American Coastal Insurance Corporation · NASDAQ:ACIC
American Coastal Insurance — United Insurance Holdings — Merger or Acquisition (October 2015)
11 slides from American Coastal Insurance's merger presentation, Oct 1, 2015
Slide 1: UIHC to Acquire Interboro Insurance Company: Accelerating Quality Growth and Diversification
United Insurance Holdings Corp. NASDAQ: UIHC UIHC to Acquire Interboro Insurance Company: Accelerating Quality Growth and Diversification October 2, 2015
Slide 2: Overview of Interboro Insurance Company
2 OCTOBER 2015 INVESTOR PRESENTATION: Acquisition of Interboro Insurance Company Overview of Interboro Insurance Company Interboro Insurance Company is a New York-domiciled property/ casualty insurer authorized to do business in New York, South Carolina, Alabama, Louisiana, and Washington D.C. O
Slide 3: Interboro is consistent with our proven pathways for growth
3 OCTOBER 2015 INVESTOR PRESENTATION: Acquisition of Interboro Insurance Company Interboro is consistent with our 4 proven pathways for growth Organic Underwriting Carrier Partnerships Depopulation Initiatives Merger & Acquisition 4,000 Appointed Independent Agencies & MGA’s Nationally
Slide 4: Transaction Highlights
4 OCTOBER 2015 INVESTOR PRESENTATION: Acquisition of Interboro Insurance Company Transaction Highlights Transaction • Acquisition of Interboro Insurance Company from Interboro, LLC through a combination of up-front cash and seller note Deal Value • $57.0 million • Equivalent to 1.40x GAAP book value
Slide 5: Compelling Strategic Characteristics
5 OCTOBER 2015 INVESTOR PRESENTATION: Acquisition of Interboro Insurance Company Compelling Strategic Characteristics Quality Homeowners Underwriter Platform for Organic Growth Operating Synergies Enhance Value Attractive Financial Characteristics • Experienced local underwriter with solid historica
Slide 6: Homeowners' Profile
6 OCTOBER 2015 INVESTOR PRESENTATION: Acquisition of Interboro Insurance Company 81% 98% 95% 93% 88% 2010 2011 2012 2013 2014 Homeowners’ Profile Homeowners’ Direct Premium Written Homeowners’ GAAP Combined Ratio(1) Dollars in millions $41 $43 $44 $44 $50 2010 2011 2012 2013 2014 Overview • Establis
Slide 7: UPC is Achieving Growth and Geographic Diversification
7 OCTOBER 2015 INVESTOR PRESENTATION: Acquisition of Interboro Insurance Company UPC is Achieving Growth and Geographic Diversification Actual Policies in-force at 6/30/2015 Total PIF: 285,333 Total PIF: 313,153 Proforma Policies in-force at 6/30/2015 170,003 54% 143,150 46% FL Non-FL 170,003 60% 11
Slide 8: Conclusion
8 OCTOBER 2015 INVESTOR PRESENTATION: Acquisition of Interboro Insurance Company Conclusion UIHC’s acquisition of Interboro combines two quality homeowners underwriters with established businesses Interboro’s 100-year lineage and strong broker relationships provide UIHC instant scale and credibility
Slide 9: Safe Harbor – At a Glance
9 Safe Harbor – At a Glance Statements in this presentation that are not historical facts are forward-looking statements that are subject to certain risks and uncertainties that could cause actual events and results to differ materially from those discussed herein. Without limiting the generality of
Slide 10: Definitions of Non-GAAP Measures
10 Definitions of Non-GAAP Measures We believe that investors’ understanding of UPC Insurance’s performance is enhanced by our disclosure of the following non-GAAP measures. Our methods for calculating these measures may differ from those used by other companies and therefore comparability may be li
Slide 11: UPC Insurance: Keep the Promise
SS UPCZ® INSURANCE Keep the Promise
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