American Coastal Insurance Reports Q1 Net Income of $21.3M

American Coastal Insurance Corporation (ACIC), a property and casualty insurer based in Saint Petersburg, Florida, reported a first-quarter net income of $21.3 million. The company's earnings per share stood at 43 cents, or 42 cents after adjusting for discontinued operations. Total revenue for the quarter reached $72.2 million. Despite a year-to-date decline of 11%, ACIC shares have gained 11% over the past 12 months, closing at $11.92. These financial results provide insight into ACIC's current market performance and profitability within the property and casualty insurance sector.