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Sep 30, 2023
American Coastal Insurance Q3 2023 Earnings Report
American Coastal Insurance reported financial results for the third quarter ended September 30, 2023.
Key Takeaways
American Coastal Insurance Corporation reported a net income of $10.6 million for Q3 2023, a significant improvement compared to a net loss of $70.9 million in Q3 2022. The company's book value per share increased to $2.78, and the core return on equity from continuing operations was 170.3%.
Net income attributable to the company for the third quarter of 2023 was $10.6 million, or $0.24 per diluted share.
Total gross written premium increased by 0.7% to $103.9 million for the third quarter of 2023.
Loss and LAE decreased by $39.0 million, or 73.9%, to $13.8 million for the third quarter of 2023.
Pre-tax earnings attributable to the Company's commercial lines operating segment totaled $25.9 million for the third quarter of 2023 compared to $1.8 million for the third quarter of 2022.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The press release does not contain specific forward guidance. Therefore, this section is left blank.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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