secwatch.observer — SEC 8-K summary
======================================

Issuer:     AMERICAN COASTAL INSURANCE Corp (ACIC)
CIK:        0001401521
Form:       8-K
Filed at:   2023-03-02T23:59:59+00:00
Accession:  0001401521-23-000016
Event type: regulatory
Sentiment:  negative
Materiality: 1.00
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

UIHC reports Q4 net loss $294.9M; subsidiary UPC placed into receivership
-------------------------------------------------------------------------

- Q4 net loss $294.9M ($6.84 diluted EPS); full year net loss $468M ($10.87 EPS).
- UPC placed into receivership Feb 27, 2023; de-consolidation effective that date.
- Pro forma equity after de-consolidation $48M ($1.12/share) vs reported -$180M (-$4.16).
- Hurricane Ian gross loss estimates rose to $1.54B, exhausting UPC's reinsurance.
- Renewal rights agreement with Slide Insurance for UPC policies.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1401521/000140152123000016/0001401521-23-000016-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1401521/000140152123000016/uihc-20230302.htm
  HTML page:      https://secwatch.observer/filing/0001401521-23-000016

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer