Record Earnings and Revenue Growth
American Coastal Insurance Corporation reported over $42 million of earnings before income taxes, marking their best quarter to date. Total revenues grew over 10%, with net income increasing by 16% year-over-year due to muted catastrophe and attritional losses.
Strong Liquidity and Equity Growth
Cash and investments grew 28.5% since year-end to $695 million, reflecting a strong liquidity position. Stockholders' equity increased 38.9% since year-end to $327.2 million, driven by strong results, with book value per share increasing by 37.2% from year-end 2024.
New Product Introduction in Assisted Living Market
Skyway Underwriters launched a new commercial residential property insurance program targeting the assisted and independent living facility market in Florida, representing a new growth avenue for leveraging distribution relationships and underwriting expertise.