SAINT PETERSBURG, Fla. (AP) — American Coastal Insurance Corp. (ACIC) on Thursday reported first-quarter earnings of $23.6 million.
The Saint Petersburg, Florida-based company, the rebranding of part of now-insolvent United Property & Casualty Insurance Co., said it had net income of 48 cents per share. Earnings, adjusted for non-recurring costs, came to 50 cents per share.
Related: AmCoastal to Sell Interboro to Forza
The property and casualty insurance company posted revenue of $73.2 million in the period. Its adjusted revenue was $73.3 million.
American Coastal shares have increased 15% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $10.91, more than doubling in the last 12 months.
Topics Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
Insurance Broker TWFG Aims to Raise Up to $176M in IPO 
Elon Musk Beats $500 Million Severance Lawsuit by Fired Twitter Workers 
Insurance Industry Impact From Hurricane Beryl Expected to Be ‘Manageable’ 
AT&T Says Data From Around 109M Customer Accounts Illegally Downloaded 
