March 2022 Investor Presentation
INVESTMENT PORTFOLIO
Heritage has a very conservative investment portfolio, consisting predominantly of low duration, fixed income
securities. As of 4Q2021, duration was 3.9 years, in line with 3Q21 and 0.3 years above 4Q2020's 3.6 years.
INVESTMENT PORTFOLIO BREAKDOWN (4Q2021)
NET INVESTMENT INCOME PERFORMANCE
Other, 4%
US government,
11%
$800
3.0%
$700
Industrial & misc.
bonds, 29%
Munis, 15%
Investments ($ in millions)
2.6%
2.4%
2.5%
$600
2.0%
1.8%
1.9%
2.1
2.0%
$500
1.6%
$400
1.4%
1.5%
$300
0.9%
1.0%
$200
0.5%
Special revenue
$100
bonds, 42%
$0
$136.2
$331.2
$400.1
$603.0
$567.0
$528.6
$595.2
$589.0
$694.7
2013
2014
2017
0.0%
2018
2019
2020
2021
March 2022 Investor Presentation
13
2015
2016
Investments (left axis)
Net investment income (right axis)
H
Net investment income yieldView entire presentation