secwatch.observer — SEC 8-K summary
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Issuer:     AMERICAN COASTAL INSURANCE Corp (ACIC)
CIK:        0001401521
Form:       8-K
Filed at:   2024-02-29T23:59:59+00:00
Accession:  0001401521-24-000021
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1401521/000140152124000021/0001401521-24-000021-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1401521/000140152124000021/acic-20240229.htm
  HTML page:      https://secwatch.observer/filing/0001401521-24-000021

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