American Coastal Insurance Files 8-K

TL;DR

ACIC filed an 8-K on Jan 7, 2025, updating corporate details. No major news.

AI Summary

American Coastal Insurance Corporation (formerly United Insurance Holdings Corp.) filed an 8-K on January 7, 2025, reporting an 'Other Events' item. The filing details the company's incorporation in Delaware, its principal executive offices in Saint Petersburg, FL, and its IRS number. It also lists former company names and dates of name changes.

Why It Matters

This filing provides official corporate information and updates for American Coastal Insurance Corporation, which may be relevant for investors and stakeholders tracking the company's status.

Risk Assessment

Risk Level: low — The filing is a routine corporate update and does not contain information that suggests significant new risks.

Key Numbers

• 0001401521 — Central Index Key (Unique identifier for the filer)
• 000-52833 — SEC File Number (SEC filing identifier)
• 75-3241967 — IRS Employer Identification No. (Company tax identification number)

Key Players & Entities

• AMERICAN COASTAL INSURANCE CORPORATION (company) — Registrant
• UNITED INSURANCE HOLDINGS CORP. (company) — Former name
• FMG ACQUISITION CORP (company) — Former name
• Saint Petersburg, FL (location) — Principal executive offices
• January 7, 2025 (date) — Report date

FAQ

Key Financial Figures

• $0.0001 — ange on Which Registered Common stock, $0.0001 par value per share ACIC Nasdaq Stock M
• $90 million — agreement. The agreement provides up to $90 million of occurrence limit excess of the $10 m
• $10 million — llion of occurrence limit excess of the $10 million attachment point to limit the Company's
• $9.8 million — the Company's consolidated retention to $9.8 million per occurrence, net of inuring quota sh
• $11.9 m — cost of the agreement is approximately $11.9 million, a risk adjusted decrease of -8%
• $88.2 million — ment provides coverage of approximately $88.2 million for a first event and $88.2 million for
• $176.4 million — nd $88.2 million for a second event, or $176.4 million in the aggregate, an aggregate increase
• $4.4 million — the aggregate, an aggregate increase of $4.4 million or 2.6% year-over-year. In addition, th
• $4 million — ddition, the attachment point decreased $4 million or 28.6% year-over-year from $14 millio
• $14 million — $4 million or 28.6% year-over-year from $14 million to $10 million. In addition to the "A
• $40 million — nuary 1, 2025, the new CAT Agg provides $40 million of aggregate limit (with a $20 million
• $20 million — $40 million of aggregate limit (with a $20 million per occurrence cap) excess of zero afte
• $6.6 million — cost of the agreement is approximately $6.6 million. This Item 8.01 may contain forward-l

Filing Documents

• uihc-20250107.htm (8-K) — 25KB
• 0001401521-25-000003.txt ( ) — 173KB
• uihc-20250107.xsd (EX-101.SCH) — 2KB
• uihc-20250107_def.xml (EX-101.DEF) — 14KB
• uihc-20250107_lab.xml (EX-101.LAB) — 25KB
• uihc-20250107_pre.xml (EX-101.PRE) — 15KB
• uihc-20250107_htm.xml (XML) — 3KB

01. Other Events

Item 8.01. Other Events. American Coastal Insurance Corporation ("ACIC" or the "Company") successfully renewed its all other perils catastrophe excess of loss agreement (the "AOP CAT" agreement). This agreement provides coverage for in-force, new and renewal business. Effective January 1, 2025, ACIC, through its wholly owned insurance subsidiary American Coastal Insurance Company ("AmCoastal"), renewed the AOP CAT agreement. The agreement provides up to $90 million of occurrence limit excess of the $10 million attachment point to limit the Company's losses from catastrophe loss events other than named windstorms and earthquakes. The Company's wholly owned reinsurance subsidiary, Shoreline Re, is a participant in the AOP CAT agreement, bringing the Company's consolidated retention to $9.8 million per occurrence, net of inuring quota share reinsurance coverage. The cost of the agreement is approximately $11.9 million, a risk adjusted decrease of -8% year-over-year. Exclusive of ACIC's retention the AOP CAT agreement provides coverage of approximately $88.2 million for a first event and $88.2 million for a second event, or $176.4 million in the aggregate, an aggregate increase of $4.4 million or 2.6% year-over-year. In addition, the attachment point decreased $4 million or 28.6% year-over-year from $14 million to $10 million. In addition to the "AOP CAT" agreement, ACIC, through AmCoastal, purchased a new catastrophe aggregate excess of loss agreement (the "CAT Agg" agreement). This agreement provides coverage for in-force, new and renewal business. Effective January 1, 2025, the new CAT Agg provides $40 million of aggregate limit (with a $20 million per occurrence cap) excess of zero after the $40 million annual aggregate deductible has been exceeded. The agreement limits the Company's losses from all catastrophe loss events, including named windstorms, severe convective storms and winter storm events for the full year ending December 31, 2025. The cost of t

View Full Filing

View this 8-K filing on SEC EDGAR