Gators also added  offensive lineman Enoch Wangoy, a 2025 commit who reclassified to the 2024 class.