United Insurance renews catastrophe reinsurance; ACIC limit down 48%, cost up 30%

AMERICAN COASTAL INSURANCE Corp

ACIC bought $1.322B occurrence limit for 2023/24, down 47.6% from $2.524B, due to UPCIC divestiture.
First-event retention cut to $10M per occurrence (from $16.4M); ACIC reinsurance cost $227.5M, up 30.3%.
IIC secured $82M per-occurrence limit (down 56.3%); cost $9.1M, down 45.2%; retention unchanged at $3M.
Coverage adequate for a 1-in-167-year event for ACIC and 1-in-130-year for IIC.
Both programs reflect reduced exposure after divesting UPCIC; ACIC’s quota share ceded at 40% to A+ rated reinsurers.

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