secwatch.observer — SEC 8-K summary
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Issuer:     AMERICAN COASTAL INSURANCE Corp (ACIC)
CIK:        0001401521
Form:       8-K
Filed at:   2023-08-10T23:59:59+00:00
Accession:  0001401521-23-000099
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

American Coastal Insurance Q2 net income $18.2M; combined ratio 67.7%; core EPS $0.65 vs $0.20 YoY
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- Net income from continuing operations $22.6M ($0.52 diluted EPS) vs $5.8M ($0.14) YoY; consolidated net income $18.2M vs loss of $69.0M.
- Core income $28.4M ($0.65 per share) increased 236% from $8.5M YoY; underlying combined ratio improved to 66.0% from 86.2%.
- Gross premiums written up 17.5% to $243.9M; net premiums earned up 28.9% to $83.2M driven by commercial lines rate adequacy.
- Book value per share rose to $2.45 from $1.93 quarter-over-quarter; total equity $106.5M.
- Company changed name to American Coastal Insurance Corp.; new Nasdaq ticker ACIC effective August 15, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1401521/000140152123000099/0001401521-23-000099-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1401521/000140152123000099/uihc-20230810.htm
  HTML page:      https://secwatch.observer/filing/0001401521-23-000099

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