UIHC provides strategic update: Q1 continuing ops pre-tax income $40.4M, exits personal lines via UPC disposal

AMERICAN COASTAL INSURANCE Corp

Q1 2023 continuing ops pre-tax earnings of $40.4M; annualized revenue $416.2M as of March 31, 2023.
Book value per share restored to $1.93 after deconsolidation of UPC; total equity $83.5M.
ACIC 10-year average pre-tax income $48.1M with attritional loss ratio of 8.0%; profitable every year.
Seeking buyer for Interboro Insurance (IIC) to complete exit from personal lines; IIC has 18,000 policies in NY.
ACIC holds #1 market share in FL commercial residential condominium insurance with $563M premium in-force.

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