ACIC Q4 core income $0.39, up 225% YoY; combined ratio 66.6% vs 104.5%

AMERICAN COASTAL INSURANCE Corp

2023-FY EPS reported $6.98 revenue$286,543,000

Net income from continuing ops $17.1M ($0.37) vs $1.0M ($0.02) YoY; core income $17.7M ($0.39).
Gross premiums earned $167.5M, +15.7% YoY; combined ratio improved 38 pts to 66.6%.
Personal lines combined ratio 207.4%; NY rate increase +12.6% approved (eff. Feb/Mar 2024).
ATM raised $38.2M from 4.37M shares at avg $9.00; book value per share $3.61 (vs -$4.21).
Commuted CAT reinsurance for $6.4M charge; net economic benefit of $8.0M over time.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AMERICAN COASTAL INSURANCE Corp reported financial results for fourth quarter and year ended December 31, 2023.

Period: fourth quarter and year ended December 31, 2023
Result: reported results

Exact text from the filing

American Coastal Insurance Corporation (Nasdaq: ACIC) ("ACIC" or "the Company"), a property and casualty insurance holding company, today reported its financial results for the fourth quarter and year ended December 31, 2023.

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AMERICAN COASTAL INSURANCE Corp filing history →

Source: SEC EDGAR

accession 0001401521-24-000021

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