other material
confidence high
sentiment positive
materiality 0.60
ACIC renews AOP CAT reinsurance with $100M limit; cost down 9.24%, coverage up 70.3%
AMERICAN COASTAL INSURANCE Corp
- Effective Jan 1, 2024, ACIC renewed AOP CAT providing up to $100M limit excess of $10M per occurrence.
- Cost approx $9.9M, down 9.24% YoY on risk-adjusted basis; retention increased to $12.25M per occurrence.
- Aggregate coverage of $172M for first and second events, up 70.3% YoY (increase of $71M).
- Coverage excludes named windstorms and earthquakes; wholly owned subsidiary UPC Re participates.