American Coastal Insurance Corp
11.91+0.28 (+2.41%)
Oct 29, 4:00:02 PM EDT · NasdaqCM · ACIC · USD
Key Stats
Market Cap
580.79MP/E (TTM)
7.26Basic EPS (TTM)
1.64Dividend Yield
0%Recent Filings
10-Q
Q2 FY2025 results
American Coastal Insurance turned in a solid Q2, with net premiums earned jumping 23.8% year-over-year to $78.4M, fueled by steady gross written premiums around $228M and a lighter reinsurance cession rate. That drove diluted EPS from continuing operations up to $0.56 from $0.39, while the combined ratio tightened to 60.6% thanks to a low 19.8% loss ratio and steady expenses. Cash swelled to $407M including restricted, after $154M from operations, and the IIC sale closed in April for $25.7M cash, booking a small net loss but streamlining focus on Florida residential property. Debt sits at $149M with rates set to drop to 6.25% post-upgrade. Yet reliance on AmRisc for policy production poses a key vulnerability if that partnership sours.
8-K
Q2 net income surges 39%
American Coastal Insurance reported Q2 net income of $26.4 million, up 38.8% from last year, fueled by 23.8% higher net premiums earned to $78.4 million after slashing quota share reinsurance to 15%. Combined ratio improved to 60.6%, beating the 65% target with no catastrophes and $1.3 million in favorable reserve development. Book value per share climbed to $6.00. Strong underwriting shines through.
8-K
Reinsurance renewal boosts coverage
American Coastal Insurance renewed its core catastrophe reinsurance program effective June 1, 2025, boosting aggregate occurrence-based limit to $1.676 billion—a 3.9% increase from last year's $1.614 billion—covering Florida windstorms with sufficient protection for a 1-in-201-year event. First event retention rises to $29.75 million, while costs drop 12.2% to $201.85 million excluding quota share, aided by a 15% external quota share. Reinstatement premiums fall 64% to $5.9 million. This fortifies balance sheet resilience amid hurricane risks.
8-K
Annual meeting elects directors
American Coastal Insurance Corporation held its 2025 Annual Meeting on May 22, electing R. Daniel Peed, Gregory C. Branch, Michael R. Hogan, and Kent G. Whittemore as Class A directors for two-year terms, with strong support for Peed and Branch but narrower margins for Hogan and Whittemore amid 8.99 million broker non-votes. Shareholders overwhelmingly ratified Deloitte & Touche as auditors for the fiscal year ending December 31, 2025. An advisory vote approved executive compensation, favoring three-year frequency intervals. Continuity prevails.
8-K
Q1 earnings dip on costs
American Coastal Insurance reported Q1 2025 net income of $21.3 million, down 9.5% from $23.6 million last year, with core income at $20.7 million and a combined ratio of 65.0%—right on target despite higher policy acquisition costs from reduced quota share reinsurance. Net premiums earned rose 9.0% to $68.3 million, fueled by strong 88.4% retention and selective growth, while book value per share climbed to $5.40. The Interboro sale closed April 1, injecting $26.5 million cash. Yet higher expenses tempered gains.
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