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Mar 31, 2024
American Coastal Insurance Q4 2023 Earnings Report
American Coastal Insurance reported strong first quarter results driven by expanding net earned premiums and a low underlying combined ratio.
Key Takeaways
American Coastal Insurance Corporation reported a strong first quarter with net income of $23.6 million, up 38% from the fourth quarter of 2023. The company's performance was driven by expanding net earned premiums and a very low underlying combined ratio.
Net income for Q1 2024 was $23.6 million, an increase of 38% from Q4 2023.
Gross premiums written increased by 5.5% to $197.5 million.
The increase was primarily driven by increased premiums written in Florida.
Loss and LAE decreased by 3.1% to $15.9 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
No specific forward guidance provided in the current report.