Heritage drops Matthew loss estimate to $100mn

Floridian insurer Heritage said that latest modelled estimates
showed its Hurricane Matthew losses would fall under $100mn, after
previously saying the carrier could take $500mn of claims from the
storm.
CEO Bruce Lucas mooted the $500mn figure last week during an
interview with CNBC - however, this estimate was made before
Matthew weakened and swerved further from the coastline.
A loss of less than $100mn would limit the impact on
Heritage's reinsurance programme to $60mn and put its Citrus Re.