Revenue: As of FY2025, the actual value is USD 335.44 B.EPS: As of FY2025, the actual value is USD 2.15.EBIT: As of FY2025, the actual value is USD 128.89 B.American Coastal Insurance Corporation operates under a single reportable operating segment, which encompasses its commercial lines business, following the sale of Interboro Insurance Company (IIC) on April 1, 2025, and the prior divestment of United Property &amp; Casualty Insurance Company (UPC) in 2023.<h4>Segment Revenue</h4><ul><li>Gross premiums written decreased by 5.4% to $612,522,000 in 2025 from $647,805,000 in 2024; in 2023, gross premiums written were $635,709,000.</li><li>Gross premiums earned increased by 1.5% to $648,260,000 in 2025 from $638,608,000 in 2024; in 2023, gross premiums earned were $604,683,000.</li><li>Ceded premiums earned decreased by 6.4% to - $341,408,000 in 2025 from - $364,618,000 in 2024; in 2023, ceded premiums earned were - $342,623,000.</li><li>Net premiums earned increased by 12.0% to $306,852,000 in 2025 from $273,990,000 in 2024; in 2023, net premiums earned were $262,060,000.</li><li>Net investment income increased by 6.8% to $22,206,000 in 2025 from $20,795,000 in 2024; in 2023, net investment income was $8,300,000.</li><li>Net realized investment gains (losses) were $1,382,000 in 2025, compared to - $124,000 in 2024 and - $6,789,000 in 2023.</li><li>Net unrealized gains on equity securities were $4,999,000 in 2025, compared to $1,996,000 in 2024 and $814,000 in 2023.</li><li>Total revenue increased to $335,439,000 in 2025 from $296,657,000 in 2024; in 2023, total revenue was $264,400,000.</li></ul><h4>Operational Metrics</h4><ul><li>Losses and loss adjustment expenses (LAE) decreased by 33.6% to $46,040,000 in 2025 from $69,319,000 in 2024; in 2023, losses and LAE were $46,678,000.</li><li>Policy acquisition costs increased by 37.8% to $97,844,000 in 2025 from $70,990,000 in 2024; in 2023, policy acquisition costs were $75,436,000.</li><li>General and administrative expenses decreased by 9.6% to $40,463,000 in 2025 from $44,756,000 in 2024; in 2023, general and administrative expenses were $37,559,000.</li><li>Total expenses decreased by 1.0% to $195,162,000 in 2025 from $197,061,000 in 2024; in 2023, total expenses were $170,548,000.</li><li>Net income from continuing operations increased to $106,795,000 in 2025 from $76,319,000 in 2024; in 2023, net income from continuing operations was $85,204,000.</li><li>Net income was $106,837,000 in 2025, compared to $75,718,000 in 2024 and $309,911,000 in 2023.</li><li>Loss ratio, net was 15.0% in 2025, down from 25.3% in 2024; in 2023, it was 17.8%.</li><li>Expense ratio was 45.1% in 2025, up from 42.2% in 2024; in 2023, it was 43.1%.</li><li>Combined ratio was 60.1% in 2025, down from 67.5% in 2024; in 2023, it was 60.9%.</li><li>Underlying combined ratio was 61.5% in 2025, compared to 59.6% in 2024 and 60.9% in 2023.</li><li>Policies in-force increased by 5.20% from 4,099 at December 31, 2024, to 4,311 at December 31, 2025.</li><li>New and Renewal Policies were 4,363 in 2025, up from 4,167 in 2024.</li><li>Unpaid losses and LAE totaled $165,701,000 as of December 31, 2025, compared to $322,087,000 as of December 31, 2024.</li></ul><h4>Cash Flow</h4><ul><li>Net cash provided by (used in) operating activities was $71,025,000 in 2025, compared to $243,509,000 in 2024 and - $136,003,000 in 2023.</li><li>Net cash provided by (used in) investing activities was $620,000 in 2025, compared to - $179,211,000 in 2024 and - $2,544,000 in 2023.</li><li>Net cash provided by (used in) financing activities was - $1,081,000 in 2025, compared to - $13,840,000 in 2024 and $26,769,000 in 2023.</li></ul><h4>Unique Metrics</h4><ul><li>Capital contributions of $8,269,000 were made to Shoreline Re and $15,000,000 to form a new excess and surplus insurance entity in 2025; in 2024, capital contributions to Shoreline Re were $1,265,000, with no contributions in 2023.</li><li>Dividends received from AmCoastal were $23,000,000 in 2025 and $14,300,000 in 2024.</li><li>Shares sold under equity distribution agreement totaled 4,373,000 as of December 31, 2025, generating net proceeds of approximately $38,190,000.</li></ul><h4>Outlook / Guidance</h4>American Coastal Insurance Corporation aims to be a top-quartile underwriter of catastrophe-exposed property insurance, primarily focusing on low-rise commercial property insurance in Florida. The company believes its current capital resources and operational cash flow are sufficient to meet anticipated working capital requirements. While an aspirational commitment to achieve net-zero carbon emissions by 2030 was previously made, the company now believes further analysis is needed and cannot provide a timeline for achieving this goal as of December 31, 2025.

American Coastal Insurance | 10-K: FY2025 Revenue: USD 335.44 B