D
AMERICAN COASTAL INS CO
Rating Date
December 2023
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Loss
Ratio
Total
Assets
Capital
Net
Premiums
Net
Income
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Major Rating Factors: Weak profitability index (1.4 on a scale of 0 to 10) with operating losses during 2019, 2020 and 2021. Average return on equity over the last five years has been poor at -1.3%. Weak overall results on stability tests (2.5) including weak results on operational trends and negative cash flow from operations for 2022. The largest net exposure for one risk is excessive at 5.2% of capital.
Other Rating Factors: Good long-term capitalization index (5.0) based on fair current risk adjusted capital (severe loss scenario), although results have slipped from the good range over the last two years. Fair reserve development (4.8) as reserves have generally been sufficient to cover claims. In 2020, the two year reserve development was 18% deficient. Good liquidity (5.7) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors: F - Negative cash flow. T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business: Other (100%)
Licensed in: FL
Principal Investments: Investment grade bonds (72.9%), common stock (6.4%), cash (5.5%), non investment grade bonds (0.2%), other (14.9%)
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Reserve to Surplus
1-Year Reserve Development
2-Year Reserve Development
Expense Ratio
Combined Ratio
Cash From Underwriting
Net Premium Growth
Investments in Affiliates
Corporate Info
Group Affiliation
Peed FLPI Ltd LLP
Investment Rating
Company Address
800 2nd Avenue South
ST. PETERSBURG, FL 33701
Phone Number
(414) 369-5033
NAIC Number
12968
Largest Affiliates
C
ST. PETERSBURG, FL - P&C
C
ST. PETERSBURG, FL - P&C
C
JERICHO, NY - P&C
Weiss Ratings