American Coastal Insurance Corporation (NASDAQ:ACIC) Q4 2023 Earnings Conference Call February 29, 2024 5:00 PM ET

Company Participants

Karin Daly - IR

Daniel Peed - Chairman of the Board and CEO

Bennett Bradford Martz - President

Conference Call Participants

Greg Peters - Raymond James

Aryan Gupta - Eagle Eye Asset Private Limited

Bill Dezellem - Tieton Capital

Operator

Hello, and welcome to the American Coastal Insurance Corporation's 2023 Fourth Quarter and Full Year Earnings Conference Call and Webcast. [Operator Instructions] As a reminder, this conference is being recorded.

It's now my pleasure to turn the call over to Karin Daly, Vice President of The Equity Group and American Coastal's Investor Relations Representative. Please go ahead, Karin.

Karin Daly

Thank you, Kevin. And good afternoon, everyone. American Coastal Insurance Corporation has also made this broadcast available on its website at www.amcoastal.com. A replay will be available for approximately 30 days following the call. Additionally, you can find copies of the latest earnings release, and presentations in the Investors section of the company's website.

Speaking today will be Chairman of the Board and Chief Executive Officer, R. Daniel Peed and President, Bennett Bradford Martz. On behalf of the company, I'd like to note that statements made during this call that are not historical facts are forward-looking statements. The company believes these statements are based on reasonable estimates, assumptions and plans.

However, if these estimates, assumptions or plans underlying the forward-looking statements prove inaccurate or if other risk or uncertainties arise, actual results could differ materially from those expressed in or implied by the forward-looking statements. Factors that could cause actual results to differ materially may be found in the company's filings with the U.S. Securities and Exchange Commission in the Risk Factor section of their most recent annual report on Form 10-K. Forward-looking statements speak only as of the date on which they are made and except as required by applicable law, the company undertakes no obligation to update or revise any forward-looking statements.

With that, it's my pleasure to turn the call over to Mr. Daniel Peed. Dan, you may begin.

Daniel Peed

Thanks, Karin. Hello, and thank you for joining us on our fourth quarter earnings call. I'm Dan Peed, Chairman and CEO of American Coastal Insurance Corporation.

I will provide an overview of results from the fourth quarter and year to date and then turn it over to Brad Martz, who will expand on the financial results. Our core income for the fourth quarter is $17.7 million, which annualized as a 100.6% core return on equity.