American Coastal Insurance Corp
NASDAQ:ACIC
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American Coastal Insurance Corp
United Insurance Holdings Corp. engages in the residential personal and commercial property and casualty insurance business. The company is headquartered in Saint Petersburg, Florida and currently employs 269 full-time employees. The company went IPO on 2007-10-05. Its segments include personal residential property and casualty insurance policies (personal lines) and commercial residential property and casualty insurance policies (commercial lines). Its insurance subsidiaries provide personal residential and commercial property and casualty insurance products that protect its policyholders against losses due to damage to structures and their contents. Its insurance subsidiaries also sell policies that protect against liability for accidents as well as property damage. The company primarily provides commercial multi-peril property insurance for residential condominium associations and apartments in Florida. Its subsidiaries include United Insurance Management, L.C., United Property & Casualty Insurance Company, and more.
United Insurance Holdings Corp. engages in the residential personal and commercial property and casualty insurance business. The company is headquartered in Saint Petersburg, Florida and currently employs 269 full-time employees. The company went IPO on 2007-10-05. Its segments include personal residential property and casualty insurance policies (personal lines) and commercial residential property and casualty insurance policies (commercial lines). Its insurance subsidiaries provide personal residential and commercial property and casualty insurance products that protect its policyholders against losses due to damage to structures and their contents. Its insurance subsidiaries also sell policies that protect against liability for accidents as well as property damage. The company primarily provides commercial multi-peril property insurance for residential condominium associations and apartments in Florida. Its subsidiaries include United Insurance Management, L.C., United Property & Casualty Insurance Company, and more.
Record Quarter: American Coastal posted its best quarter ever, earning over $42 million before taxes, with net income up 16% year-over-year.
Revenue Growth: Total revenues grew by more than 10% in the third quarter, driven by increased net premiums earned.
Disciplined Underwriting: Premiums written were intentionally slowed in Q3 to manage hurricane exposure, with normal operations resuming in Q4 and expected growth ahead.
Expense Management: Operating and acquisition costs rose as planned, but were offset by higher net premiums earned and lower catastrophe losses.
Soft Market Headwinds: Management noted ongoing pressure from a softening commercial property market, with pricing down and a focus on risk selection.
Liquidity and Equity Strength: Cash and investments rose 28.5% to $695 million, and book value per share increased 37.2% since year-end.
New Market Expansion: The company launched a new product targeting the assisted living facility insurance market in Florida, aiming for measured growth in 2026.
