American Coastal Insurance Corporation (ACIC) reported its financial results for the third quarter ended September 30, 2026. The company reported net income of $19.4 million, or $0.40 per diluted share, for the quarter, which represents a decrease of 40.3% compared to the same period in the prior year.
For the nine months ended September 30, 2026, the company reported consolidated net income of $60.5 million, a decrease of 24.6% from $80.3 million in the prior year.
The company reported total revenue of $70.7 million for the third quarter of 2026, down 21.8% from $90.4 million in the third quarter of 2025. This decrease was primarily driven by a 14.9% decline in gross premiums earned to $138.5 million.
American Coastal reported a combined ratio of 64.7% for the third quarter of 2026, compared to 56.9% in the prior year. The company noted that its underlying combined ratio was 68.4% for the quarter, which management stated remained in line with the first two quarters of the year.
Regarding the balance sheet, the company reported cash, cash equivalents, restricted cash, and investment holdings of $707.9 million as of September 30, 2026, an increase from $647.7 million at December 31, 2025.
Management highlighted that the company returned to year-over-year growth in gross premiums written for the first time since early 2025, with gross premiums written increasing by 3.2% to $74.1 million. The company also noted that its book value per share reached $7.52, up 12.1% year-over-year.
