American Coastal Insurance Corp

investors.amcoastal.com

What Do They Do?

Provides property insurance for condominium associations, apartments and assisted living facilities in Florida.

How Do They Make Money?

Policyholders pay premiums for property coverage, and the company earns those premiums day by day over each policy term.

FY2025 revenue

Who Are Their Customers?

Condominium policies are marketed through independent agencies managed by AmRisc; apartment and assisted living policies are marketed through wholesaler partners working with Skyway Underwriters.

Do Revenues Turn Into Profits?

Yes. It kept 32 cents of every revenue dollar as net income in FY2025 and turned 21 cents into free cash flow.

Operating income, FY2025

42% of revenue

▲ +41% vs FY2024 ($99.6M, 34%)

Net income, FY2025

32% of revenue

▲ +41% vs FY2024 ($75.7M, 26%)

Free cash flow, FY2025

21% of revenue

▼ −71% vs FY2024 ($243.5M, 82%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▼ −4%; vs $86.5M in Q2 FY2025
Net income: ▼ −17%; vs $26.4M in Q2 FY2025

Growing. Revenue grew 47% in 4 years, from $228.7M in FY2021 to $335.4M in FY2025, about 10% a year.

Leaving personal lines and other states The older report describes personal and commercial residential insurance across several states; the latest report centers on commercial property insurance in Florida after UPC entered receivership and IIC was sold.

Adds apartment and assisted-living coverage The older report describes a focus on low-rise commercial property in Florida through AmRisc; the latest report adds apartment and assisted living products distributed through Skyway Underwriters.

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