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

Issuer:     AMERICAN COASTAL INSURANCE Corp (ACIC)
CIK:        0001401521
Form:       8-K
Filed at:   2023-06-26T23:59:59+00:00
Accession:  0001401521-23-000092
Event type: other_material
Sentiment:  positive
Materiality: 0.70
Item codes: 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1401521/000140152123000092/0001401521-23-000092-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1401521/000140152123000092/uihc-20230626.htm
  HTML page:      https://secwatch.observer/filing/0001401521-23-000092

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