Financial Performance - Gross premiums written for the three months ended March 31, 2024, were $197,458,000, an increase from $187,123,000 in the same period of 2023, representing a growth of 7.1%[155] - Gross premiums earned increased to $168,822,000 for the three months ended March 31, 2024, compared to $144,476,000 for the same period in 2023, reflecting a growth of 16.9%[156] - Net premiums earned decreased to $68,730,000 in Q1 2024 from $87,324,000 in Q1 2023, a decline of 21.2%[156] - Total revenues for the three months ended March 31, 2024, were $73,204,000, down from $90,320,000 in the same period of 2023, a decrease of 18.9%[156] - Net income from continuing operations for Q1 2024 was $23,599,000, compared to $30,367,000 in Q1 2023, a decline of 22.3%[156] - Net income attributable to American Coastal Insurance Corporation for Q1 2024 decreased by $243,681,000, or 91.2%, to $23,599,000 from $267,280,000 in Q1 2023[190] Ratios and Efficiency - The loss ratio, net for Q1 2024 was 23.1%, compared to 18.9% in Q1 2023, indicating a deterioration in loss performance[156] - The expense ratio for Q1 2024 improved to 35.2% from 43.4% in Q1 2023, reflecting better cost management[156] - The combined ratio for Q1 2024 was 58.3%, an improvement from 62.3% in Q1 2023, indicating enhanced operational efficiency[156] - The underlying loss and LAE ratio for Q1 2024 was 9.2%, a decrease of 2.5 points from 11.7% in Q1 2023[195] Investment and Cash Management - Total cash, cash equivalents, restricted cash, and investment portfolio increased to $504,456,000 as of March 31, 2024, from $369,022,000 at December 31, 2023, representing a 36.6% increase[166] - The investment portfolio consisted of 39.4% total investments, with cash and cash equivalents making up 56.6% of the total as of March 31, 2024, compared to 41.7% at December 31, 2023[167] - Approximately 83.1% of fixed maturities were U.S. Treasuries or corporate bonds rated "A" or better as of March 31, 2024[167] - The company does not invest in derivative securities and limits investments in non-investment-grade fixed maturities[166] - The investment strategy aims to preserve capital, maximize after-tax investment income, maintain liquidity, and minimize risk[165] - Cash inflows from operating activities totaled $124,484,000 for the three months ended March 31, 2024, compared to cash outflows of $104,164,000 during the same period in 2023[225] - Net purchases of investments totaled $2,005,000 during the three months ended March 31, 2024, compared to net sales of investments of $195,082,000 during the same period in 2023[226] - Cash provided by financing activities totaled $11,398,000 for the three months ended March 31, 2024, compared to no cash used in financing activities for the same period in 2023[227] Policy and Claims Management - The total number of catastrophe loss events incurred in Q1 2024 was 6, with total losses of $754,000, compared to 3 events and $2,615,000 in Q1 2023[182] - Unpaid losses and loss adjustment expenses totaled $279,556,000 as of March 31, 2024, down from $370,221,000 as of December 31, 2023[186] - The total ceding ratio for reinsurance costs increased to 59.3% for the three months ended March 31, 2024, compared to 39.6% for the same period in 2023[174] - Ceded premiums earned amounted to $100,092,000 for the three months ended March 31, 2024, compared to $57,152,000 for the same period in 2023, reflecting a significant increase[178] Segment Performance - Gross written premiums for the commercial lines operating segment increased by $7,960,000, or 4.5%, to $184,601,000 for the three months ended March 31, 2024, from $176,641,000 for the same period in 2023[200] - Pretax earnings for the commercial lines operating segment decreased by $6,124,000, or 15.7%, to $32,795,000 for the three months ended March 31, 2024, from $38,919,000 for the same period in 2023[199] - Gross written premiums for the personal lines operating segment increased by $2,375,000, or 22.7%, to $12,857,000 for the three months ended March 31, 2024, from $10,482,000 for the same period in 2023[210] - Pretax earnings for the personal lines operating segment increased by $3,013,000, or 158.0%, to $1,106,000 for the three months ended March 31, 2024, from a pretax loss of $1,907,000 for the same period in 2023[209] Operational Changes - As of October 6, 2023, the company is seeking a buyer for Interboro Insurance Company (IIC) to exit the personal lines business, with the expected sale price being the book value of the entity[153] - A capital contribution of $1,265,000 was made to the reinsurance subsidiary, UPC Re, during the three months ended March 31, 2024[220] - The number of new and renewal policies in Florida decreased to 1,062 in Q1 2024 from 1,157 in Q1 2023[193] - Total operating expenses decreased by $13,758,000 to $24,175,000 in Q1 2024 from $37,933,000 in Q1 2023[196]

Exhibit 99.1 FOR IMMEDIATE RELEASE AMERICAN COASTAL INSURANCE CORPORATION REPORTS FINANCIAL RESULTS FOR ITS FIRST QUARTER ENDED MARCH 31, 2024 Company to Host Quarterly Conference Call at 5:00 P.M. ET on May 9, 2024 The information in this press release should be read in conjunction with an earnings presentation that is available on the Company's website at investors.amcoastal.com/Presentations. St. Petersburg, FL - May 9, 2024: American Coastal Insurance Corporation (Nasdaq: ACIC) ("ACIC" or "the Company") ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ___________________________________ FORM 10-K ___________________________________ ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period _____ to _____ Commission File Number 001-35761 American Coastal Insurance Corporation (Exact Name of Regis ...

American Coastal Insurance Corporation (NASDAQ:ACIC) Q4 2023 Earnings Conference Call February 29, 2024 5:00 PM ET Company Participants Karin Daly - IR Daniel Peed - Chairman of the Board and CEO Bennett Bradford Martz - President Conference Call Participants Greg Peters - Raymond James Aryan Gupta - Eagle Eye Asset Private Limited Bill Dezellem - Tieton Capital Operator Hello, and welcome to the American Coastal Insurance Corporation's 2023 Fourth Quarter and Full Year Earnings Conference Call and Webcast. ...

Core Viewpoint - American Coastal Insurance Corporation reported significant improvements in financial performance for the fourth quarter and full year ended December 31, 2023, with a notable increase in net income and gross premiums written compared to the previous year [1][14][24]. Financial Performance Summary - For Q4 2023, gross premiums written increased by 13.4% to $135.2 million from $119.1 million in Q4 2022 [2][15]. - Total revenues for Q4 2023 were $58.2 million, down 22.1% from $74.7 million in Q4 2022, primarily due to a decrease in net premiums earned [2]. - The company reported a consolidated net income of $14.3 million for Q4 2023, a significant recovery from a net loss of $296.8 million in Q4 2022 [14][24]. - For the full year 2023, net income attributable to the company was $309.9 million, compared to a net loss of $469.9 million in 2022 [24][26]. Premiums and Underwriting - Gross premiums earned for the year increased by 17.1% to $670.0 million in 2023 from $572.3 million in 2022 [2][26]. - The company’s personal lines segment reported a pre-tax loss of $5.2 million in Q4 2023, an improvement from a loss of $10.6 million in Q4 2022 [4][22]. - The commercial lines segment achieved pre-tax earnings of $27.9 million in Q4 2023, up from $3.7 million in Q4 2022, driven by decreased loss and LAE incurred [20]. Expense Management - Policy acquisition costs decreased by 40.2% to $15.2 million in Q4 2023 from $25.4 million in Q4 2022, attributed to increased reinsurance ceding commission income [18]. - General and administrative expenses fell by 20.8% to $8.0 million in Q4 2023, down from $10.1 million in Q4 2022, due to reduced amortization costs [19]. - Operating and underwriting expenses decreased by 35.1% to $2.0 million in Q4 2023 from $3.1 million in Q4 2022 [18]. Return on Equity - The company reported a core return on equity of 100.6% for Q4 2023, a significant increase from 13.4% in Q4 2022 [5][30]. - The return on equity based on GAAP income from continuing operations was 97.0% for Q4 2023, compared to 2.7% in Q4 2022 [5]. Book Value and Investment Portfolio - Book value per share increased by 185.8% to $3.61 at December 31, 2023, from $(4.21) at December 31, 2022 [40]. - The company's cash and investment holdings rose from $340.9 million at December 31, 2022, to $369.0 million at December 31, 2023 [38][39].

Premiums and Revenues - Gross premiums written increased by 13.4% to $135.2 million in Q4 2023, and by 17.1% to $670.0 million for the full year[2]. - Net premiums earned decreased by 27.7% to $55.6 million in Q4 2023, but increased by 4.7% to $281.9 million for the full year[2]. - Total revenues for Q4 2023 were $58.2 million, down 22.1% year-over-year, while full-year revenues increased by 6.2% to $286.5 million[2]. - Total gross written premium increased by $16.0 million, or 13.4%, to $135.2 million in Q4 2023 from $119.1 million in Q4 2022, driven by personal lines and a focus on specialty commercial lines[17]. - Total gross written premium increased by $97.7 million, or 17.1%, to $670.0 million for the year ended December 31, 2023, compared to $572.3 million for the year ended December 31, 2022[26]. Income and Earnings - Consolidated net income attributable to ACIC was $14.3 million in Q4 2023, a significant recovery from a loss of $296.8 million in Q4 2022[2]. - Core earnings for Q4 2023 were $17.7 million, leading to an annualized core return on equity of 100.6%[4]. - Core income per diluted share for the full year was $2.02, compared to a loss of $0.53 in the previous year[2]. - The company's net income for Q4 2023 was $14.3 million, or $0.31 per diluted share, compared to a net loss of $296.8 million, or $6.89 per diluted share, in Q4 2022[16]. - The company reported a basic earnings per share of $0.32 for total operations, compared to a loss of $6.89 in 2022[54]. Loss Ratios and Combined Ratios - The underlying combined ratio for commercial lines was 50.9%, while the consolidated combined ratio was 67.2%[4]. - The combined ratio (CR) improved to 47.1% in Q4 2023 from 89.5% in Q4 2022, a change of (42.4) points[10]. - The loss ratio, net, decreased to 21.2% in Q4 2023 from 54.3% in Q4 2022, a reduction of (33.1) points[10]. - The underlying combined ratio was 50.9% in Q4 2023, compared to 68.4% in Q4 2022, a decrease of (17.5) points[10]. - Catastrophe losses on the combined ratio were (0.8)% in Q4 2023, compared to 25.0% in Q4 2022, a change of (25.8) points[10]. Expenses and Costs - Total expenses decreased significantly to $39,699, down 52% from $82,635 in 2022[54]. - Policy acquisition costs decreased to $15.2 million in Q4 2023 from $25.4 million in Q4 2022, a reduction of $10.2 million[14]. - Policy acquisition costs decreased by $12.0 million, or 12.6%, to $83.3 million for the year ended December 31, 2023, from $95.3 million for the year ended December 31, 2022[29]. - General and administrative expenses decreased by $12.8 million, or 30.3%, to $29.5 million for the year ended December 31, 2023, from $42.3 million for the year ended December 31, 2022[30]. Assets and Equity - Book value per share increased to $3.61, reflecting a 185.7% improvement year-over-year[2]. - Book value per common share increased 185.8% from $(4.21) at December 31, 2022, to $3.61 at December 31, 2023[38]. - Common stockholders' equity attributable to ACIC was $168,765 thousand at December 31, 2023, compared to $(182,039) thousand at December 31, 2022[39]. - The Company's cash and investment holdings increased from $340.9 million at December 31, 2022, to $369.0 million at December 31, 2023[37]. - Stockholders' equity improved to $168,765 from a deficit of $182,039 in 2022, reflecting a positive shift in financial health[56]. Discontinued Operations - Income from discontinued operations improved significantly, with a net income of $227.7 million for the full year compared to a loss of $429.9 million in the previous year[2]. - The company recognized losses from discontinued operations of $2.8 million related to the deconsolidation of United Property & Casualty Insurance Company[16]. - The Company recorded a gain on disposal of its former subsidiary UPC totaling $238.4 million, contributing to income from discontinued operations for the year[25]. Other Notable Information - The company has an exclusive partnership for distribution of Condominium Association properties in Florida with AmRisc Group[42]. - The company earned a Financial Stability Rating of 'A, Exceptional' from Demotech[42]. - The conference call is scheduled for February 29, 2024, at 5:00 P.M. ET[41]. - The company emphasizes the importance of non-GAAP measures for understanding performance, including core income and underlying combined ratio[44][46][47].

Group 1 - American Coastal Insurance Corporation (ACIC) will release its financial results for Q4 and full year 2023 on February 29, 2024, after market close [1] - A quarterly conference call will be held at 5:00 p.m. ET on the same day, including live remarks and a Q&A session [1] - Interested participants should dial in 10 minutes prior to the start of the conference call [1] Group 2 - American Coastal Insurance Corporation is the holding company for American Coastal Insurance Company, which was established in 2007 to insure condominium and homeowner association properties in Florida [2] - The company has an exclusive partnership with AmRisc Group for the distribution of condominium association properties in Florida [2] - American Coastal Insurance Company has received a Financial Stability Rating of 'A, Exceptional' from Demotech [2]

Core Viewpoint - American Coastal Insurance Corporation has announced significant changes to its executive leadership team, aiming to enhance operations and shareholder value through new appointments and promotions [1][2]. Leadership Changes - Svetlana Castle has been appointed as the new Chief Financial Officer, effective January 22, 2024, bringing 15 years of insurance industry experience and various academic qualifications [2][3]. - B. Bradford Martz will transition from CFO to focus on his role as President, emphasizing strategic initiatives and investor relations [3]. - J. Andy Gray has been promoted to Chief Compliance and Risk Officer, a newly created position, to enhance accountability and oversight in compliance and risk management [4][5]. Company Background - American Coastal Insurance Corporation is a property and casualty insurance holding company, founded in 2007, specializing in insuring condominium and homeowner association properties in Florida [6]. - The company has a partnership with AmRisc Group for the distribution of condominium association properties and has received a Financial Stability Rating of 'A, Exceptional' from Demotech [6].

Earnings Presentation 3rd Quarter 2023 Company Overview ACIC is a specialty underwriter of catastrophe exposed property insurance. American Coastal Insurance Corp. (Nasdaq: ACIC) is the insurance ACIC as of September 30, 2023 holding company for two P&C carriers: American Coastal Total Assets: $1.15 billion Insurance Company (AmCoastal) and Interboro Insurance Company (IIC) along with other operating affiliates. Total Equity: $120.6 million AmCoastal has the #1 market share of commercial residential Annuali ...

Financial Performance - Gross premiums written for Q3 2023 were $103.872 million, a slight increase from $103.153 million in Q3 2022[195]. - Gross premiums earned for the nine months ended September 30, 2023, were $468.435 million, compared to $390.576 million for the same period in 2022, reflecting a 20% increase[195]. - Net income from continuing operations for Q3 2023 was $14.373 million, a significant recovery from a loss of $27.446 million in Q3 2022[195]. - Core income for the nine months ended September 30, 2023, was $71.767 million, compared to a loss of $27.731 million for the same period in 2022[195]. - Net income attributable to ACIC for the three months ended September 30, 2023, was $10.568 million, compared to a net loss of $70.884 million in the same period of 2022[197]. - Net earnings attributable to ACIC for the nine months ended September 30, 2023 increased by $468,712,000, or 270.8%, to net income of $295,627,000 from a net loss of $173,085,000 for the same period in 2022[261]. Policy and Operations - Policies in-force decreased by 92.3% from 302,296 at September 30, 2022, to 23,162 at September 30, 2023, primarily due to the receivership of the former subsidiary UPC[192]. - The company has ceased writing personal residential business in South Carolina and Texas since May 1, 2022, and has divested ownership of UPC[186]. - The total number of new and renewal policies decreased by 14,710 to 19,274 for the nine months ended September 30, 2023, compared to 33,984 for the same period in 2022[264]. - The total number of new and renewal policies in Florida decreased to 629 from 818 year-over-year, a decline of 189 policies[244]. Revenue and Expenses - Total revenue for the three months ended September 30, 2023, was $58.714 million, down from $72.752 million in the same period of 2022, representing a decrease of about 19.3%[197]. - Total expenses significantly decreased to $41.012 million for the three months ended September 30, 2023, from $100.235 million in the prior year, a reduction of approximately 59.1%[197]. - Expenses decreased by $59,223,000, or 59.1%, to $41,012,000 for the three months ended September 30, 2023, compared to $100,235,000 for the same period in 2022[236]. - Total operating expenses decreased by $14,924,000, or 13.2%, to $97,865,000 for the nine months ended September 30, 2023, from $112,789,000 for the same period in 2022[267]. Loss Ratios and Claims - The loss ratio, net, improved to 24.7% for the three months ended September 30, 2023, compared to 75.1% in the prior year, indicating a significant reduction in loss expenses[197]. - The combined ratio for the three months ended September 30, 2023, was 68.7%, a substantial improvement from 139.3% in the same period of 2022[197]. - The underlying combined ratio, excluding the effects of current year catastrophe losses, was 64.2% for the three months ended September 30, 2023, compared to 91.2% in the prior year[199]. - Net loss and LAE for the third quarter of 2023 was $13,764,000, a decrease of $39,001,000, or 73.9%, from $52,765,000 in the third quarter of 2022[237]. Reinsurance and Catastrophe Losses - A quota share reinsurance agreement was established with TypTap Insurance Company, ceding 100% of UPC's in-force policies in Georgia, North Carolina, and South Carolina[189]. - The company purchased catastrophe excess of loss reinsurance protection up to an exhaustion point of approximately $1,300 million for the 2023 hurricane season, effective June 1, 2023[213]. - The total incurred catastrophe losses for Q3 2023 amounted to $5,847,000, with a combined ratio impact of 10.5%, compared to $35,606,000 and 50.7% in Q3 2022[225]. - The company has approximately $508 million of occurrence limit remaining for Hurricane Ian, with an aggregate limit of approximately $980 million after reinstatement premiums[214]. Investment and Cash Flow - Cash, cash equivalents, restricted cash, and investment portfolio totaled $286.944 million at September 30, 2023, down from $340.905 million at December 31, 2022[208]. - The company reported net investment income of $2.709 million for the three months ended September 30, 2023, an increase from $2.236 million in the same period of 2022[197]. - During the nine months ended September 30, 2023, the company experienced cash outflows of $184,889,000, a significant increase from cash outflows of $27,048,000 during the same period in 2022[297]. - Net sales of investments during the nine months ended September 30, 2023, totaled $263,877,000, compared to $99,702,000 in the same period of 2022[298]. General and Administrative Expenses - General and administrative expenses fell by $9,828,000, or 61.6%, to $6,131,000 for the third quarter of 2023, largely due to a one-time goodwill impairment charge[240]. - General and administrative expenses decreased by $10,724,000, or 33.3%, to $21,507,000 for the nine months ended September 30, 2023, from $32,231,000 for the same period in 2022[269]. Company Outlook and Concerns - The company concluded that substantial doubt about its ability to continue as a going concern has been alleviated as of June 30, 2023[293]. - The company did not have any off-balance sheet arrangements or material changes to its contractual obligations at September 30, 2023[301].