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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.
Revenue by Segment
Revenue by Geographic Location
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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