Financial Performance - The company's combined ratio is a key measure of underwriting profitability, with a ratio under 100% indicating an underwriting profit[26]. - The company's risk-based capital (RBC) ratio was reported at 1,757% as of December 31, 2025, exceeding minimum requirements[41]. - The company was fined $400,000 in 2025 related to findings from a statutory financial examination conducted by the Florida Office of Insurance Regulation[38]. Revenue Sources - 100% of the company's condominium revenue is generated through AmRisc, which manages independent agencies in Florida[27]. - The company's apartment and assisted living facility policies are exclusively marketed through Skyway Underwriters, representing 100% of that revenue[28]. Employee and Management Diversity - As of December 31, 2025, the company employed 68 individuals, with 11 in the Claims Department and 10 in Sales and Underwriting[61]. - The management team has seen a 5.7 percentage point increase in gender diversity from December 31, 2024, reaching 44.6%[65]. - As of December 31, 2025, three of the seven members of the executive leadership team are from underrepresented groups, demonstrating a commitment to ESG goals[67]. - In 2021, a female leader was appointed as General Counsel, and in January 2024, a new female Chief Financial Officer was appointed from outside the organization[67]. - Voluntary attrition rate for the year ended December 31, 2025, was 3.0%, indicating effective employee retention strategies[70]. Corporate Governance and Operations - The company changed its name from United Insurance Holdings Corp. to American Coastal Insurance Corporation on July 10, 2023[71]. - The company operates under one reportable operating segment, with the President and CEO as the chief operating decision maker[72]. - There were no related party transactions for the years ended December 31, 2025, 2024, and 2023[277]. Employee Benefits and Environment - Employee benefits include competitive salaries, bonuses, tuition reimbursement, and a robust health care package[73]. - The Human Resources Department focuses on creating an inclusive environment and managing employee-related matters[68]. - The company has made a commitment to achieve net-zero carbon emissions by no later than 2030, although it acknowledges that this timeline may need to be recalibrated[56]. Compliance and Reporting - The company is subject to extensive state-level regulations designed to protect insurance policyholders, impacting various aspects of its operations[35]. - Goodwill is tested for impairment at least annually, with a quantitative assessment performed to determine fair value[275]. - The company provides free access to its Annual Reports and other filings through its website and the SEC's website[75][76]. - The company relies on wholesale partners for new business, compensating them primarily with fixed-rate commissions consistent with market standards[30].
United Insurance(ACIC) - 2025 Q4 - Annual Report