United Insurance Holdings Corp. (UIHC) Announces Name and Ticker Change to American Coastal Insurance Corporation (ACIC)

Rhea-AI Summary

United Insurance Holdings Corp. changes its corporate name to American Coastal Insurance Corporation and will begin trading on NASDAQ under the ticker symbol ACIC on August 15, 2023. The rebranding reflects the company's expanded emphasis on its commercial residential business. The CEO is confident in the company's long-term outlook and ability to continue profitable operations. The company will release its second quarter 2023 financial results on August 10, 2023.

Positive

• United Insurance Holdings Corp. changes its name to American Coastal Insurance Corporation and will begin trading on NASDAQ under the ticker symbol ACIC on August 15, 2023.
• The rebranding reflects the company's expanded emphasis on its commercial residential business.
• The CEO is confident in the company's long-term outlook and ability to continue profitable operations.

Negative

• None.

Schedules Second Quarter 2023 Financial Results and Conference Call

ST. PETERSBURG, Fla.--(BUSINESS WIRE)-- United Insurance Holdings Corp. (Nasdaq: UIHC), the insurance holding company of American Coastal Insurance Company (“AmCoastal”), announced today that it has changed its corporate name to ‘American Coastal Insurance Corporation’ (“the Company” “American Coastal” or “ACIC”). The Company will begin trading on NASDAQ under the ticker symbol ‘ACIC’, prior to market open on August 15, 2023.

The new ticker replaces the current ticker symbol ‘UIHC,’ which has been used since the Company’s formation and initial public offering on the over-the-counter (OTC) market in 2007, and subsequent listing on The Nasdaq Capital Market in 2012. The rebranding follows the expanded emphasis on AmCoastal’s commercial residential business and marks the evolution of its business.

"This year has been transformational for our company, employees and the customers we serve,” said Mr. R. Daniel Peed, Chairman of the Board and Chief Executive Officer. “The rebranding honors the heritage and credibility of AmCoastal throughout our overall mission and values. AmCoastal is a leader in the industry with the number one market share in Florida commercial residential condominium associations. With our deep underwriting experience and expertise in this niche market, we believe we are well-positioned to drive continued profitable operations.”

He continued, “We are excited to continue the momentum generated by AmCoastal’s year-to-date performance. Our goal is to create a cohesive identity across our companies that represents and honors our hard work and resiliency. We are confident in our long-term outlook and our ability to continue the profitability we have seen since the inception of AmCoastal in 2007.”

Second Quarter 2023 Conference Call Details:
American Coastal Insurance Corporation will release its financial results for second quarter ended June 30, 2023, on Thursday, August 10, 2023, after the close of the market, and will conduct its quarterly conference call at 5:00 p.m. ET. Interested parties are invited to participate in the conference call and should dial-in 10 minutes before the conference call is scheduled to begin.

Participant Dial-In Numbers:
United States:			877-445-9755
International:			201-493-6744

To listen to the live webcast, please visit the Company website and click on the webcast link at the top of the page or click here. The webcast will be archived and accessible for approximately 30 days following the call.

About American Coastal Insurance Corporation:
American Coastal Insurance Corporation (amcoastal.com) is the holding company of the insurance carrier, American Coastal Insurance Company, which was founded in 2007 for the purpose of insuring Condominium and Homeowner Association properties, and apartments in the state of Florida. American Coastal Insurance Company has an exclusive partnership for distribution of Condominium Association properties in the state of Florida with AmRisc Group (amriscgroup.com), a subsidiary of Truist Insurance Holdings, one of the largest Managing General Agents in the country specializing in hurricane-exposed properties. American Coastal Insurance Company has earned a Financial Stability Rating of ‘A, Exceptional’ from Demotech.

American Coastal Insurance Corporation’s portfolio of investments also includes Interboro Insurance Company, a New York domiciled personal lines carrier founded in 1914.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230727933626/en/

Alexander Baty

Director of Financial Reporting, American Coastal Insurance Corp.

abaty@amcoastal.com

(727) 895-7737

Karin Daly

Investor Relations, Vice President, The Equity Group

kdaly@equityny.com

(212) 836-9623

Source: American Coastal Insurance Corporation

FAQ

When will American Coastal Insurance Corporation begin trading on NASDAQ?

American Coastal Insurance Corporation will begin trading on NASDAQ on August 15, 2023.

What does the rebranding reflect?

The rebranding reflects the company's expanded emphasis on its commercial residential business.

When will the company release its second quarter 2023 financial results?

The company will release its second quarter 2023 financial results on August 10, 2023.