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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.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
No specific forward guidance provided in the current report.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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