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

Issuer:     AMERICAN COASTAL INSURANCE Corp (ACIC)
CIK:        0001401521
Form:       8-K
Filed at:   2024-11-06T23:59:59+00:00
Accession:  0001401521-24-000115
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

American Coastal Q3 core EPS $0.54 vs est $0.15; book value $5.38; guides FY24 net income $75-80M
--------------------------------------------------------------------------------

- Q3 core income $26.9M ($0.54), +73.6% YoY, vs analyst estimate $0.15; combined ratio 57.7% vs 62.7%.
- Net premiums earned $74.5M, +48.2% YoY, driven by reduced quota share cession from 40% to 20% eff June 1, 2024.
- Hurricane Milton estimated net loss $20.5M pre-tax; full reinsurance tower intact with net retention $10.3M after tax.
- Book value per share $5.38, +93.5% YoY; underlying book value $5.63; stockholders' equity $259.6M.
- FY 2024 guidance: net income from continuing ops $75-80M; Q4 net income $4.6-9.6M including Milton losses.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1401521/000140152124000115/0001401521-24-000115-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1401521/000140152124000115/acic-20241106.htm
  HTML page:      https://secwatch.observer/filing/0001401521-24-000115

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