secwatch.observer — SEC 8-K summary
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Issuer:     AMERICAN COASTAL INSURANCE Corp (ACIC)
CIK:        0001401521
Form:       8-K
Filed at:   2023-06-05T23:59:59+00:00
Accession:  0001401521-23-000088
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1401521/000140152123000088/0001401521-23-000088-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1401521/000140152123000088/uihc-20230605.htm
  HTML page:      https://secwatch.observer/filing/0001401521-23-000088

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