American Coastal Insurance Corporation · NASDAQ:ACIC
American Coastal Insurance — United Insurance Holdings — Q3 2019 Earnings Presentation
9 slides from American Coastal Insurance's earnings presentation, Oct 30, 2019
Slide 1: Investor Presentation 3rd Quarter 2019
Investor Presentation 3rd Quarter 2019 October 30, 2019 St. Petersburg, FL
Slide 2: Q3-2019 Executive Summary
Q3-2019 Executive Summary I. REVENUE HIGHLIGHTS • Gross Premiums Written of $317.2m: • Up +7.2% (+$21.2m) y/y • Commercial lines up +4.5% (+$2.5m) | Personal Lines +7.8% (+$18.7m) • Florida +11.1% (+$15.8m) | Non-Florida +9.8% (+$13.5m) • Gross Premiums Earned (GPE) of $344.7m: • Up +13.4% (+$40.7m)
Slide 3: Q3-2019 vs. Prior Year: Solid Improvement in Underlying Loss & Combined Ratios
Q3-2019 vs. Prior Year Solid Improvement in Underlying Loss & Combined Ratios Y/Y $ in millions Q3-19 PY PY Var Gross Premiums Earned $ 344.7 $ 304.0 $ 40.7 Ceded Premiums Earned (151.8) (132.6) (19.1) $3.5m of variance due to Net Premiums Earned 192.9 171.3 21.6 unrealized gain on equities Investme
Slide 4: Premium Growth by Line/Region
Premium Growth by Line/Region All Regions and Lines Grew ~ 13% YTD as of 9/30/19 Personal Lines +11% Commercial Lines +18% 350,000 300,000 +9.4% 250,000 +7.2% 200,000 +15.3% 150,000 +12.5% 100,000 50,000 - Florida Gulf Northeast Southeast Commercial YTD 9/30/2019 YTD 9/30/2018 4
Slide 5: Rate Continues to Flow through our Book
Rate Continues to Flow through our Book Most Recent Rate Increases: FL FSIC HO3 + 13.7% FL UPC HO3 + 11.4% NY UPC HO3 + 9.4% TX UPC HO3 + 13.9% MA UPC HO3 + 5.1% NJ UPC HO3 + 5.7% RI UPC HO3 + 12.0% • These states account for over 75% of our personal lines premium-in-force • Retention has remained s
Slide 6: Q3-2019 Catastrophe Losses
Q3-2019 Catastrophe Losses 3 New Named Windstorm Events Had a Significant Impact To the Quarter $ in millions except per share amounts Hurricane Dorian (FL, GA, NC, SC) $30.0 Tropical Storm Imelda (TX) $ 5.1 Tropical Storm Barry (LA) $ 4.5 Gross Named Windstorm Losses $39.6 Ceded Named Windstorm Los
Slide 7: Prior Year Development
Prior Year Development CAT & Florida Personal Lines Continued to Drive Reserve Re-estimation Q1 Q2 Q3 Total CAT 6,264 8,654 8,410 23,327 CAT Losses Represent ~70% of NonCAT (629) 6,681 3,839 9,891 Prior Year Development (PYD) Personal Lines 8,242 13,281 11,020 32,543 86% from Florida Commercial (2,6
Slide 8: Cautionary Statements
Cautionary Statements This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward looking statements include expectations regarding our diversification, growth opportunities, retention rates, liquidity, investment
Slide 9: UPC Insurance: Keep the Promises
UPCZS INSURANCE Keep the Promises
United Insurance Holdings — Q3 2019 Earnings Presentation on 6ix