American Coastal Insurance Q3 revenue falls
ACIC•American Coastal Insurance said Q3 revenue and net income fell year over year as net premiums earned declined; net income was $19.40 million and EPS was $0.40. Gross premiums written rose 3% to $74.11 million, while net pricing fell 25.6%.
1. Q3 results
American Coastal Insurance reported Q3 net income of $19.40 million and EPS of $0.40, both down more than 38% year over year. The company attributed the decline primarily to lower net premiums earned, as gross premiums earned fell.
2. Premiums and outlook
Gross premiums written rose 3% year over year to $74.11 million, the first increase since early 2025. The company said lower gross premiums earned reflected a 25.6% year-over-year decrease in net pricing amid softening market conditions. It expects to begin writing excess and surplus commercial property in Florida, Texas and South Carolina in coming months, and said it is positioning to benefit from a future hard insurance market.
