Atlas Crest Investment - Class A Stock Earnings Reports

American Coastal (ACIC) reported a strong Q1 2026 driven by disciplined underwriting and a robust reinsurance renewal. Key financials: net income $19.3 million, combined ratio 66% (underlying combined ratio 68.3%), book value per share $6.86 (up 5.4% YTD), and cash & investments $599.4 million after a $0.75/share special dividend. Management completed its June 1, 2026 core catastrophe reinsurance program, securing risk‑adjusted cost decreases, increasing exhaustion to >$1.6 billion (using Verisk hurricane model assumptions), converting lower layers to all‑perils, and adding more aggregate protection for multiple hurricane events. Premiums are being impacted by front‑end rate decreases, but policy count and exposure increased year‑over‑year and retention remains in target ranges (low‑to‑mid 80s sweet spot). E&S business is beginning to contribute (initial $6.2M written in Q1 via AmRisc participation; management expects ~ $70M written E&S in 2026 with roughly half earning this year), with more meaningful Skyway (fronted capacity) growth expected in 2027. Management estimates $150M–$200M of excess capital, and is considering uses including buybacks, special dividends, debt reduction, or investing in growth, but is pacing repurchases to preserve float and liquidity. Full‑year guidance remains unchanged, though Q2 premium seasonality (strongest quarter) will materially affect outcomes.