Investor Presentaiton
2Q-23 Detailed Results
Investment losses and higher catastrophe loss & reinsurance costs were overcome by top line growth.
$ in millions
Gross Premiums Earned
Q2-221 Change
Ceded Premiums Earned
Net Premiums Earned
Investment & Other Income
Unrealized G(L) on Equities
Total Revenue
Q2-23
$ 158.2
% Chg
I
1
YTD 6.30.23
Prior YTD Change
% Chg
$ 129.5
28.7
22.2%
$ 302.7
$ 252.2
50.5
20.0%
(75.0)
(65.0)
(10.0)
15.4% T
(132.2)
(129.9)
(2.2)
1.7%
83.2
64.5
18.7
29.0% I
170.5
122.3
48.2
39.4%
(4.0)
1.8
(5.8)
-322.2%
(1.5)
3.2
(4.7)
-146.9%
0.1
(2.4)
2.5
-104.2%
0.6
(3.2)
3.8
-118.8%
79.3
63.9
15.4
24.1%
169.6
122.3
47.3
38.7%
Underlying Loss & LAE
19.5
19.9
(0.4)
-2.0%
36.5
43.9
(7.4)
-16.9%
Current year CAT Loss & LAE
6.5
(2.1)
8.7
-414.3%
9.2
3.4
5.8
170.6%
Prior year development (F)/U
(5.2)
(3.8)
(1.4)
36.8%
(8.3)
(6.9)
(1.5)
21.7%
Net Loss & LAE
20.9
14.0
6.9
49.3%
37.3
40.3
(3.0)
-7.4%
Operating Expense
35.4
35.6
(0.2)
-0.6%
73.3
67.7
5.8
8.6%
56.3
49.6
6.7
13.5%
110.7
108.0
2.5
2.3%
Total Expenses (excluding interest)
Earnings from continuing operations before tax
Net income from continuing operations
SS
$
21.1
$
$
20.4
$
12.2 $
(13.3) $
8.9
33.7
70.1%
253.4%
est es
54.9
S
$
11.2 $
43.7
50.7
$
(13.6) $
64.3
390.2%
472.8%
Net Loss Ratio
25.1%
21.7%
3.4 pts
21.9%
33.0%
-11.1 pts
Net Expense Ratio
42.6%
55.2% -12.6 pts
43.0%
55.3%
-12.3 pts
Combined Ratio
67.7%
76.9% -9.2 pts
64.9%
88.3%
-23.4 pts
Less: Current year catastrophe loss & LAE
7.9%
-3.3%
11.2 pts
5.4%
2.8%
2.6 pts
Less: Prior year reserve development (F)/U
Underlying Combined Ratio
-6.2%
-6.0%
-0.2 pts
-4.9%
-5.7%
0.8 pts
66.0%
86.2% -20.2 pts
64.4%
91.2%
-26.8 pts
1 2022 amounts recast for discontinued operations.
American Coastal
A
INSURANCE CORPORATION™View entire presentation