secwatch.observer — SEC 8-K summary
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Issuer:     AMERICAN COASTAL INSURANCE Corp (ACIC)
CIK:        0001401521
Form:       8-K
Filed at:   2022-11-09T23:59:59+00:00
Accession:  0001401521-22-000120
Event type: earnings
Sentiment:  negative
Materiality: 0.90
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

UIHC reports Q3 net loss of $70.9M, goodwill impairment, and substantial doubt over subsidiary's viability
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- Net loss of $70.9M ($1.65 diluted EPS) vs. $14.3M loss year ago; core loss of $57.5M ($1.34/share).
- Hurricane Ian drove $37.4M net current year catastrophe losses; over 23,000 claims handled, reinsurance key.
- Goodwill impairment of $13.6M related to personal lines withdrawal; stockholders' equity fell to $80.4M ($1.86/book value).
- Regulatory approval received for withdrawal plans in FL, LA, TX; but substantial doubt exists about UPCIC's run-off viability.
- Personal lines policies down 36% YoY; commercial lines grew 15% premium in-force; workforce cut by 37%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1401521/000140152122000120/0001401521-22-000120-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1401521/000140152122000120/uihc-20221109.htm
  HTML page:      https://secwatch.observer/filing/0001401521-22-000120

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