American Coastal Insurance (ACIC) Investor presentation summary

Investment thesis

• #1 admitted commercial-residential insurer in Florida; profitable every year since 2007.

• Mid-20s ROE and 68.6% underlying combined ratio cited amid soft-market pricing pressure.

• Strategy emphasizes underwriting discipline, catastrophe protection, aligned ownership and specialty E&S growth.

Franchise and underwriting strategy

• AmCoastal is the balance-sheet carrier; AmRisc is an exclusive distribution and underwriting partner, while Skyway manages commercial property programs.

• Portfolio targets low-rise commercial buildings with up to $100M total insured value; flexible, judgment-based pricing applies to over 75% of the portfolio.

• Sophisticated catastrophe modeling, reinsurance partnerships and cycle management support a focus on profitability over top-line growth.

Financial performance

• FY 2025 revenue was $335.4M, core EPS $2.08, combined ratio 60.1% and underlying combined ratio 61.5%.

• YTD Q2 2026 revenue was $153.8M, core EPS $0.72, combined ratio 70.3% and underlying combined ratio 68.6%.

• H1 2026 revenue declined 3.1% YoY to $154M; net income fell 13.9% to $41M and core income per diluted share declined 25.0% to $0.72.

• Book value per share reached $7.21 at June 30, 2026, up 20.2% YoY; H1 return on equity was 25.0% based on GAAP continuing-operations earnings.