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Jun 30, 2024
American Coastal Insurance Q2 2024 Earnings Report
Reported financial results for the second quarter ended June 30, 2024.
Key Takeaways
American Coastal Insurance Corporation reported a profitable second quarter in 2024, successfully placed its core catastrophe reinsurance program, and executed the final phase of its multi-year strategy to phase out personal lines operations with the sale of Interboro Insurance Company.
Recorded a profitable second quarter for American Coastal.
Successfully placed the core catastrophe reinsurance program, increasing the exhaustion point and limiting retention to less than one quarter's pre-tax earnings.
Executed the final phase of the multi-year strategy to phase out personal lines operations by signing definitive agreements for the sale of Interboro Insurance Company.
Total gross written premium decreased by 3.1% to $229.4 million.
American Coastal Insurance
American Coastal Insurance
American Coastal Insurance Revenue by Segment
American Coastal Insurance Revenue by Geographic Location
Revenue by Segment
Commercial property Revenue
CapyFin.comRevenue by Geographic Location
Florida Revenue
CapyFin.com Forward Guidance
The company remains focused on delivering long-term shareholder value over time and will continue to explore further opportunities to expand our product offering to meet the needs of the market.