AMERICAN COASTAL INSURANCE (ACIC) 10-Q 12 Nov 24 2024 Q3 Quarterly report Financial data

Document & Entity Information

Document & Entity Information - shares	9 Months Ended
	Sep. 30, 2024	Nov. 06, 2024
Document and Entity Information [Abstract]
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	570 Carillon Parkway, Suite 100
Document Type	10-Q
Document Quarterly Report	true
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Trading Symbol	ACIC
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Security Exchange Name	NASDAQ
Registrant Name	American Coastal Insurance Corporation
City Area Code	727-
Local Phone Number	633-0851
Central Index Key	0001401521
Filer Category	Accelerated Filer
Common Stock, Shares, Outstanding		48,204,962
Document Transition Report	false
Entity File Number	001-35761
Entity Emerging Growth Company	false
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Small Business	true
Entity Current Reporting Status	Yes
Entity Address, City or Town	St. Petersburg,
Entity Address, State or Province	FL
Entity Tax Identification Number	75-3241967
Entity Address, Postal Zip Code	33716
Document Period End Date	Sep. 30, 2024

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Investments, at fair value:
Fixed maturities	$ 278,373	$ 138,387
Equity Securities, FV-NI	25,950	0
Other investments	26,392	16,487
Total investments	330,715	154,874
Cash and Cash Equivalents	183,147	138,930
Restricted Cash	57,251	18,070
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	240,398	157,000
Accrued Investment Income	3,359	1,767
Property and equipment, net	7,300	3,658
Premiums receivable, net	18,630	45,924
Reinsurance Recoverable for Paid and Unpaid Claims and Claims Adjustments	147,065	340,820
Ceded uneared premiums	199,426	155,301
Goodwill	59,476	59,476
Deferred policy acquisition costs	43,166	21,149
Intangible Assets, Net (Excluding Goodwill)	6,518	8,548
Other assets, net	13,284	36,718
Total Assets	1,143,874	1,062,378
Liabilities
Unpaid losses and loss adjustment expenses	173,322	347,738
Unearned Premiums	307,325	276,157
Reinsurance Payable	122,597	0
Payments outstanding	4,479	706
Accounts Payable	75,525	74,783
Operating Lease, Liability	23	739
Other Liabilities	2,960	672
Notes Payable	148,937	148,688
Total Liabilities	884,292	893,613
Commitments and Contingencies
Stockholders' Equity
Preferred Stock, $0.0001 par value; 1,000,000 shares authorized	0	0
Common Stock, $0.0001 par value; 100,000,000 shares authorized	5	5
Additional Paid in Capital	437,241	423,717
Treasury shares, at cost; 212,083 shares	(431)	(431)
Accumulated Other Comprehensive Income (Loss), Net of Tax	(11,617)	(17,137)
Retained Earnings	(165,616)	(237,389)
Total Stockholders' Equity	259,582	168,765
Total Liabilities and Stockholders' Equity	1,143,874	1,062,378
Disposal Group, Including Discontinued Operation, Assets	74,537	77,143
Disposal Group, Including Discontinued Operation, Liabilities	$ 49,124	$ 44,130

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0	$ 0
Preferred stock, authorized shares	1,000,000	1,000,000
Preferred stock, issued shares	0	0
Preferred stock, outstanding shares	0	0
Common stock, par value	$ 0	$ 0.0001
Common stock, authorized shares	100,000,000	100,000,000
Common stock, issued shares	48,417,045	46,989,089
Common Stock, Shares, Outstanding	48,204,962	46,777,006
Treasury stock	212,000	212,083
Financing Receivable, Allowance for Credit Loss	$ 0	$ 0
Premium Receivable, Allowance for Credit Loss	17	49
Reinsurance Recoverable, Allowance for Credit Loss	39	97
Fixed Maturities
Schedule of Available-for-sale Securities
Fixed maturities, cost	289,429	155,686
Other Long-term Investments
Schedule of Available-for-sale Securities
Fixed maturities, cost	$ 26,293	$ 16,118

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
REVENUE:
Gain (Loss) on Investments	$ (3)	$ 4	$ (124)	$ (6,787)
Investment Income, Net	6,110	2,087	15,474	6,225
Premiums Earned, Net, Property and Casualty	74,486	50,264	200,498	212,919
Ceded Premiums Earned	85,692	107,513	275,400	232,670
Gross premiums earned	160,178	157,777	475,898	445,589
Gross premiums written	93,016	93,986	507,066	507,449
Unearned premiums	67,162	63,791	(31,168)	(61,860)
Change in gross unearned premiums	(67,162)	(63,791)	31,168	61,860
Gross premiums earned	160,178	157,777	475,898	445,589
Ceded premiums earned	(85,692)	(107,513)	(275,400)	(232,670)
Net premiums earned	74,486	50,264	200,498	212,919
Total revenue	(82,136)	(52,532)	(217,390)	(213,149)
EXPENSES:
Costs and Expenses	46,072	34,238	126,692	138,420
General and administrative expenses	8,174	6,011	26,987	21,036
Operating Costs and Expenses	2,115	2,081	6,492	6,962
Policy acquisition costs	20,942	13,606	44,476	62,298
Policyholder Benefits and Claims Incurred, Net	11,774	9,822	39,525	39,968
Interest expense	3,067	2,718	9,212	8,156
Interest expense	(3,067)	(2,718)	(9,212)	(8,156)
Total expenses	46,072	34,238	126,692	138,420
Income (loss) before other income	36,064	18,294	90,698	74,729
Other income	453	(237)	2,074	1,157
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	36,517	18,057	92,772	75,886
Provision for income taxes	8,848	3,042	22,321	8,062
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent	27,669	15,015	70,451	67,824
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax	450	(4,447)	321	227,803
Net income (loss)	28,119	10,568	70,772	295,627
OTHER COMPREHENSIVE INCOME:
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	35,651	7,805	78,300	301,735
Reclassification adjustment for net realized investment (gains) losses	(3)	2	(124)	(6,806)
Income tax benefit (expense) related to items of other comprehensive income	0	0	0	0
Change in net unrealized gains (losses) on investments	7,529	(2,761)	7,404	(698)
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	$ 35,651	$ 7,805	$ 78,300	$ 301,735
Weighted-average shares outstanding
Weighted-average shares outstanding	48,066,358	43,301,388	47,742,744	43,220,084
Weighted-average diluted shares	49,521,246	44,142,693	49,255,071	43,888,665
Income (Loss) from Continuing Operations, Per Basic Share	$ 0.58	$ 0.34	$ 1.48	$ 1.57
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share	0.01	(0.10)	0.01	5.27
Earnings Per Share
Diluted earnings per share	0.57	0.24	1.44	6.73
Basic earnings per share	0.59	0.24	1.49	6.84
Income (Loss) from Continuing Operations, Per Diluted Share	0.56	0.34	1.43	1.54
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share	0.01	(0.10)	0.01	5.19
Diluted earnings per share	$ 0.57	$ 0.24	$ 1.44	$ 6.73
Equity Securities, FV-NI, Unrealized Gain (Loss)	$ 1,543	$ 177	$ 1,542	$ 792

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Treasury Stock, Common	Comprehensive Income	Retained Earnings
Common Stock, Shares, Outstanding		43,280,173
Stockholders' Equity Attributable to Parent	$ (182,039)	$ 4	$ 395,631	$ (431)	$ (30,947)	$ (546,296)
Net Income (Loss), Parent	295,627					295,627
Other Comprehensive Income (Loss), Parent	6,108				6,108
Impact of Deconsolidation on OCI - Discontinued Operations.					1,004	(1,004)
Shares Issued, Shares, Share-based Payment Arrangement, before Forfeiture		126,313
Stock Issued During Period, Value, Restricted Stock Award, Gross	915		915
Stock Issued During Period, Shares, New Issues		5,200
Proceeds from Issuance of Common Stock	38		38
Common Stock, Shares, Outstanding		43,406,486
Stockholders' Equity Attributable to Parent	112,396	$ 4	396,136	(431)	(21,072)	(262,241)
Net Income (Loss), Parent	10,568					10,568
Other Comprehensive Income (Loss), Parent	(2,763)				(2,763)
Shares Issued, Shares, Share-based Payment Arrangement, before Forfeiture		0
Stock Issued During Period, Value, Restricted Stock Award, Gross	410		410
Stock Issued During Period, Shares, New Issues		5,200
Proceeds from Issuance of Common Stock	38		38
Common Stock, Shares, Outstanding		43,411,686
Stockholders' Equity Attributable to Parent	$ 120,649	$ 4	396,584	(431)	(23,835)	(251,673)
Common Stock, Shares, Outstanding	46,777,006	46,777,006
Stockholders' Equity Attributable to Parent	$ 168,765	$ 5	423,717	(431)	(17,137)	(237,389)
Net Income (Loss), Parent	70,772					70,772
Other Comprehensive Income (Loss), Parent	7,528				7,528
Impact of Deconsolidation on OCI - Discontinued Operations.	(1,007)				(2,008)	1,001
Shares Issued, Shares, Share-based Payment Arrangement, before Forfeiture		332,956
Stock Issued During Period, Value, Restricted Stock Award, Gross	1,903		1,903
Stock Issued During Period, Shares, New Issues		1,095,000
Proceeds from Issuance of Common Stock	11,621		11,621
Common Stock, Shares, Outstanding		48,132,370
Stockholders' Equity Attributable to Parent	223,073	$ 5	436,383	(431)	(19,149)	(193,735)
Net Income (Loss), Parent	28,119					28,119
Other Comprehensive Income (Loss), Parent	7,532				7,532
Shares Issued, Shares, Share-based Payment Arrangement, before Forfeiture		12,592
Stock Issued During Period, Value, Restricted Stock Award, Gross	694		694
Stock Issued During Period, Shares, New Issues		60,000
Proceeds from Issuance of Common Stock	$ 164		164
Common Stock, Shares, Outstanding	48,204,962	48,204,962
Stockholders' Equity Attributable to Parent	$ 259,582	$ 5	$ 437,241	$ (431)	$ (11,617)	$ (165,616)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Supplemental Cash Flows Information
Proceeds from Income Tax Refunds	$ (6,564)	$ (10,591)
Interest Paid	5,438	5,438
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect	90,624	(153,123)
Cash, Cash Equivalents, Restricted Cash at end of period	240,398
Cash, Cash Equivalents, Restricted Cash at beginning of period	157,000
FINANCING ACTIVITIES
Proceeds from Issuance of Common Stock	11,621	38
Net Cash Provided by (Used in) Financing Activities	11,621	38
INVESTING ACTIVITIES
Proceeds from Divestiture of Businesses, Net of Cash Divested	0	(232,582)
Proceeds from sales and maturities of fixed maturities	12,687	234,403
Proceeds from Sale of Equity Securities, FV-NI	0	40,436
Proceeds from Sale and Maturity of Other Investments	12,111	2,397
Payments to Acquire Fixed Maturities, Available-for-sale	(140,667)	(11,786)
Payments to Acquire Equity Securities, FV-NI	(23,995)	(79)
Payments to Acquire Other Investments	(23,029)	(1,494)
Proceeds from Sale of Property, Plant, and Equipment	0	629
Cost of property, equipment and capitalized software acquired	(11)	(196)
Net cash provided by (used in) investing activities	(162,904)	31,728
Changes in operating assets and liabilities:
Accrued investment income	(1,579)	647
Premiums receivable	26,425	40,851
Reinsurance recoverable on paid and unpaid losses	193,719	633,895
Ceded unearned premiums	(45,792)	(103,504)
Deferred policy acquisition costs, net	(22,067)	30,170
Other assets	26,368	(53,938)
Unpaid losses and loss adjustment expenses	(175,543)	(583,101)
Unearned premiums	35,857	(121,742)
Reinsurance payable	124,656	(43,321)
Payments outstanding	4,707	(59,183)
Accounts Payable	999	13,422
Change in Operating Lease Liability	(739)	(748)
Other liabilities	(248)	(20,322)
Net cash provided by operating activities	241,907	(184,889)
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	6,614	6,391
Bond amortization and accretion	553	759
Net realized gains (losses)	190	5,464
Unrealized Gain (Loss) on Investments	(1,542)	(2,871)
Provision for uncollectable premiums/over and short	32	11
Reinsurance Recoverable Change in Credit Loss Allowance	58	226
Deferred income taxes, net	(2,558)	13,344
Stock based compensation	1,903	915
Gain on sale of building	0	(588)
Gain (Loss) on Disposition of Assets	129	1,147
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax	(1,007)	(238,440)
Net Income (Loss), Parent	70,772	295,627
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	240,398
Continuing Operations
Supplemental Cash Flows Information
Cash, Cash Equivalents, Restricted Cash at end of period	262,456	130,488
Cash, Cash Equivalents, Restricted Cash at beginning of period	171,832	283,611
Adjustments to reconcile net income to net cash provided by operating activities
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$ 262,456	$ 130,488

Organization, Consolidation and

Organization, Consolidation and Presentation	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure	ORGANIZATION, CONSOLIDATION AND PRESENTATION (a) Business American Coastal Insurance Corporation (referred to in this document as we, our, us, the Company or ACIC) is a property and casualty insurance holding company that sources, writes and services residential commercial and personal property and casualty insurance policies using a network of agents and two wholly-owned insurance subsidiaries. On July 10, 2023, we changed our corporate name from United Insurance Holdings Corp. to American Coastal Insurance Corporation. Our two insurance subsidiaries are Interboro Insurance Company (IIC), acquired via acquisition on April 29, 2016; and American Coastal Insurance Company (AmCoastal), acquired via merger on April 3, 2017. Our other subsidiaries include United Insurance Management, L.C. (UIM), a managing general agent; Skyway Claims Services, LLC (SCS), which provides claims adjusting services to our insurance companies; AmCo Holding Company, LLC (AmCo) which is a holding company subsidiary that consolidates its respective insurance company; BlueLine Cayman Holdings (BlueLine), which reinsures portfolios of excess and surplus policies; UPC Re, which provides a portion of the reinsurance protection purchased by our insurance subsidiaries when needed; Skyway Reinsurance Services, LLC, which provides reinsurance brokerage services for our insurance companies; Skyway Legal Services, LLC (SLS), which provides claims litigation services to our insurance companies; and Skyway Underwriters, LLC, a managing general agent that provides technological and distribution services to our insurance companies. On May 9, 2024, the Company entered into a Stock Purchase Agreement (the "Sale Agreement") with Forza Insurance Holdings, LLC (Forza) in which ACIC will sell and Forza will acquire 100% of the issued and outstanding stock of IIC. The aggregate purchase price for the shares will be equal to IIC's GAAP shareholders' equity on the closing date. Closing is subject to customary closing conditions, including New York Department of Financial Services (NYDFS) approval of Forza's application for acquisition of control, and NYDFS approval of a new rate and form filing. As a result, IIC results of operations and assets and liabilities are captured within discontinued operations and are discussed in Note 3 of the Notes to Unaudited Condensed Consolidated Financial Statements below. On February 27, 2023, our former insurance subsidiary, United Property & Casualty Insurance Company (UPC) was placed into receivership with the Florida Department of Financial Services (DFS), which divested our ownership of UPC. The events leading to receivership and results of this subsidiary, now included within discontinued operations, are discussed in Note 3 below. Our primary products are commercial and homeowners' residential property insurance. We currently offer commercial residential insurance in Florida and personal residential insurance in New York. As a result of the Sale Agreement described above and resulting in classification of IIC as discontinued operations, the remaining activity captured within continuing operations supports only our commercial residential insurance offerings. Given this fact pattern, as of September 30, 2024, we conduct our operations under one reportable segment. Our chief operating decision maker is our President. (b) Consolidation and Presentation We prepare our unaudited condensed consolidated interim financial statements in conformity with U.S. generally accepted accounting principles (GAAP). We have condensed or omitted certain information and footnote disclosures normally included in the annual consolidated financial statements presented in accordance with GAAP. In management's opinion, the accompanying unaudited condensed consolidated financial statements reflect all adjustments, including normal recurring items, considered necessary for a fair presentation of interim periods. We include all of our subsidiaries in our consolidated financial statements, eliminating intercompany balances and transactions during consolidation. As described in Note 3 , our subsidiary, IIC, and our former subsidiary, UPC, and activities related directly to supporting the business conducted by UPC qualified as discontinued operations. Our unaudited condensed consolidated interim financial statements and footnotes should be read in conjunction with our consolidated financial statements and footnotes in our Annual Report on Form 10-K for the year ended December 31, 2023. While preparing our unaudited condensed consolidated financial statements, we make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements, as well as reported amounts of revenues and expenses during the reporting period. Accordingly, actual results could differ from those estimates. Reported amounts that require us to make extensive use of estimates include our reserves for unpaid losses and loss adjustment expenses, investments and goodwill. Except for the captions on our Unaudited Condensed Consolidated Balance Sheets and Unaudited Condensed Consolidated Statements of Comprehensive Income, we generally use the term loss(es) to collectively refer to both loss and loss adjustment expenses. Our results of operations and our cash flows as of the end of the interim periods reported herein do not necessarily indicate our results for the remainder of the year or for any other future period.

Significant Accounting Policies

Significant Accounting Policies Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Significant Accounting Policies	SIGNIFICANT ACCOUNTING POLICIES (a) Changes to Significant Accounting Policies As described in Note 1 , during the second quarter of 2024, the Company entered into the Sale Agreement with Forza in which ACIC will sell and Forza will acquire 100% of the issued and outstanding stock of IIC. The activities related directly to supporting the business conducted by IIC were evaluated for qualification as discontinued operations. The results of operations of business are reported as discontinued operations when the disposal represents a strategic shift that will have a major effect on the entity's operations and financial results. When a business is identified for discontinued operations reporting: • Results for prior periods are retroactively reclassified as discontinued operations; • Results of operations are reported in a single line, net of tax, in the Unaudited Condensed Consolidated Statements of Comprehensive Income; and • Assets and liabilities are reported as held for disposal in the Unaudited Condensed Consolidated Balance Sheets. Additional details by major classification of operating results and financial position are included in Note 3 . There have been no other changes to our significant accounting policies as reported in our Annual Report on Form 10-K for the year ended December 31, 2023. (b) Pending Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (FASB) issued ASU No. 2023-07, Segment Reporting (Topic 280) Improvements to Reportable Segments Disclosures. This update requires the disclosure of significant segment expenses that are part of an entity’s segment measure of profit or loss and regularly provided to the chief operating decision maker. In addition, it adds or makes clarifications to other segment-related disclosures, such as clarifying that the disclosure requirements in ASC 280 are required for entities with a single reportable segment and that an entity may disclose multiple measures of segment profit and loss. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 and interim periods beginning after December 15, 2024, with early adoption permitted. We do not intend to elect to early adopt and are assessing the impact of adopting this new accounting standard on our consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740) Improvements to Income Tax Disclosures. This update amends the Codification to enhance the transparency and decision usefulness of income tax disclosures. This ASU requires additional disaggregation of the reconciliation between the statutory and effective tax rate for an entity and of income taxes paid, both of which are disclosures required by current GAAP. The amendments improve the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for annual periods beginning after December 15, 2024, with early adoption permitted. We do not intend to elect to early adopt and are assessing the impact of adopting this new accounting standard on our consolidated financial statements and related disclosures.

Discontinued Operations and Dis

Discontinued Operations and Disposal Groups	9 Months Ended
	Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Income Statement Disclosure	3) DISCONTINUED OPERATIONS On May 9, 2024, the Company entered into the Sale Agreement with Forza in which ACIC will sell and Forza will acquire 100% of the issued and outstanding stock of IIC. The aggregate purchase price for the shares will be equal to IIC's GAAP shareholders' equity on the closing date. Closing is subject to customary closing conditions, including NYDFS approval of Forza's application for acquisition of control, and NYDFS approval of a new rate and form filing. The results from IIC's discontinued operations for the three and nine months ended September 30, 2024 and 2023 are presented below. IIC Results from Discontinued Operations Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 REVENUE: Gross premiums written $ 12,402 $ 9,886 $ 31,261 $ 27,431 Change in gross unearned premiums (3,140) (1,903) (4,689) (4,585) Gross premiums earned 9,262 7,983 26,572 22,846 Ceded premiums earned (2,256) (2,439) (7,025) (9,464) Net premiums earned 7,006 5,544 19,547 13,382 Net investment income 539 622 1,563 1,765 Net realized investment losses (13) (2) (66) (19) Other revenue 18 18 49 52 Total revenue 7,550 6,182 21,093 15,180 EXPENSES: Losses and loss adjustment expenses 4,448 3,942 13,767 11,123 Policy acquisition costs 2,052 1,994 6,234 5,819 Operating expenses 328 718 1,091 1,279 General and administrative expenses 126 120 918 471 Total expenses 6,954 6,774 22,010 18,692 Income (loss) before other income 596 (592) (917) (3,512) Other income — 11 — 11 Income (loss) before income taxes 596 (581) (917) (3,501) Provision (benefit) for income taxes (1) 146 61 (1,238) (769) Income (loss) from discontinued operations, net of tax $ 450 $ (642) $ 321 $ (2,732) (1) 2024 year-to-date results include $1,007,000 in tax benefit related to discontinued operations outside of IIC stand-alone results. The major classes of IIC assets and liabilities as of September 30, 2024 and December 31, 2023 are presented below. IIC Major Classes of Assets and Liabilities to be Sold September 30, 2024 December 31, 2023 ASSETS Fixed maturities, available-for-sale $ 36,726 $ 42,316 Other investments 969 — Cash and cash equivalents 22,058 14,832 Accrued investment income 324 337 Premiums receivable, net 2,186 1,350 Reinsurance recoverable on paid and unpaid losses, net 260 282 Ceded unearned premiums 5,514 3,846 Deferred policy acquisition costs, net 3,942 3,892 Intangible assets, net 775 775 Other assets 1,783 1,418 Total assets $ 74,537 $ 69,048 LIABILITIES Unpaid losses and loss adjustment expenses $ 21,356 $ 22,483 Unearned premiums 21,589 16,900 Reinsurance payable on premiums 2,376 2,312 Payments outstanding 2,344 1,410 Accounts payable and accrued expenses 757 501 Operating lease liability 13 37 Other liabilities 689 487 Total Liabilities $ 49,124 $ 44,130 On August 25, 2022, we announced that our former subsidiary, UPC, had filed plans for withdrawal in the states of Florida, Louisiana, and Texas and intended to file a plan for withdrawal in the state of New York. All filed plans entailed non-renewing personal lines policies in these states. Additionally, we announced that Demotech, an insurance rating agency, notified UPC of its intent to withdraw UPC's Financial Stability Rating. On December 5, 2022, the Florida Office of Insurance Regulation issued Consent Order No. 303643-22- CO that provided for the administrative supervision and approval of the plan of run-off for UPC (the "Consent Order"). The Consent Order provided formal approval of UPC's Plan of Run-Off (the "Plan") to facilitate a solvent wind down of its affairs in an orderly fashion. On February 10, 2023, we announced that a solvent run-off of UPC was unlikely, driven by Hurricane Ian losses which exhausted UPC's reinsurance coverage. On February 27, 2023, UPC was placed into receivership with the DFS which divested our ownership of UPC. In the first quarter of 2023, the assets and liabilities of UPC were divested. In addition, activities provided by our entities, SCS, SLS and UIM, related directly to supporting the business conducted by UPC were included. The remaining assets for the balance sheet as of December 31, 2023 are presented as held for disposal, and the results of UPC and activities related directly to supporting the business conducted by UPC are presented as discontinued operations for all periods. The results from UPC's discontinued operations, including the supporting activities provided by SCS, SLS and UIM for the three and nine months ended September 30, 2024 and 2023 are presented below. UPC Results from Discontinued Operations Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 REVENUE: Gross premiums written $ — $ — $ — $ (120,608) Change in gross unearned premiums — — — 198,154 Gross premiums earned — — — 77,546 Ceded premiums earned — — — (48,203) Net premiums earned — — — 29,343 Net investment income — — — 2,182 Net realized investment gains — — — 1,343 Net unrealized gains on equity securities — — — 2,080 Other revenue — — — 2,717 Total revenue — — — 37,665 EXPENSES: Losses and loss adjustment expenses — 851 — 37,268 Policy acquisition costs — — — (1,522) Operating expenses — 153 — 4,656 General and administrative expenses — 2,872 — 5,431 Interest expense — — — 22 Total expenses — 3,876 — 45,855 Loss before income taxes — (3,876) — (8,190) Provision (benefit) for income taxes — (71) — (285) Loss from discontinued operations, net of tax $ — $ (3,805) $ — $ (7,905) As of February 28, 2023, the Company completed the disposal of its former subsidiary, UPC. This divestiture resulted in a gain of $238,440,000 for the three months ended March 31, 2023. This gain was driven by the negative equity position of UPC prior to the divestiture. The major classes of assets and liabilities transferred as a result of the UPC transaction as of the date of transfer are presented below. UPC Major Classes of Assets and Liabilities Disposed Closing (1) ASSETS Fixed maturities, available-for-sale $ 1,380 Equity securities 272 Other investments 12,882 Cash and cash equivalents 224,824 Restricted cash 7,758 Accrued investment income 875 Premiums receivable, net 22,733 Reinsurance recoverable on paid and unpaid losses, net 548,929 Ceded unearned premiums 75,262 Deferred policy acquisition costs, net (89) Other assets 51,625 Total assets $ 946,451 LIABILITIES Unpaid losses and loss adjustment expenses $ 920,431 Unearned premiums 98,655 Reinsurance payable on premiums 12,612 Payments outstanding 144,238 Accounts payable and accrued expenses 1,361 Other liabilities 3,476 Notes payable, net 4,118 Total Liabilities $ 1,184,891 (1) The Company divested its ownership on February 27, 2023, the date the DFS was appointed as receiver of the entity. During the first quarter of 2024, due to a change in circumstances, the Company evaluated its capitalized software, previously classified as held for disposal at December 31, 2023. As a result of this evaluation, it was determined that the use case of the software by the Company has shifted. The Company has reclassified this asset and the associated amortization expense in the current period presented within this footnote in accordance with GAAP guidance, resulting in amortization expense for the capitalized software being captured in continuing operations prospectively. Property and equipment of $8,095,000 at December 31, 2023 was also reclassed at March 31, 2024, before current quarter amortization. In addition to the item related to capitalized software noted above, there were no non-cash transactions during the nine months ended September 30, 2024. During the three and nine months ended September 30, 2023, amortization attributed to discontinued operations totaled $2,141,000 and $2,680,000, respectively.

Investments

Investments	9 Months Ended
	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Investments	INVESTMENTS The following table details fixed-maturity available-for-sale securities, by major investment category, at September 30, 2024 and December 31, 2023: Cost or Adjusted/Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value September 30, 2024 U.S. government and agency securities $ 156,119 $ 1,602 $ — $ 157,721 Foreign government 438 1 — 439 States, municipalities and political subdivisions 18,386 9 1,597 16,798 Public utilities 5,061 4 301 4,764 Corporate securities 62,090 26 5,294 56,822 Mortgage-backed securities 37,199 — 4,709 32,490 Asset-backed securities 10,136 1 798 9,339 Total fixed maturities $ 289,429 $ 1,643 $ 12,699 $ 278,373 December 31, 2023 U.S. government and agency securities $ 25,995 $ 10 $ 3 $ 26,002 States, municipalities and political subdivisions 19,168 — 2,204 16,964 Public utilities 3,726 — 438 3,288 Corporate securities 55,230 9 7,213 48,026 Mortgage-backed securities 40,876 — 6,254 34,622 Asset-backed securities 10,691 — 1,206 9,485 Total fixed maturities $ 155,686 $ 19 $ 17,318 $ 138,387 Equity securities are summarized as follows: September 30, 2024 December 31, 2023 Estimated Fair Value Percent of Total Estimated Fair Value Percent of Total Mutual funds $ 25,950 100.0 % $ — — % When the Company sells investments, the Company calculates the gain or loss realized on the sale by comparing the sales price (fair value) to the cost or adjusted/amortized cost of the security sold. We determine the cost or adjusted/amortized cost of the security sold using the specific-identification method. The following table details our realized gains (losses) by major investment category for the three and nine months ended September 30, 2024 and 2023, respectively: 2024 2023 Gains Fair Value at Sale (1) Gains Fair Value at Sale (1) Three Months Ended September 30, Fixed maturities $ — $ 2,516 $ — $ 1,528 Short-term investments — 5,000 — — Other investments — — 3 1,151 Total realized gains — 7,516 3 2,679 Fixed maturities (3) 62 1 58 Total realized losses (3) 62 1 58 Net realized investment gains (losses) $ (3) $ 7,578 $ 4 $ 2,737 Nine Months Ended September 30, Fixed maturities $ — $ 5,593 $ 4 $ 5,200 Equity securities — — 165 5,786 Short-term investments — 5,000 — 126 Other investments — 2,000 3 1,151 Total realized gains — 12,593 172 12,263 Fixed maturities (124) 443 (6,294) 38,793 Equity securities — — (665) 10,372 Short-term investments — 4,999 — — Total realized losses (124) 5,442 (6,959) 49,165 Net realized investment gains (losses) $ (124) $ 18,035 $ (6,787) $ 61,428 (1) Fair value at sale includes maturities and paydowns executed at par value. The table below summarizes our fixed maturities at September 30, 2024 by contractual maturity period. Actual results may differ, as issuers may have the right to call or prepay obligations, with or without penalties, prior to the contractual maturities of those obligations. September 30, 2024 Cost or Amortized Cost Percent of Total Fair Value Percent of Total Due in one year or less $ 103,910 35.8 % $ 104,436 37.5 % Due after one year through five years 98,265 34.0 97,124 34.9 Due after five years through ten years 37,924 13.1 33,383 12.0 Due after ten years 1,995 0.7 1,601 0.6 Asset and mortgage-backed securities 47,335 16.4 41,829 15.0 Total $ 289,429 100.0 % $ 278,373 100.0 % The following table summarizes net investment income by major investment category: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Fixed maturities $ 2,513 $ 691 $ 4,499 $ 2,352 Equity securities 120 — 185 81 Cash and cash equivalents 3,236 1,473 10,332 4,055 Other investments 353 (33) 648 (111) Investment income 6,222 2,131 15,664 6,377 Investment expenses (112) (44) (190) (152) Net investment income $ 6,110 $ 2,087 $ 15,474 $ 6,225 Portfolio Monitoring We have a quarterly portfolio monitoring process to identify and evaluate each fixed-income security whose carrying value may be impaired as a result of a credit loss. For each fixed-income security in an unrealized loss position, if we determine that we intend to sell the security or that it is more likely than not that we will be required to sell the security before recovery of the cost or amortized cost basis for reasons such as liquidity needs, contractual or regulatory requirements, the security's entire decline in fair value is recorded in earnings. If management decides not to sell the fixed-income security and it is more likely than not that we will not be required to sell the fixed-income security before recovery of its amortized cost basis, we evaluate whether the decline in fair value has resulted from credit losses or other factors. This is typically indicated by a change in the rating of the security assigned by a rating agency, and any adverse conditions specifically related to the security or industry, among other factors. If the assessment indicates that a credit loss may exist, the present value of cash flows expected to be collected from the security is compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for credit losses will be recorded in earnings. Credit loss is limited to the difference between a security's amortized cost basis and its fair value. Any additional impairment not recorded through an allowance for credit losses is recognized in other comprehensive loss. During the nine months ended September 30, 2024, we determined that none of our fixed-income securities shown in the table below that are in an unrealized loss position have declines in fair value that are reflected as a result of credit losses. Therefore, no credit loss allowance was recorded at September 30, 2024. The issuers of our debt security investments continue to make interest payments on a timely basis. We do not intend to sell, nor is it likely that we would be required to sell the debt securities before we recover our amortized cost basis. Equity securities are reported at fair value with changes in fair value recognized in the valuation of equity investments. The following table presents an aging of our unrealized investment losses by investment class: Less Than Twelve Months Twelve Months or More Number of Securities (1) Gross Unrealized Losses Fair Value Number of Securities (1) Gross Unrealized Losses Fair Value September 30, 2024 U.S. government and agency securities — $ — $ — — $ — $ — States, municipalities and political subdivisions — — — 28 1,597 16,277 Public utilities 2 5 529 6 296 3,392 Corporate securities 19 41 7,149 81 5,253 47,129 Mortgage-backed securities 1 1 259 63 4,708 32,231 Asset-backed securities 1 — 126 23 798 8,462 Total fixed maturities 23 $ 47 $ 8,063 201 $ 12,652 $ 107,491 December 31, 2023 U.S. government and agency securities 9 $ 3 $ 19,943 — $ — $ — States, municipalities and political subdivisions 1 7 507 29 2,197 16,457 Public utilities — — — 6 438 3,288 Corporate securities 1 6 511 85 7,207 46,708 Mortgage-backed securities 1 5 269 69 6,249 34,353 Asset-backed securities 2 3 616 24 1,203 8,869 Total fixed maturities 14 $ 24 $ 21,846 213 $ 17,294 $ 109,675 (1) This amount represents the actual number of discrete securities, not the number of shares or units of those securities. The numbers are not presented in thousands. Fair Value Measurement Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The hierarchy for inputs used in determining fair value maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that observable inputs be used when available. Assets and liabilities recorded on our Unaudited Condensed Consolidated Balance Sheets at fair value are categorized in the fair value hierarchy based on the observability of inputs to the valuation techniques as follows: Level 1: Assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market that we can access. Level 2: Assets and liabilities whose values are based on the following: (a) Quoted prices for similar assets or liabilities in active markets; (b) Quoted prices for identical or similar assets or liabilities in markets that are not active; or (c) Valuation models whose inputs are observable, directly or indirectly, for substantially the full term of the asset or liability. Level 3: Assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. Unobservable inputs reflect our estimates of the assumptions that market participants would use in valuing the assets and liabilities. We estimate the fair value of our investments using the closing prices on the last business day of the reporting period, obtained from active markets such as the NYSE, Nasdaq and NYSE American. For securities for which quoted prices in active markets are unavailable, we use a third-party pricing service that utilizes quoted prices in active markets for similar instruments, benchmark interest rates, broker quotes and other relevant inputs to estimate the fair value of those securities for which quoted prices are unavailable. Our estimates of fair value reflect the interest rate environment that existed as of the close of business on September 30, 2024 and December 31, 2023. Changes in interest rates subsequent to September 30, 2024 may affect the fair value of our investments. The fair value of our fixed maturities is initially calculated by a third-party pricing service. Valuation service providers typically obtain data about market transactions and other key valuation model inputs from multiple sources and, through the use of proprietary models, produce valuation information in the form of a single fair value for individual fixed-income and other securities for which a fair value has been requested. The inputs used by the valuation service providers include, but are not limited to, market prices from recently completed transactions and transactions of comparable securities, interest rate yield curves, credit spreads, liquidity spreads, currency rates and other information, as applicable. Credit and liquidity spreads are typically implied from completed transactions and transactions of comparable securities. Valuation service providers also use proprietary discounted cash flow models that are widely accepted in the financial services industry and similar to those used by other market participants to value the same financial information. The valuation models take into account, among other things, market observable information as of the measurement date, as described above, as well as the specific attributes of the security being valued, including its term, interest rate, credit rating, industry sector and, where applicable, collateral quality and other issue or issuer specific information. Executing valuation models effectively requires seasoned professional judgment and experience. Any change in the estimated fair value of our fixed-income securities would impact the amount of unrealized gain or loss we have recorded, which could change the amount we have recorded for our investments and other comprehensive loss on our Unaudited Condensed Consolidated Balance Sheets as of September 30, 2024. The following table presents the fair value of our financial instruments measured on a recurring basis by level at September 30, 2024 and December 31, 2023, respectively: Total Level 1 Level 2 Level 3 September 30, 2024 U.S. government and agency securities $ 157,721 $ — $ 157,721 $ — Foreign government 439 — 439 — States, municipalities and political subdivisions 16,798 — 16,798 — Public utilities 4,764 — 4,764 — Corporate securities 56,822 — 56,822 — Mortgage-backed securities 32,490 — 32,490 — Asset-backed securities 9,339 — 9,339 — Total fixed maturities 278,373 — 278,373 — Mutual funds 25,950 25,950 — — Total equity securities 25,950 25,950 — — Other investments (1) 24,433 — 24,433 — Total investments $ 328,756 $ 25,950 $ 302,806 $ — December 31, 2023 U.S. government and agency securities $ 26,002 $ — $ 26,002 $ — States, municipalities and political subdivisions 16,964 — 16,964 — Public utilities 3,288 — 3,288 — Corporate securities 48,026 — 48,026 — Mortgage-backed securities 34,622 — 34,622 — Asset-backed securities 9,485 — 9,485 — Total fixed maturities 138,387 — 138,387 — Other investments (1) 14,004 — 14,004 — Total investments $ 152,391 $ — $ 152,391 $ — (1) Other investments included in the fair value hierarchy exclude these limited partnership interests that are measured at estimated fair value using the net asset value per share (or its equivalent) practical expedient. Certain financial assets and financial liabilities are measured at fair value on a non-recurring basis; this is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). There were no financial instruments measured on a non-recurring basis at September 30, 2024 and December 31, 2023. The carrying amounts for the following financial instrument categories approximate their fair values at September 30, 2024 and December 31, 2023, because of their short-term nature: cash and cash equivalents, accrued investment income, premiums receivable, reinsurance recoverable, reinsurance payable, other assets, and other liabilities. The carrying amount of our senior notes approximate fair value as the interest rates and terms are variable. We are responsible for the determination of fair value and the supporting assumptions and methodologies. We have implemented a system of processes and controls designed to provide assurance that our assets and liabilities are appropriately valued. For fair values received from third parties, our processes are designed to provide assurance that the valuation methodologies and inputs are appropriate and consistently applied, the assumptions are reasonable and consistent with the objective of determining fair value, and the fair values are accurately recorded. At the end of each quarter, we determine whether we need to transfer the fair values of any securities between levels of the fair value hierarchy and, if so, we report the transfer as of the end of the quarter. During the quarter ended September 30, 2024, we transferred no investments between levels. For our investments in U.S. government securities that do not have prices in active markets, agency securities, state and municipal governments, and corporate bonds, we obtain the fair values from our investment custodians, which use a third-party valuation service. The valuation service calculates prices for our investments in the aforementioned security types on a month-end basis by using several matrix-pricing methodologies that incorporate inputs from various sources. The model the valuation service uses to price U.S. government securities and securities of states and municipalities incorporates inputs from active market makers and inter-dealer brokers. To price corporate bonds and agency securities, the valuation service calculates non-call yield spreads on all issuers, uses option-adjusted yield spreads to account for any early redemption features, and adds final spreads to the U.S. Treasury curve at 3 p.m. (ET) as of quarter end. Since the inputs the valuation service uses in its calculations are not quoted prices in active markets, but are observable inputs, they represent Level 2 inputs. Other Investments We acquired investments in limited partnerships, recorded in the other investments line of our Unaudited Condensed Consolidated Balance Sheets, and these investments are currently being measured at estimated fair value utilizing a net asset value per share practical expedient. The information presented in the table below is as of September 30, 2024: Book Value Unrealized Gain Unrealized Loss Fair Value September 30, 2024 Limited partnership investments (1) $ 1,992 $ 170 $ 203 $ 1,959 Short-term investments 24,301 132 — 24,433 Total other investments $ 26,293 $ 302 $ 203 $ 26,392 (1) Distributions will be generated from investment gains, from operating income, from underlying investments of funds, and from liquidation of the underlying assets of the funds. We estimate that the underlying assets of the funds will be liquidated over the next few months to five years. Restricted Cash We are required to maintain assets on deposit with various regulatory authorities to support our insurance operations. The cash on deposit with state regulators is available to settle insurance liabilities. We also use trust funds in certain reinsurance transactions. The following table presents the components of restricted assets: September 30, 2024 December 31, 2023 Trust funds $ 56,910 $ 17,439 Cash on deposit (regulatory deposits) 341 631 Total restricted cash $ 57,251 $ 18,070

Earnings per Share

Earnings per Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE (EPS) Basic EPS is based on the weighted average number of common shares outstanding for the period, excluding any dilutive common share equivalents. Diluted EPS reflects the potential dilution resulting from the vesting of outstanding restricted stock awards, restricted stock units, performance stock units and stock options. The following table shows the computation of basic and diluted EPS for the three and nine month periods ended September 30, 2024 and 2023, respectively: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Numerator: Net income attributable to ACIC common stockholders $ 28,119 $ 10,568 $ 70,772 $ 295,627 Denominator: Weighted-average shares outstanding 48,066,358 43,301,388 47,742,744 43,220,084 Effect of dilutive securities 1,454,888 841,305 1,512,327 668,581 Weighted-average diluted shares 49,521,246 44,142,693 49,255,071 43,888,665 Earnings available to ACIC common stockholders per share Basic $ 0.59 $ 0.24 $ 1.49 $ 6.84 Diluted $ 0.57 $ 0.24 $ 1.44 $ 6.73 See Note 16 of these Notes to Unaudited Condensed Consolidated Financial Statements for additional information on the stock grants related to dilutive securities.

Property and Equipment, Net

Property and Equipment, Net	9 Months Ended
	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	PROPERTY AND EQUIPMENT, NET Property and equipment, net consists of the following: September 30, December 31, Computer hardware and software $ 15,282 $ 7,925 Office furniture and equipment 688 748 Leasehold improvements — 311 Total, at cost 15,970 8,984 Less: accumulated depreciation and amortization (8,670) (5,326) Property and equipment, net $ 7,300 $ 3,658 Depreciation and amortization expense under property and equipment was $1,218,000 and $3,744,000 for the three and nine months ended September 30, 2024, respectively. During the first quarter of 2024, we moved capitalized software from discontinued operations to continuing operations to align with the Company's use of the system in the current year. Please see Note 3 for more detail. Depreciation and amortization expense under property and equipment was $296,000 and $1,026,000 for the three and nine months ended September 30, 2023, respectively. During the nine months ended September 30, 2024, we disposed of leasehold improvements totaling $311,000. The accumulated depreciation on these improvements totaled $232,000 at the time of disposal. We disposed of computer hardware and software totaling $147,000. The accumulated depreciation on these systems totaled $98,000 at the time of disposal. In addition, we disposed of office furniture totaling $72,000. The accumulated depreciation on the office furniture totaled $69,000 at the time of disposal. We also impaired software totaling $591,000, due to lower expected cash flows over the remaining life of the software. During the year ended December 31, 2023 , we sold leased vehicles totaling $1,069,000. The accumulated depreciation on these vehicles totaled $1,038,000 at the time of disposal. We realized a net gain on this disposal of $559,000. We disposed of computer hardware and software totaling $1,061,000. The accumulated depreciation on these systems totaled $379,000 at the time of disposal. In addition, we disposed of office furniture totaling $749,000 during the period. Accumulated depreciation at the time of this disposal totaled $702,000. These gains (losses), and the impairment described above are reflected within "Other income" on the Unaudited Condensed Consolidated Statements of Comprehensive Income.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	) GOODWILL AND INTANGIBLE ASSETS Goodwill The carrying amount of goodwill at September 30, 2024 and December 31, 2023 was $59,476,000. No impairment in the value of goodwill was recognized during the nine month period ended September 30, 2024 . There was no goodwill acquired or disposed of during the nine month periods ended September 30, 2024 and 2023 . Accumulated impairment related to goodwill was $10,156,000 at September 30, 2024 and December 31, 2023. Accumulated impairment is attributed to IIC. Intangible Assets The following is a summary of intangible assets excluding goodwill recorded as intangible assets on our Unaudited Condensed Consolidated Balance Sheets: September 30, 2024 December 31, 2023 Intangible assets subject to amortization $ 6,095 $ 8,125 Indefinite-lived intangible assets (1) 423 423 Total $ 6,518 $ 8,548 (1) Indefinite-lived intangible assets are comprised of state insurance and agent licenses, as well as perpetual software licenses. Intangible assets subject to amortization consisted of the following: Weighted-average remaining amortization period (in years) Gross carrying amount Accumulated amortization Net carrying amount September 30, 2024 Agency agreements acquired 2.5 34,661 (28,566) 6,095 Trade names acquired — 6,381 (6,381) — Total $ 41,042 $ (34,947) $ 6,095 December 31, 2023 Agency agreements acquired 3.3 34,661 (26,738) 7,923 Trade names acquired 0.3 6,381 (6,179) 202 Total $ 41,042 $ (32,917) $ 8,125 No impairment in the value of amortizing or non-amortizing intangible assets was recognized during the nine months ended September 30, 2024 and 2023. However, during the nine months ended September 30, 2023, we disposed of intangible assets totaling $200,000. Amortization expense of our intangible assets was $610,000 and $812,000 for the three months ended September 30, 2024 and 2023, respectively. Amortization expense of our intangible assets was $2,030,000 and $2,436,000 for the nine months ended September 30, 2024 and 2023, respectively. Estimated amortization expense of our intangible assets to be recognized by the Company during the remainder of 2024 and over the next five years is as follows: Year ending December 31, Estimated Amortization Expense Remaining in 2024 $ 611 2025 2,438 2026 2,438 2027 608 2028 — 2029 —

Reinsurance

Reinsurance	9 Months Ended
	Sep. 30, 2024
Reinsurance Disclosures [Abstract]
Reinsurance	) REINSURANCE Our catastrophe reinsurance programs are designed primarily by utilizing third-party catastrophe modeling software and consulting with third-party reinsurance experts to project our exposure to catastrophe events. We evaluate modeled expected losses developed by the catastrophe modeling software using our risk portfolio data to estimate probable maximum losses ("PML") across multiple return periods and the average annual loss. The Company monitors and manages its catastrophe risk using this model output along with other internal and external data sources, such as our historical loss experience and industry loss experience, to develop our view of catastrophe risk. Our catastrophe reinsurance coverage consists of three separate placements: 1. AmCoastal’s core catastrophe reinsurance program in effect June 1 through May 31, annually, which includes excess of loss and quota share treaties providing coverage for catastrophe losses from named or numbered windstorms; 2. AmCoastal’s all other perils catastrophe excess of loss agreement in effect January 1 through December 31, annually, which provides protection from catastrophe loss events other than named or numbered windstorms and earthquakes; and 3. IIC’s core catastrophe reinsurance program in effect June 1 through May 31, annually, which provides protection from all catastrophe losses. This reinsurance protection is an essential part of our catastrophe risk management strategy. It is intended to provide our stockholders with an acceptable return on the risks assumed by our insurance entities, and to reduce the variability of earnings, while providing surplus protection. Although reinsurance agreements contractually obligate our reinsurers to reimburse us for the agreed-upon portion of our gross paid losses, they do not discharge our primary liability. In the event one or more of our reinsurers fail to fulfill their obligation, the surplus of our statutory entities may decline, and we may not be able to fulfill our obligation to policyholders, or we may not be able to maintain compliance with various regulatory financial requirements. Additionally, we face the risk that actual losses incurred from one or more catastrophic events may be above the modeled expected loss, resulting in losses exceeding our reinsurance coverage, which may result in a decline in surplus, and as a result we may not be able to fulfill our obligations to policyholders, or we may not be able to maintain compliance with various regulatory financial requirements. The details of our programs and the likelihood of a catastrophic event exceeding these three coverages are outlined below. AmCoastal’s core catastrophe reinsurance program provides occurrence-based coverage up to an exhaustion point of approximately $1,260,000,000 for a first occurrence and $1,610,000,000 in the aggregate. Under this program, our GAAP retention on a first event is $20,500,000 ($10,000,000 retained by AmCoastal under statutory accounting principals (STAT retained), $10,500,000 retained separately by our captive). We have purchased second and third event retrocession coverage, reducing our second and third event GAAP retentions to $13,000,000 ($10,000,000 STAT retained by AmCoastal, $3,000,000 retained separately by our captive). AmCoastal’s program provides sufficient coverage for approximately a 1-in-206-year return period, indicating that the probability of a single occurrence exceeding protection purchased is roughly 0.5% estimated by equally blending the AIR and RMS catastrophe models using long-term catalogs including demand surge. AmCoastal’s program also provides sufficient coverage for a 1-in-100-year event followed by a 1-in-50-year event in the same treaty year, the probability of which is less than 0.1%. While we believe these catastrophe models are very good tools and their output provides reasonable proxies for the probability of exhausting our reinsurance protections, they are imperfect, so actual results could vary dramatically from those expected. AmCoastal’s all other perils catastrophe excess of loss agreement provides protection from catastrophe loss events other than named windstorms and earthquakes up to $172,000,000 in the aggregate. This agreement provides sufficient coverage for a 1-in-450-year return period, indicating that the probability of a single occurrence exceeding protection purchased is no more than 0.2%. IIC’s core catastrophe reinsurance program, which is reported under discontinued operations, provides coverage up to an exhaustion point of approximately $82,500,000 in the aggregate, with a retention of $2,500,000 per occurrence. Based on IIC’s PML, the program provides sufficient coverage for two 1-in-130-year events in the same season, indicating the probability of a single occurrence exceeding protection purchased is no more than 0.1%. Effective December 15, 2023, we agreed to commute a private reinsurer’s share of core catastrophe reinsurance coverage and replace this gap in coverage with new coverage provided by one of our other private reinsurers. This transaction resulted in additional expense of approximately $6,300,000 for the year ended December 31, 2023, and a reduction in expense of approximately $6,300,000 and $15,700,000 during the three and six months ended June 30, 2024, respectively. Where we think prudent, particularly where premium rates are high relative to the risk, we retain risk whereby AmCoastal purchases reinsurance from UPC Re, our captive reinsurance entity. UPC Re participates on AmCoastal's all other perils catastrophe excess of loss agreement and AmCoastal's excess per risk agreement. In addition, UPC Re participates in a 30% quota share agreement with AmCoastal, which provides coverage for all catastrophe perils as well as attritional losses incurred. The table below outlines the participation of UPC Re for each program, including premium received and capital at risk. Treaty Effective Dates Premium Collected / Capital at Risk (1) All Other Perils Catastrophe 01/01/2024 - 01/01/2025 — $4,500,000 Excess Per Risk Agreement 02/01/2024 - 02/01/2025 $1,867,000 $633,000 Quota Share Agreement 06/01/2024 - 06/01/2026 30% (2) $4,200,000 (3) (1) Capital at risk is calculated by taking the aggregate losses UPC Re is subject to under the contract, less net premiums earned under the contract. (2) This treaty provides or provided coverage for all catastrophe perils and attritional losses incurred. For all catastrophe perils, the quota share agreement provides or provided ground-up protection, effectively reducing our retention for catastrophe losses. (3) Net premiums earned based on estimated subject premiums at 06/01/2024. The table below outlines our external quota share agreements in effect for the nine months ended September 30, 2024 and 2023. The impacts of these quota share agreements on the financial statements of our former subsidiary, UPC, are included in discontinued operations in 2023. Reinsurer Companies in Scope Effective Dates Cession Rate States in Scope External third-party AmCoastal 06/01/2024 - 06/01/2026 20% (1)(2) Florida External third-party AmCoastal 06/01/2023 - 06/01/2024 40% (1) Florida External third-party UPC, FSIC & AmCoastal 06/01/2022 - 06/01/2023 10% (1) Florida, Louisiana, Texas TypTap UPC 06/01/2022 - 06/01/2023 100% (3) Georgia, North Carolina, South Carolina (1) This treaty provides or provided coverage for all catastrophe perils and attritional losses incurred. For all catastrophe perils, the quota share agreement provides or provided ground-up protection, effectively reducing our retention for catastrophe losses. (2) The cession rate of this treaty is reduced from 20% to 15% effective 06/01/2025 - 06/01/2026. (3) This treaty provided coverage on our in-force, new and renewal policies until these states were transitioned to HCPCI and TypTap upon renewal. Reinsurance recoverable at the balance sheet dates consists of the following: September 30, December 31, 2024 2023 Reinsurance recoverable on unpaid losses and loss adjustment expenses $ 113,871 $ 271,736 Reinsurance recoverable on paid losses and loss adjustment expenses 33,194 69,084 Reinsurance recoverable (1) $ 147,065 $ 340,820 (1) Our reinsurance recoverable balance is net of our allowance for expected credit losses. More information related to this allowance can be found in Note 12 .

Liability for Unpaid Losses and

Liability for Unpaid Losses and Loss Adjustment Expenses	9 Months Ended
	Sep. 30, 2024
Insurance [Abstract]
Liability for unpaid losses and loss adjustment expenses	LIABILITY FOR UNPAID LOSSES AND LOSS ADJUSTMENT EXPENSE (LAE) We determine the reserve for unpaid losses on an individual case basis for all incidents reported. The liability also includes amounts for incurred but not reported ("IBNR") claims as of the balance sheet date. The table below shows the analysis of our reserve for unpaid losses for the nine months ended September 30, 2024 and 2023 on a GAAP basis: September 30, 2024 2023 Balance at January 1 $ 347,738 $ 816,489 Less: reinsurance recoverable on unpaid losses 271,736 731,666 Net balance at January 1 $ 76,002 $ 84,823 Incurred related to: Current year 41,904 51,180 Prior years (2,379) (11,212) Total incurred $ 39,525 $ 39,968 Paid related to: Current year 29,577 34,746 Prior years 26,499 5,612 Total paid $ 56,076 $ 40,358 Net balance at September 30 $ 59,451 $ 84,433 Plus: reinsurance recoverable on unpaid losses 113,871 337,265 Balance at September 30 $ 173,322 $ 421,698 Composition of reserve for unpaid losses and LAE: Case reserves $ 51,549 $ 128,503 IBNR reserves 121,773 293,195 Balance at September 30 $ 173,322 $ 421,698 Based upon our internal analysis and our review of the annual statement of actuarial opinion provided by our actuarial consultants at December 31, 2023, we believe that the reserve for unpaid losses reasonably represents the amount necessary to pay all claims and related expenses which may arise from incidents that have occurred as of the balance sheet date. As reflected in the table above, we had favorable development in both 2024 and 2023 related to prior year losses. This favorable development came as a result of re-estimating ultimate losses in 2024 and 2023 based on historical loss trends. The prior year loss payments made by the Company during the nine months ended September 30, 2024 were higher than the loss payments made during the nine months ended September 30, 2023, driven by catastrophe loss payments. The current year loss payments made by the Company during the nine months ended September 30, 2024 and September 30, 2023 remained relatively flat. Case and IBNR reserves and reinsurance recoverable on unpaid losses also decreased when compared to the prior period as a result of the continued settlement of prior year claims with no similar losses in 2023 or the current year.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Long-term Debt	LONG-TERM DEBT Senior Notes Payable On December 13, 2017, we issued $150,000,000 of 10-year senior notes (the Senior Notes) that will mature on December 15, 2027 and bear interest at a rate equal to 6.25% per annum payable semi-annually on each June 15 and December 15, commencing June 15, 2018. The Senior Notes are senior unsecured obligations of the Company. We may redeem the Senior Notes at our option, at any time and from time to time in whole or in part, prior to September 15, 2027, at a redemption price equal to the greater of (i) 100% of the principal amount of the notes to be redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest thereon from the date of redemption to the date that is three months prior to maturity, plus accrued and unpaid interest thereon. On or after that date, we may redeem the Senior Notes at par, plus accrued and unpaid interest thereon. On December 8, 2022, the Kroll Bond Rating Agency, LLC announced a downgrade of our issuer and debt ratings from BBB- to BB+. As a result, pursuant to our agreement, the interest rate of our Senior Notes increased from 6.25% to 7.25%. Financial Covenants Our Senior Notes provide that the Company and its subsidiaries shall not incur any indebtedness unless no default exists and the Company’s leverage ratio as of the last day of any annual or quarterly period (the balance sheet date) immediately preceding the date on which such additional indebtedness is incurred would have been no greater than 0.3:1, determined on a pro forma basis as if the additional indebtedness and all other indebtedness incurred since the immediately preceding balance sheet date had been incurred and the proceeds therefrom applied as of such day. The Company and its subsidiaries also may not create, assume, incur or permit to exist any indebtedness for borrowed money that is secured by a lien on the voting stock of any significant subsidiary without securing the Senior Notes equally. The Company may not issue, sell, assign, transfer or otherwise dispose of, directly or indirectly, any of the capital stock of the Company’s significant subsidiaries as of the issue date of the Senior Notes (except to the Company or to one or more of the Company’s other subsidiaries, or for the purpose of qualifying directors or as may be required by law or regulation), subject to certain exceptions. At December 31, 2023, while our leverage ratio was greater than the allowed ratio above, we did not incur any additional indebtedness during the period and as a result, we were in compliance with the covenants in the Senior Notes. Debt Issuance Costs The table below presents the roll forward of our debt issuance costs paid, in conjunction with the debt instruments described above, during the nine months ended September 30, 2024 and 2023: 2024 2023 Balance at January 1, $ 1,312 $ 1,645 Amortization (249) (249) Balance at September 30, $ 1,063 $ 1,396

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Litigation We are involved in claims-related legal actions arising in the ordinary course of business. We accrue amounts resulting from claims-related legal actions in unpaid losses and LAE during the period when that we determine an unfavorable outcome becomes probable and we can estimate the amounts. Management makes revisions to our estimates based on its analysis of subsequent information that we receive regarding various factors, including: (i) per claim information; (ii) company and industry historical loss experience; (iii) judicial decisions and legal developments in the awarding of damages; and (iv) trends in general economic conditions, including the effects of inflation. On October 20, 2023, we received notice that the DFS filed a notice of claim and demand for tender of insurance policy limits under our director and officer insurance to carriers participating in our director and officer’s insurance program (the “Claim”). The Claim alleges that former officers and directors of UPC were involved in wrongful acts that resulted in UPC's insolvency and demands immediate tender of our director and officer’s policy limit of $40,000,000 where we have a retention of $1,500,000. The former directors and officers of UPC deny the allegations. Although no litigation has arisen from the Claim, litigation is anticipated. The directors and officers plan to vigorously defend against the Claim; however, due to our indemnification obligation, during 2023, we accrued the policy retention amount of $1,500,000. This claim remains open as of September 30, 2024. Commitments to fund partnership investments We have fully funded two limited partnership investments. We have no unfunded commitments at September 30, 2024 and December 31, 2023. Leases We, as lessee, have entered into leases of commercial office space of various term lengths. In addition to office space, we lease office equipment and a parking lot under operating leases. The classification of operating and lease asset and liability balances within the Unaudited Condensed Consolidated Balance Sheets was as follows: Financial Statement Line September 30, 2024 December 31, 2023 Assets Operating lease assets Other assets $ 24 $ 562 Total lease assets $ 24 $ 562 Liabilities Operating lease liabilities Operating lease liability $ 23 $ 739 Total lease liabilities $ 23 $ 739 The components of lease expenses were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Operating lease expense $ 58 $ 208 $ 103 $ 624 Financing lease expense: Amortization of leased assets — — — 9 Net lease expense $ 58 $ 208 $ 103 $ 633 At September 30, 2024, future minimum gross lease payments relating to these non-cancellable operating lease agreements were as follows: September 30, 2024 Remaining in 2024 $ 5 2025 19 2026 3 2027 — Total undiscounted future minimum lease payments 27 Less: Imputed interest (4) Present value of lease liabilities $ 23 Weighted average remaining lease term and discount rate related to operating leases were as follows: September 30, 2024 December 31, 2023 Weighted average remaining lease term (months) 17 17 Weighted average discount rate 3.78 % 3.29 % There were no other cash or non-cash related activities during the nine months ended September 30, 2024 and 2023. Capital lease amortization expenses are included in depreciation expense in our Unaudited Condensed Consolidated Statements of Comprehensive Income. See Note 6 of these Notes to Unaudited Condensed Consolidated Financial Statements for more information regarding depreciation expense, Note 10 for information regarding commitments related to long-term debt, and Note 13 for information regarding commitments related to regulatory actions. Subleases We previously leased and occupied office space in which we no longer operate. Effective October 1, 2022, this office space was subleased to a third-party. The sublease was effective from October 1, 2022 through July 31, 2025, with no option to extend. However, on February 29, 2024, this sublease was cancelled as a part of an agreement to terminate the original lease associated with the office space. During the nine months ended September 30, 2024, we recognized $33,000 of income related to this sublease, exclusive of the lease expense associated with the original lease. Employee Retention Credit A series of legislation was enacted in the United States during 2020 and 2021 in response to the COVID-19 pandemic that provided financial relief for businesses impacted by government-mandated shutdowns, work stoppages, or other losses suffered by employers. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) provided an employee retention credit, which is a refundable tax credit against certain employment taxes of up to $5,000 per employee for eligible employers. The tax credit is equal to 50% of qualified wages paid to employees during a quarter, capped at $10,000 of qualified wages per employee. During the second quarter of 2022, we evaluated our eligibility and filed for a $10,161,000 refund in connection with our Employee Retention Tax Credit for the tax year ended December 31, 2021. As of September 30, 2024, we have received $5,718,000 from the IRS related to this refund. A gain contingency is an uncertain situation that will be resolved in the future, possibly resulting in a gain. We have not recognized this gain contingency of $10,161,000 within our financial statements except for the $5,718,000 that has already been received. Quota Share Commission Loss Contingency AmCoastal participates in shared quota-share reinsurance agreements with our former subsidiary, UPC, which are subject to a variable ceding commission based on loss experience. With the receivership of UPC in 2023, we have not received data related to UPC losses that could unfavorably shift AmCoastal’s commission related to these contracts. In addition, we cannot reasonably determine how this shift will be allocated between the contracted parties. Until we receive this loss data and provide the updated calculations to both our reinsurance partners and the DFS, as receiver of UPC, we are unable to estimate the impact, however, we believe a loss contingency related to these commissions may exist as of September 30, 2024. We will continue to monitor the matter for further developments that could affect the outcome of these contingencies and will make any appropriate adjustments each quarter.

Credit Losses

Credit Losses	9 Months Ended
	Sep. 30, 2024
Credit Loss [Abstract]
Allowance for Credit Losses	ALLOWANCE FOR EXPECTED CREDIT LOSSES We are exposed to credit losses primarily through three different pools of assets based on similar risk characteristics: premiums receivable for direct written business; reinsurance recoverables from ceded losses to our reinsurers; and our investment holdings. We estimate the expected credit losses based on historical trends, credit ratings assigned to reinsurers by rating agencies, average default rates, current economic conditions, and reasonable and supportable forecasts of future economic conditions that affect the collectability of the reported amounts over its expected life. Changes in the relevant information may significantly affect the estimates of expected credit losses. The allowance for credit losses is deducted from the amortized cost basis of the assets to present their net carrying value at the amount expected to be collected. Each period, the allowance for credit losses is adjusted through earnings to reflect expected credit losses over the remaining lives of the assets. The following tables summarize our allowance for expected credit losses by pooled asset for the nine months ended September 30, 2024 and 2023, respectively: September 30, 2024 December 31, 2023 Provision for expected credit losses Write-offs September 30, 2024 Premiums Receivable $ 49 $ (32) $ — $ 17 Reinsurance Recoverables 97 (58) — 39 Total $ 146 $ (90) $ — $ 56 September 30, 2023 December 31, 2022 Provision for expected credit losses Write-offs September 30, 2023 Premiums Receivable $ 31 $ (13) $ 2 $ 20 Reinsurance Recoverables 333 (226) — 107 Total $ 364 $ (239) $ 2 $ 127 As of September 30, 2024 and 2023, the Company had no allowance for expected credit losses related to our investment holdings.

Statutory Accounting and Regula

Statutory Accounting and Regulation	9 Months Ended
	Sep. 30, 2024
Insurance [Abstract]
Statutory Accounting and Regulation	STATUTORY ACCOUNTING AND REGULATION The insurance industry is heavily regulated. State laws and regulations, as well as national regulatory agency requirements, govern the operations of all insurers such as our insurance subsidiaries. The various laws and regulations require that insurers maintain minimum amounts of statutory surplus and risk-based capital, restrict insurers' ability to pay dividends, specify allowable investment types and investment mixes, and subject insurers to assessments. AmCoastal is domiciled in Florida, and IIC is domiciled in New York. At September 30, 2024, and during the nine months then ended, AmCoastal and IIC met all regulatory requirements of the states in which they operate. During 2023, we received two assessment notices from the Florida Insurance Guaranty Association ("FIGA"). These assessments will be 1.0% and 0.7% on direct written premiums of all covered lines of business in Florida to cover the cost of insurance companies facing insolvency. These assessments are in addition to the 1.3% assessment, described below, and is recoupable from policyholders. During 2022, we received an assessment notice from FIGA. This assessment was 1.3% on direct written premium of all covered lines of business in Florida to cover the cost of an insurance company facing insolvency. The National Association of Insurance Commissioners ("NAIC") has Risk-Based Capital ("RBC") guidelines for insurance companies that are designed to assess capital adequacy and to raise the level of protection that statutory surplus provides for policyholders. Most states, including Florida and New York, have enacted statutory requirements adopting the NAIC RBC guidelines, and insurers having less statutory surplus than required will be subject to varying degrees of regulatory action, depending on the level of capital inadequacy. State insurance regulatory authorities could require an insurer to cease operations in the event the insurer fails to maintain the required statutory capital. The state laws of Florida and New York permit an insurer to pay dividends or make distributions out of that part of statutory surplus derived from net operating profit and net realized capital gains. The state laws further provide calculations to determine the amount of dividends or distributions that can be made without the prior approval of the insurance regulatory authorities in those states and the amount of dividends or distributions that would require prior approval of the insurance regulatory authorities in those states. Statutory RBC requirements may further restrict our insurance subsidiaries' ability to pay dividends or make distributions if the amount of the intended dividend or distribution would cause statutory surplus to fall below minimum RBC requirements. Additionally, in connection with our former subsidiary UPC's plan for run off, IIC has agreed not to pay ordinary dividends without prior approval of the NYDFS until January 1, 2025. Our insurance subsidiaries must each file with the various insurance regulatory authorities an “Annual Statement” which reports, among other items, statutory net income (loss) and surplus as regards policyholders, which is called stockholders' equity under GAAP. The table below details the statutory net income (loss) for each of our regulated entities for the three and nine months ended September 30, 2024 and 2023. Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 AmCoastal $ 27,821 $ 18,668 $ 69,761 $ 77,781 IIC 169 (809) (632) (3,290) Total $ 27,990 $ 17,859 $ 69,129 $ 74,491 Our insurance subsidiaries must maintain capital and surplus ratios or balances as determined by the regulatory authority of the states in which they are domiciled. At September 30, 2024, we met these requirements. The table below details the amount of surplus as regards policyholders for each of our regulated entities at September 30, 2024 and December 31, 2023. September 30, 2024 December 31, 2023 AmCoastal 214,277 143,452 IIC 22,202 22,661 Total $ 236,479 $ 166,113

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	9 Months Ended
	Sep. 30, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income	ACCUMULATED OTHER COMPREHENSIVE LOSS We report changes in other comprehensive income (loss) items within comprehensive income (loss) on the Unaudited Condensed Consolidated Statements of Comprehensive Income, and we include accumulated other comprehensive income (loss) as a component of stockholders' equity on our Unaudited Condensed Consolidated Balance Sheets. The table below details the components of accumulated other comprehensive loss at period end: Pre-Tax Amount Tax (Expense) Benefit Net-of-Tax Amount December 31, 2023 $ (20,238) $ 3,101 $ (17,137) Changes in net unrealized losses on investments 7,404 31 7,435 Reclassification adjustment for realized losses 124 (31) 93 Impact of Deconsolidation of Discontinued Operations (8) (2,000) (2,008) September 30, 2024 $ (12,718) $ 1,101 $ (11,617)

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2024
Stockholders' Equity Note [Abstract]
Stockholders' Equity	STOCKHOLDERS' EQUITY Our Board of Directors declared no dividends on our outstanding shares of common stock to stockholders of record during 2023 or 2024. In July 2019, our Board of Directors authorized a stock repurchase plan of up to $25,000,000 of our common stock. As of September 30, 2024, we had not yet repurchased any shares under this stock repurchase plan. The timing and volume of repurchases are at the discretion of management, based on the capital needs of the business, the market price of ACIC common stock, and general market conditions. The plan has no expiration date, and the plan may be suspended or discontinued at any time. In September 2023, the Company entered into an equity distribution agreement (the “Agreement”) with Raymond James & Associates, Inc., as agent (the “Agent”), of up to 8,000,000 shares of the Company’s common stock, par value $0.0001 per share (the “Shares”). Sales of the Shares under the Agreement will be made in sales deemed to be “at the market offerings”. The Agent is not required to sell any specific amount of Shares but has agreed to act as the Company’s sales agent for a commission equal to 3.0% of the gross proceeds from the sales of the Shares. As of September 30, 2024, 4,373,000 shares have been sold under the Agreement resulting in commissions paid of approximately $1,181,000 and net proceeds of approximately $38,190,000. The Agreement will terminate upon the issuance and sale of all Shares subject to the Agreement, or the Agreement may be suspended or discontinued at any time. See Note 16

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	) STOCK-BASED COMPENSATION We account for stock-based compensation under the fair value recognition provisions of ASC Topic 718 - Compensation - Stock Compensation . We recognize stock-based compensation cost over the award’s requisite service period on a straight-line basis for time-based restricted stock grants and performance-based restricted stock grants. We record forfeitures as they occur for all stock-based compensation. The following table presents our total stock-based compensation expense: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Employee stock-based compensation expense Pre-tax $ 556 $ 350 $ 1,593 $ 738 Post-tax (1) 439 277 1,258 583 Director stock-based compensation expense Pre-tax 138 60 310 115 Post-tax (1) 109 47 245 91 (1) The after-tax amounts are determined using the 21% corporate federal tax rate. We had approximately $3,329,000 of unrecognized stock compensation expense at September 30, 2024 related to non-vested stock-based compensation granted, which we expect to recognize over a weighted-average period of approximately 2.1 years. We had approximately $340,000 of unrecognized director stock-based compensation expense at September 30, 2024 related to non-vested director stock-based compensation granted, which we expect to recognize over a weighted-average period of approximately 0.6 years. Restricted stock, restricted stock units and performance stock units Stock-based compensation cost for restricted stock awards, restricted stock units and performance stock units is measured based on the closing fair market value of our common stock on the date of grant, which vest in equal installments over the requisite service period of typically three years. Restricted stock awards granted to non-employee directors vest over a one-year period. Each restricted stock unit and performance stock unit represents our obligation to deliver to the holder one share of common stock upon vesting. Performance stock units vest based on the Company's return on average equity compared to a defined group of peer companies. On the grant date, we issue the target number of performance stock units. They are subject to forfeitures if performance goals are not met. The actual number of performance stock units earned can vary from zero to 150 percent of the target for the awards. We granted 96,967 shares of restricted common stock during the three months ended September 30, 2024, which had a weighted-average grant date fair value of $7.88 per share. We did not grant shares of restricted common stock during the three months ended September 30, 2023. We granted 598,713 and 45,000 shares of restricted common stock during the nine months ended September 30, 2024 and 2023, respectively, which had a weighted-average grant date fair value of $7.41 and $5.25, respectively. Additionally, during the nine month period ended September 30, 2023, the Company granted 262,933 shares of restricted common stock, with a fair value of $4.33, which were contingent upon stockholder approval of an increase in the number of shares of our common stock that may be issued pursuant to the 2020 Omnibus Incentive Plan. This increase was approved during our 2024 annual meeting of stockholders and the impact of the contingent grants are included in the granted shares described above and seen in the table below. The following table presents certain information related to the activity of our non-vested restricted common stock grants: Number of Restricted Shares Weighted Average Grant Date Fair Value Outstanding as of December 31, 2023 445,646 $ 2.64 Granted (1) 598,713 7.41 Less: Forfeited 1,476 4.56 Less: Vested 436,472 3.36 Outstanding as of September 30, 2024 606,411 $ 6.23 (1) Contingent shares granted during 2023 have been included in the calculation of 2024's granted values. Stock options Stock option fair value was estimated on the grant date using the Black-Scholes-Merton formula. Stock options vest in equal installments over the requisite service period of typically three years. The following weighted-average assumptions were used to value the stock options granted: 2024 2023 Expected annual dividend yield — % — % Expected volatility 86.92 % 80.84 % Risk-free interest rate 4.37 % 3.44 % Expected term 6 years 6 years The expected annual dividend yield for our options granted during 2024 and 2023 is based on no dividends being paid in future quarters. The expected volatility is a historical volatility calculated based on the daily closing prices over a period equal to the expected term. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the grant date. Expected term takes into account the three-year graded vesting term and the 10-year contractual term of the option. We granted 196,275 stock options for the nine months ended September 30, 2024, which had a weighted average grant date fair value of $4.82 per share. Additionally, during the nine months ended September 30, 2023, the Company granted 123,399 stock options, with a fair value of $3.08, which were contingent upon stockholder approval of an increase in the number of shares of our common stock that may be issued pursuant to the 2020 Omnibus Incentive Plan. This increase was approved during our 2024 annual meeting of stockholders and the impact of the contingent grants are included in the granted options described above and seen in the table below. The following table presents certain information related to the activity of our non-vested stock option grants: Number of Stock Options Weighted Average Exercise Prices Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (3) Outstanding as of December 31, 2023 1,028,760 $ 3.83 7.80 $ 6,151,000 Granted (1) 196,275 4.82 — — Less: Forfeited — — — — Less: Expired — — — — Less: Exercised 95,000 2.35 — — Outstanding as of September 30, 2024 1,130,035 $ 4.12 7.47 $ 8,360,000 Vested as of September 30, 2024 (2) 1,276,019 $ 4.30 7.04 $ 6,147,000 Exercisable as of September 30, 2024 840,768 $ 4.30 7.04 $ 6,147,000 (1) Contingent shares granted during 2023 have been included in the calculation of 2024's granted values. (2) The vested shares are calculated based on all vested shares at September 30, 2024, inclusive of those that have since expired. The weighted average exercise prices, weighted-average remaining contractual term and aggregate intrinsic value is calculated based on only vested shares that are outstanding and exercisable at September 30, 2024. (3) Presented in ones.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS We evaluate all subsequent events and transactions for potential recognition or disclosure in our financial statements. Effective October 1, 2024, the Company's new headquarter office lease located in Suite 100 in the building at 570 Carillon Parkway, St. Petersburg, Florida 33176 commenced. This lease will expire February 28, 2035 unless extended or sooner terminated within the terms of the lease. The Company will recognize a right-of-use operating asset and operating lease liability of $3,256,000 associated with this lease on the date of commencement. On October 9, 2024, Hurricane Milton made landfall in Florida as a category three hurricane. The Company estimates net current accident quarter catastrophe losses incurred from Hurricane Milton to be approximately $16.2 million, net of tax impacts. $7.9 million of this impact is retained by AmCoastal, with $8.3 million being retained by the Company's captive reinsurance entity. The Company also expects to incur $13.0 million of reinstatement premiums that will be amortized as ceded premiums earned over the remaining eight month coverage period, from October 2024 through May 2025.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Pending Accounting Pronouncements	(a) Changes to Significant Accounting Policies As described in Note 1 , during the second quarter of 2024, the Company entered into the Sale Agreement with Forza in which ACIC will sell and Forza will acquire 100% of the issued and outstanding stock of IIC. The activities related directly to supporting the business conducted by IIC were evaluated for qualification as discontinued operations. The results of operations of business are reported as discontinued operations when the disposal represents a strategic shift that will have a major effect on the entity's operations and financial results. When a business is identified for discontinued operations reporting: • Results for prior periods are retroactively reclassified as discontinued operations; • Results of operations are reported in a single line, net of tax, in the Unaudited Condensed Consolidated Statements of Comprehensive Income; and • Assets and liabilities are reported as held for disposal in the Unaudited Condensed Consolidated Balance Sheets. Additional details by major classification of operating results and financial position are included in Note 3 . There have been no other changes to our significant accounting policies as reported in our Annual Report on Form 10-K for the year ended December 31, 2023. (b) Pending Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (FASB) issued ASU No. 2023-07, Segment Reporting (Topic 280) Improvements to Reportable Segments Disclosures. This update requires the disclosure of significant segment expenses that are part of an entity’s segment measure of profit or loss and regularly provided to the chief operating decision maker. In addition, it adds or makes clarifications to other segment-related disclosures, such as clarifying that the disclosure requirements in ASC 280 are required for entities with a single reportable segment and that an entity may disclose multiple measures of segment profit and loss. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 and interim periods beginning after December 15, 2024, with early adoption permitted. We do not intend to elect to early adopt and are assessing the impact of adopting this new accounting standard on our consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740) Improvements to Income Tax Disclosures. This update amends the Codification to enhance the transparency and decision usefulness of income tax disclosures. This ASU requires additional disaggregation of the reconciliation between the statutory and effective tax rate for an entity and of income taxes paid, both of which are disclosures required by current GAAP. The amendments improve the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for annual periods beginning after December 15, 2024, with early adoption permitted. We do not intend to elect to early adopt and are assessing the impact of adopting this new accounting standard on our consolidated financial statements and related disclosures.

Discontinued Operations and D_2

Discontinued Operations and Disposal Groups (Tables)	9 Months Ended
	Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations - Results of Ops IIC	The results from IIC's discontinued operations for the three and nine months ended September 30, 2024 and 2023 are presented below. IIC Results from Discontinued Operations Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 REVENUE: Gross premiums written $ 12,402 $ 9,886 $ 31,261 $ 27,431 Change in gross unearned premiums (3,140) (1,903) (4,689) (4,585) Gross premiums earned 9,262 7,983 26,572 22,846 Ceded premiums earned (2,256) (2,439) (7,025) (9,464) Net premiums earned 7,006 5,544 19,547 13,382 Net investment income 539 622 1,563 1,765 Net realized investment losses (13) (2) (66) (19) Other revenue 18 18 49 52 Total revenue 7,550 6,182 21,093 15,180 EXPENSES: Losses and loss adjustment expenses 4,448 3,942 13,767 11,123 Policy acquisition costs 2,052 1,994 6,234 5,819 Operating expenses 328 718 1,091 1,279 General and administrative expenses 126 120 918 471 Total expenses 6,954 6,774 22,010 18,692 Income (loss) before other income 596 (592) (917) (3,512) Other income — 11 — 11 Income (loss) before income taxes 596 (581) (917) (3,501) Provision (benefit) for income taxes (1) 146 61 (1,238) (769) Income (loss) from discontinued operations, net of tax $ 450 $ (642) $ 321 $ (2,732) (1) 2024 year-to-date results include $1,007,000 in tax benefit related to discontinued operations outside of IIC stand-alone results.
Discontinued Operations - Assets & Liabilities IIC	The major classes of IIC assets and liabilities as of September 30, 2024 and December 31, 2023 are presented below. IIC Major Classes of Assets and Liabilities to be Sold September 30, 2024 December 31, 2023 ASSETS Fixed maturities, available-for-sale $ 36,726 $ 42,316 Other investments 969 — Cash and cash equivalents 22,058 14,832 Accrued investment income 324 337 Premiums receivable, net 2,186 1,350 Reinsurance recoverable on paid and unpaid losses, net 260 282 Ceded unearned premiums 5,514 3,846 Deferred policy acquisition costs, net 3,942 3,892 Intangible assets, net 775 775 Other assets 1,783 1,418 Total assets $ 74,537 $ 69,048 LIABILITIES Unpaid losses and loss adjustment expenses $ 21,356 $ 22,483 Unearned premiums 21,589 16,900 Reinsurance payable on premiums 2,376 2,312 Payments outstanding 2,344 1,410 Accounts payable and accrued expenses 757 501 Operating lease liability 13 37 Other liabilities 689 487 Total Liabilities $ 49,124 $ 44,130
Discontinued Operations - Assets & Liabilities UPC	The major classes of assets and liabilities transferred as a result of the UPC transaction as of the date of transfer are presented below. UPC Major Classes of Assets and Liabilities Disposed Closing (1) ASSETS Fixed maturities, available-for-sale $ 1,380 Equity securities 272 Other investments 12,882 Cash and cash equivalents 224,824 Restricted cash 7,758 Accrued investment income 875 Premiums receivable, net 22,733 Reinsurance recoverable on paid and unpaid losses, net 548,929 Ceded unearned premiums 75,262 Deferred policy acquisition costs, net (89) Other assets 51,625 Total assets $ 946,451 LIABILITIES Unpaid losses and loss adjustment expenses $ 920,431 Unearned premiums 98,655 Reinsurance payable on premiums 12,612 Payments outstanding 144,238 Accounts payable and accrued expenses 1,361 Other liabilities 3,476 Notes payable, net 4,118 Total Liabilities $ 1,184,891 (1) The Company divested its ownership on February 27, 2023, the date the DFS was appointed as receiver of the entity.
Discontinued Operations - Results of Ops UPC	The results from UPC's discontinued operations, including the supporting activities provided by SCS, SLS and UIM for the three and nine months ended September 30, 2024 and 2023 are presented below. UPC Results from Discontinued Operations Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 REVENUE: Gross premiums written $ — $ — $ — $ (120,608) Change in gross unearned premiums — — — 198,154 Gross premiums earned — — — 77,546 Ceded premiums earned — — — (48,203) Net premiums earned — — — 29,343 Net investment income — — — 2,182 Net realized investment gains — — — 1,343 Net unrealized gains on equity securities — — — 2,080 Other revenue — — — 2,717 Total revenue — — — 37,665 EXPENSES: Losses and loss adjustment expenses — 851 — 37,268 Policy acquisition costs — — — (1,522) Operating expenses — 153 — 4,656 General and administrative expenses — 2,872 — 5,431 Interest expense — — — 22 Total expenses — 3,876 — 45,855 Loss before income taxes — (3,876) — (8,190) Provision (benefit) for income taxes — (71) — (285) Loss from discontinued operations, net of tax $ — $ (3,805) $ — $ (7,905)

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2024
Debt and Equity Securities, FV-NI
Schedule of Available-for-sale Securities Reconciliation	The following table details fixed-maturity available-for-sale securities, by major investment category, at September 30, 2024 and December 31, 2023: Cost or Adjusted/Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value September 30, 2024 U.S. government and agency securities $ 156,119 $ 1,602 $ — $ 157,721 Foreign government 438 1 — 439 States, municipalities and political subdivisions 18,386 9 1,597 16,798 Public utilities 5,061 4 301 4,764 Corporate securities 62,090 26 5,294 56,822 Mortgage-backed securities 37,199 — 4,709 32,490 Asset-backed securities 10,136 1 798 9,339 Total fixed maturities $ 289,429 $ 1,643 $ 12,699 $ 278,373 December 31, 2023 U.S. government and agency securities $ 25,995 $ 10 $ 3 $ 26,002 States, municipalities and political subdivisions 19,168 — 2,204 16,964 Public utilities 3,726 — 438 3,288 Corporate securities 55,230 9 7,213 48,026 Mortgage-backed securities 40,876 — 6,254 34,622 Asset-backed securities 10,691 — 1,206 9,485 Total fixed maturities $ 155,686 $ 19 $ 17,318 $ 138,387
Equity Securities Fair Value	Equity securities are summarized as follows: September 30, 2024 December 31, 2023 Estimated Fair Value Percent of Total Estimated Fair Value Percent of Total Mutual funds $ 25,950 100.0 % $ — — %
Schedule of Realized Gain (Loss)	The following table details our realized gains (losses) by major investment category for the three and nine months ended September 30, 2024 and 2023, respectively: 2024 2023 Gains Fair Value at Sale (1) Gains Fair Value at Sale (1) Three Months Ended September 30, Fixed maturities $ — $ 2,516 $ — $ 1,528 Short-term investments — 5,000 — — Other investments — — 3 1,151 Total realized gains — 7,516 3 2,679 Fixed maturities (3) 62 1 58 Total realized losses (3) 62 1 58 Net realized investment gains (losses) $ (3) $ 7,578 $ 4 $ 2,737 Nine Months Ended September 30, Fixed maturities $ — $ 5,593 $ 4 $ 5,200 Equity securities — — 165 5,786 Short-term investments — 5,000 — 126 Other investments — 2,000 3 1,151 Total realized gains — 12,593 172 12,263 Fixed maturities (124) 443 (6,294) 38,793 Equity securities — — (665) 10,372 Short-term investments — 4,999 — — Total realized losses (124) 5,442 (6,959) 49,165 Net realized investment gains (losses) $ (124) $ 18,035 $ (6,787) $ 61,428
Investments Classified by Contractual Maturity Date	The table below summarizes our fixed maturities at September 30, 2024 by contractual maturity period. Actual results may differ, as issuers may have the right to call or prepay obligations, with or without penalties, prior to the contractual maturities of those obligations. September 30, 2024 Cost or Amortized Cost Percent of Total Fair Value Percent of Total Due in one year or less $ 103,910 35.8 % $ 104,436 37.5 % Due after one year through five years 98,265 34.0 97,124 34.9 Due after five years through ten years 37,924 13.1 33,383 12.0 Due after ten years 1,995 0.7 1,601 0.6 Asset and mortgage-backed securities 47,335 16.4 41,829 15.0 Total $ 289,429 100.0 % $ 278,373 100.0 %
Investment Income	The following table summarizes net investment income by major investment category: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Fixed maturities $ 2,513 $ 691 $ 4,499 $ 2,352 Equity securities 120 — 185 81 Cash and cash equivalents 3,236 1,473 10,332 4,055 Other investments 353 (33) 648 (111) Investment income 6,222 2,131 15,664 6,377 Investment expenses (112) (44) (190) (152) Net investment income $ 6,110 $ 2,087 $ 15,474 $ 6,225
Schedule of Unrealized Loss on Investments	The following table presents an aging of our unrealized investment losses by investment class: Less Than Twelve Months Twelve Months or More Number of Securities (1) Gross Unrealized Losses Fair Value Number of Securities (1) Gross Unrealized Losses Fair Value September 30, 2024 U.S. government and agency securities — $ — $ — — $ — $ — States, municipalities and political subdivisions — — — 28 1,597 16,277 Public utilities 2 5 529 6 296 3,392 Corporate securities 19 41 7,149 81 5,253 47,129 Mortgage-backed securities 1 1 259 63 4,708 32,231 Asset-backed securities 1 — 126 23 798 8,462 Total fixed maturities 23 $ 47 $ 8,063 201 $ 12,652 $ 107,491 December 31, 2023 U.S. government and agency securities 9 $ 3 $ 19,943 — $ — $ — States, municipalities and political subdivisions 1 7 507 29 2,197 16,457 Public utilities — — — 6 438 3,288 Corporate securities 1 6 511 85 7,207 46,708 Mortgage-backed securities 1 5 269 69 6,249 34,353 Asset-backed securities 2 3 616 24 1,203 8,869 Total fixed maturities 14 $ 24 $ 21,846 213 $ 17,294 $ 109,675 (1) This amount represents the actual number of discrete securities, not the number of shares or units of those securities. The numbers are not presented in thousands.
Schedule of Fair Value of Financial Instruments Measured on a Recurring Basis	The following table presents the fair value of our financial instruments measured on a recurring basis by level at September 30, 2024 and December 31, 2023, respectively: Total Level 1 Level 2 Level 3 September 30, 2024 U.S. government and agency securities $ 157,721 $ — $ 157,721 $ — Foreign government 439 — 439 — States, municipalities and political subdivisions 16,798 — 16,798 — Public utilities 4,764 — 4,764 — Corporate securities 56,822 — 56,822 — Mortgage-backed securities 32,490 — 32,490 — Asset-backed securities 9,339 — 9,339 — Total fixed maturities 278,373 — 278,373 — Mutual funds 25,950 25,950 — — Total equity securities 25,950 25,950 — — Other investments (1) 24,433 — 24,433 — Total investments $ 328,756 $ 25,950 $ 302,806 $ — December 31, 2023 U.S. government and agency securities $ 26,002 $ — $ 26,002 $ — States, municipalities and political subdivisions 16,964 — 16,964 — Public utilities 3,288 — 3,288 — Corporate securities 48,026 — 48,026 — Mortgage-backed securities 34,622 — 34,622 — Asset-backed securities 9,485 — 9,485 — Total fixed maturities 138,387 — 138,387 — Other investments (1) 14,004 — 14,004 — Total investments $ 152,391 $ — $ 152,391 $ — (1) Other investments included in the fair value hierarchy exclude these limited partnership interests that are measured at estimated fair value using the net asset value per share (or its equivalent) practical expedient.
Schedule of Investments in Limited Partnerships	The information presented in the table below is as of September 30, 2024: Book Value Unrealized Gain Unrealized Loss Fair Value September 30, 2024 Limited partnership investments (1) $ 1,992 $ 170 $ 203 $ 1,959 Short-term investments 24,301 132 — 24,433 Total other investments $ 26,293 $ 302 $ 203 $ 26,392
Restrictions on Cash and Cash Equivalents	The following table presents the components of restricted assets: September 30, 2024 December 31, 2023 Trust funds $ 56,910 $ 17,439 Cash on deposit (regulatory deposits) 341 631 Total restricted cash $ 57,251 $ 18,070

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	The following table shows the computation of basic and diluted EPS for the three and nine month periods ended September 30, 2024 and 2023, respectively: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Numerator: Net income attributable to ACIC common stockholders $ 28,119 $ 10,568 $ 70,772 $ 295,627 Denominator: Weighted-average shares outstanding 48,066,358 43,301,388 47,742,744 43,220,084 Effect of dilutive securities 1,454,888 841,305 1,512,327 668,581 Weighted-average diluted shares 49,521,246 44,142,693 49,255,071 43,888,665 Earnings available to ACIC common stockholders per share Basic $ 0.59 $ 0.24 $ 1.49 $ 6.84 Diluted $ 0.57 $ 0.24 $ 1.44 $ 6.73

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	9 Months Ended
	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment, net consists of the following: September 30, December 31, Computer hardware and software $ 15,282 $ 7,925 Office furniture and equipment 688 748 Leasehold improvements — 311 Total, at cost 15,970 8,984 Less: accumulated depreciation and amortization (8,670) (5,326) Property and equipment, net $ 7,300 $ 3,658

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill	The following is a summary of intangible assets excluding goodwill recorded as intangible assets on our Unaudited Condensed Consolidated Balance Sheets: September 30, 2024 December 31, 2023 Intangible assets subject to amortization $ 6,095 $ 8,125 Indefinite-lived intangible assets (1) 423 423 Total $ 6,518 $ 8,548 (1) Indefinite-lived intangible assets are comprised of state insurance and agent licenses, as well as perpetual software licenses.
Schedule of Acquired Finite-Lived Intangible Assets by Major Class	Intangible assets subject to amortization consisted of the following: Weighted-average remaining amortization period (in years) Gross carrying amount Accumulated amortization Net carrying amount September 30, 2024 Agency agreements acquired 2.5 34,661 (28,566) 6,095 Trade names acquired — 6,381 (6,381) — Total $ 41,042 $ (34,947) $ 6,095 December 31, 2023 Agency agreements acquired 3.3 34,661 (26,738) 7,923 Trade names acquired 0.3 6,381 (6,179) 202 Total $ 41,042 $ (32,917) $ 8,125
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	Estimated amortization expense of our intangible assets to be recognized by the Company during the remainder of 2024 and over the next five years is as follows: Year ending December 31, Estimated Amortization Expense Remaining in 2024 $ 611 2025 2,438 2026 2,438 2027 608 2028 — 2029 —

Reinsurance (Tables)

Reinsurance (Tables)	9 Months Ended
	Sep. 30, 2024
Reinsurance Disclosures [Abstract]
Reinsurance Recoverables	Reinsurance recoverable at the balance sheet dates consists of the following: September 30, December 31, 2024 2023 Reinsurance recoverable on unpaid losses and loss adjustment expenses $ 113,871 $ 271,736 Reinsurance recoverable on paid losses and loss adjustment expenses 33,194 69,084 Reinsurance recoverable (1) $ 147,065 $ 340,820

Liability for Unpaid Losses a_2

Liability for Unpaid Losses and Loss Adjustment Expense (Tables)	9 Months Ended
	Sep. 30, 2024
Insurance [Abstract]
Schedule of Liability for Unpaid Claims and Claims Adjustment Expense	The table below shows the analysis of our reserve for unpaid losses for the nine months ended September 30, 2024 and 2023 on a GAAP basis: September 30, 2024 2023 Balance at January 1 $ 347,738 $ 816,489 Less: reinsurance recoverable on unpaid losses 271,736 731,666 Net balance at January 1 $ 76,002 $ 84,823 Incurred related to: Current year 41,904 51,180 Prior years (2,379) (11,212) Total incurred $ 39,525 $ 39,968 Paid related to: Current year 29,577 34,746 Prior years 26,499 5,612 Total paid $ 56,076 $ 40,358 Net balance at September 30 $ 59,451 $ 84,433 Plus: reinsurance recoverable on unpaid losses 113,871 337,265 Balance at September 30 $ 173,322 $ 421,698 Composition of reserve for unpaid losses and LAE: Case reserves $ 51,549 $ 128,503 IBNR reserves 121,773 293,195 Balance at September 30 $ 173,322 $ 421,698

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Debt Issuance Cost Rollforward	The table below presents the roll forward of our debt issuance costs paid, in conjunction with the debt instruments described above, during the nine months ended September 30, 2024 and 2023: 2024 2023 Balance at January 1, $ 1,312 $ 1,645 Amortization (249) (249) Balance at September 30, $ 1,063 $ 1,396

Commitments and Contingencies L

Commitments and Contingencies Leases (Tables)	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Lease, Cost	The components of lease expenses were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Operating lease expense $ 58 $ 208 $ 103 $ 624 Financing lease expense: Amortization of leased assets — — — 9 Net lease expense $ 58 $ 208 $ 103 $ 633
Lease Assets and Liabilities	The classification of operating and lease asset and liability balances within the Unaudited Condensed Consolidated Balance Sheets was as follows: Financial Statement Line September 30, 2024 December 31, 2023 Assets Operating lease assets Other assets $ 24 $ 562 Total lease assets $ 24 $ 562 Liabilities Operating lease liabilities Operating lease liability $ 23 $ 739 Total lease liabilities $ 23 $ 739
Weighted Average Lease Terms	Weighted average remaining lease term and discount rate related to operating leases were as follows: September 30, 2024 December 31, 2023 Weighted average remaining lease term (months) 17 17 Weighted average discount rate 3.78 % 3.29 %
Lessee, Operating Lease, Liability, Maturity	At September 30, 2024, future minimum gross lease payments relating to these non-cancellable operating lease agreements were as follows: September 30, 2024 Remaining in 2024 $ 5 2025 19 2026 3 2027 — Total undiscounted future minimum lease payments 27 Less: Imputed interest (4) Present value of lease liabilities $ 23

Credit Losses (Tables)

Credit Losses (Tables)	9 Months Ended
	Sep. 30, 2024
Credit Loss [Abstract]
Credit Loss Allowance Activity [Table]	The following tables summarize our allowance for expected credit losses by pooled asset for the nine months ended September 30, 2024 and 2023, respectively: September 30, 2024 December 31, 2023 Provision for expected credit losses Write-offs September 30, 2024 Premiums Receivable $ 49 $ (32) $ — $ 17 Reinsurance Recoverables 97 (58) — 39 Total $ 146 $ (90) $ — $ 56 September 30, 2023 December 31, 2022 Provision for expected credit losses Write-offs September 30, 2023 Premiums Receivable $ 31 $ (13) $ 2 $ 20 Reinsurance Recoverables 333 (226) — 107 Total $ 364 $ (239) $ 2 $ 127 As of September 30, 2024 and 2023, the Company had no allowance for expected credit losses related to our investment holdings.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 30, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The table below details the components of accumulated other comprehensive loss at period end: Pre-Tax Amount Tax (Expense) Benefit Net-of-Tax Amount December 31, 2023 $ (20,238) $ 3,101 $ (17,137) Changes in net unrealized losses on investments 7,404 31 7,435 Reclassification adjustment for realized losses 124 (31) 93 Impact of Deconsolidation of Discontinued Operations (8) (2,000) (2,008) September 30, 2024 $ (12,718) $ 1,101 $ (11,617)

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2024
Stockholders' Equity Note [Abstract]
Schedule of Dividends Declared	Our Board of Directors declared no dividends on our outstanding shares of common stock to stockholders of record during 2023 or 2024.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Share-based Compensation, Stock Options and Stock Appreciation Rights Award Activity	The following table presents certain information related to the activity of our non-vested stock option grants: Number of Stock Options Weighted Average Exercise Prices Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (3) Outstanding as of December 31, 2023 1,028,760 $ 3.83 7.80 $ 6,151,000 Granted (1) 196,275 4.82 — — Less: Forfeited — — — — Less: Expired — — — — Less: Exercised 95,000 2.35 — — Outstanding as of September 30, 2024 1,130,035 $ 4.12 7.47 $ 8,360,000 Vested as of September 30, 2024 (2) 1,276,019 $ 4.30 7.04 $ 6,147,000 Exercisable as of September 30, 2024 840,768 $ 4.30 7.04 $ 6,147,000 (1) Contingent shares granted during 2023 have been included in the calculation of 2024's granted values. (2) The vested shares are calculated based on all vested shares at September 30, 2024, inclusive of those that have since expired. The weighted average exercise prices, weighted-average remaining contractual term and aggregate intrinsic value is calculated based on only vested shares that are outstanding and exercisable at September 30, 2024. (3) Presented in ones.
Schedule of Nonvested Share Activity	The following table presents certain information related to the activity of our non-vested restricted common stock grants: Number of Restricted Shares Weighted Average Grant Date Fair Value Outstanding as of December 31, 2023 445,646 $ 2.64 Granted (1) 598,713 7.41 Less: Forfeited 1,476 4.56 Less: Vested 436,472 3.36 Outstanding as of September 30, 2024 606,411 $ 6.23
Share-based Payment Arrangement, Activity	The following table presents our total stock-based compensation expense: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Employee stock-based compensation expense Pre-tax $ 556 $ 350 $ 1,593 $ 738 Post-tax (1) 439 277 1,258 583 Director stock-based compensation expense Pre-tax 138 60 310 115 Post-tax (1) 109 47 245 91
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The following weighted-average assumptions were used to value the stock options granted: 2024 2023 Expected annual dividend yield — % — % Expected volatility 86.92 % 80.84 % Risk-free interest rate 4.37 % 3.44 % Expected term 6 years 6 years

Organization, Consolidation a_2

Organization, Consolidation and Presentation (Details)	9 Months Ended
	Sep. 30, 2024 subsidiary
Number of Wholly-Owned Subsidiaries
Number of Wholly Owned Subsidiaries	2

Discontinued Operations and D_3

Discontinued Operations and Disposal Groups (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Feb. 27, 2023	Dec. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross premiums written	$ 93,016	$ 93,986	$ 507,066	$ 507,449
Unearned premiums	67,162	63,791	(31,168)	(61,860)
Gross premiums earned	160,178	157,777	475,898	445,589
Ceded premiums earned	(85,692)	(107,513)	(275,400)	(232,670)
Premiums Earned, Net, Property and Casualty	74,486	50,264	200,498	212,919
Investment Income, Net	6,110	2,087	15,474	6,225
Gain (Loss) on Investments	(3)	4	(124)	(6,787)
Equity Securities, FV-NI, Unrealized Gain (Loss)	1,543	177	1,542	792
Revenues	82,136	52,532	217,390	213,149
Policyholder Benefits and Claims Incurred, Net	11,774	9,822	39,525	39,968
Policy acquisition costs	20,942	13,606	44,476	62,298
Operating Costs and Expenses	2,115	2,081	6,492	6,962
General and administrative expenses	8,174	6,011	26,987	21,036
Interest expense	3,067	2,718	9,212	8,156
Costs and Expenses	46,072	34,238	126,692	138,420
Operating Income (Loss)	36,064	18,294	90,698	74,729
Other income	453	(237)	2,074	1,157
Provision for income taxes	8,848	3,042	22,321	8,062
Fixed maturities	278,373		278,373		$ 138,387
Equity Securities, FV-NI	25,950		25,950		0
Other investments	26,392		26,392		16,487
Cash and Cash Equivalents	183,147		183,147		138,930
Restricted Cash	57,251		57,251		18,070
Accrued Investment Income	3,359		3,359		1,767
Property and equipment, net	7,300		7,300		3,658
Premiums receivable, net	18,630		18,630		45,924
Reinsurance Recoverable for Paid and Unpaid Claims and Claims Adjustments	147,065		147,065		340,820
Prepaid Reinsurance Premiums	199,426		199,426		155,301
Deferred policy acquisition costs	43,166		43,166		21,149
Assets	1,143,874		1,143,874		1,062,378
Liabilities	884,292		884,292		893,613
Other assets, net	13,284		13,284		36,718
Disposal Group, Including Discontinued Operation, Assets	74,537		74,537		77,143
Unpaid losses and loss adjustment expenses	173,322	421,698	173,322	421,698	347,738		$ 816,489
Unearned Premiums	307,325		307,325		276,157
Reinsurance Payable	122,597		122,597		0
Payments outstanding	4,479		4,479		706
Accounts Payable	75,525		75,525		74,783
Other Liabilities	2,960		2,960		672
Notes Payable	148,937		148,937		148,688
Disposal Group, Including Discontinued Operation, Liabilities	49,124		49,124		44,130
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax			1,007	238,440
Depreciation and amortization expense	1,218	296	3,744	1,026
Intangible Assets, Net (Excluding Goodwill)	6,518		6,518		8,548
Operating Lease, Liability	23		23		739
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property and equipment, net					8,095
Depreciation and amortization expense		2,141		2,680
Discontinued Operations | Interboro Insurance
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross premiums written	12,402	9,886	31,261	27,431
Unearned premiums	(3,140)	(1,903)	(4,689)	(4,585)
Gross premiums earned	9,262	7,983	26,572	22,846
Ceded premiums earned	(2,256)	(2,439)	(7,025)	(9,464)
Premiums Earned, Net, Property and Casualty	7,006	5,544	19,547	13,382
Investment Income, Net	539	622	1,563	1,765
Gain (Loss) on Investments	(13)	(2)	(66)	(19)
Other revenue	18	18	49	52
Revenues	7,550	6,182	21,093	15,180
Policyholder Benefits and Claims Incurred, Net	4,448	3,942	13,767	11,123
Policy acquisition costs	2,052	1,994	6,234	5,819
Operating Costs and Expenses	328	718	1,091	1,279
General and administrative expenses	126	120	918	471
Costs and Expenses	6,954	6,774	22,010	18,692
Operating Income (Loss)	596	(592)	(917)	(3,512)
Other income	0	11	0	11
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax	596	(581)	(917)	(3,501)
Provision for income taxes	146	61	(1,238)	(769)
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	450	(642)	321	(2,732)
Fixed maturities	36,726		36,726		42,316
Other investments	969		969		0
Cash and Cash Equivalents	22,058		22,058		14,832
Accrued Investment Income	324		324		337
Premiums receivable, net	2,186		2,186		1,350
Reinsurance Recoverable for Paid and Unpaid Claims and Claims Adjustments	260		260		282
Prepaid Reinsurance Premiums	5,514		5,514		3,846
Deferred policy acquisition costs	3,942		3,942		3,892
Other assets, net	1,783		1,783		1,418
Disposal Group, Including Discontinued Operation, Assets	74,537		74,537		69,048
Unpaid losses and loss adjustment expenses	21,356		21,356		22,483
Unearned Premiums	21,589		21,589		16,900
Reinsurance Payable	2,376		2,376		2,312
Payments outstanding	2,344		2,344		1,410
Accounts Payable	757		757		501
Other Liabilities	689		689		487
Disposal Group, Including Discontinued Operation, Liabilities	49,124		49,124		44,130
Intangible Assets, Net (Excluding Goodwill)	775		775		775
Operating Lease, Liability	$ 13		$ 13		$ 37
Discontinued Operations | UPC Insurance
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross premiums written				(120,608)
Unearned premiums				198,154
Gross premiums earned				77,546
Ceded premiums earned				(48,203)
Premiums Earned, Net, Property and Casualty				29,343
Investment Income, Net				2,182
Gain (Loss) on Investments				1,343
Equity Securities, FV-NI, Unrealized Gain (Loss)				2,080
Other revenue				2,717
Revenues				37,665
Policyholder Benefits and Claims Incurred, Net		851		37,268
Policy acquisition costs		0		(1,522)
Operating Costs and Expenses		153		4,656
General and administrative expenses		2,872		5,431
Interest expense				22
Costs and Expenses		3,876		45,855
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax		(3,876)		(8,190)
Provision for income taxes		(71)		(285)
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent		$ (3,805)		$ (7,905)
Fixed maturities						$ 1,380
Equity Securities, FV-NI						272
Other investments						12,882
Cash and Cash Equivalents						224,824
Restricted Cash						7,758
Accrued Investment Income						875
Premiums receivable, net						22,733
Reinsurance Recoverable for Paid and Unpaid Claims and Claims Adjustments						548,929
Prepaid Reinsurance Premiums						75,262
Deferred policy acquisition costs						(89)
Other assets, net						51,625
Disposal Group, Including Discontinued Operation, Assets						946,451
Unpaid losses and loss adjustment expenses						920,431
Unearned Premiums						98,655
Reinsurance Payable						12,612
Payments outstanding						144,238
Accounts Payable						1,361
Other Liabilities						3,476
Notes Payable						4,118
Disposal Group, Including Discontinued Operation, Liabilities						$ 1,184,891

Investments (Details)

Investments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Schedule of Available-for-sale Securities
Credit Loss Change, Available-for-Sale Investments	$ 0	$ 0	$ 0	$ 0

Investments - Schedule of Avail

Investments - Schedule of Available-for-sale Securities Reconciliation (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Schedule of Available-for-sale Securities
Fair Value	$ 278,373	$ 138,387
U.S. Government and Agency Securities
Schedule of Available-for-sale Securities
Fixed maturities, cost	156,119	25,995
Fair Value	157,721	26,002
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax	1,602	10
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax	0	3
Foreign Government
Schedule of Available-for-sale Securities
Fixed maturities, cost	438
Fair Value	439
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax	1
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax	0
States, Municipalities and Political Subdivisions
Schedule of Available-for-sale Securities
Fixed maturities, cost	18,386	19,168
Fair Value	16,798	16,964
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax	9	0
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax	1,597	2,204
Public Utilities
Schedule of Available-for-sale Securities
Fixed maturities, cost	5,061	3,726
Fair Value	4,764	3,288
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax	4	0
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax	301	438
Corporate Securities
Schedule of Available-for-sale Securities
Fixed maturities, cost	62,090	55,230
Fair Value	56,822	48,026
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax	26	9
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax	5,294	7,213
Mortgage-backed securities
Schedule of Available-for-sale Securities
Fixed maturities, cost	37,199	40,876
Fair Value	32,490	34,622
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax	0	0
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax	4,709	6,254
Asset-backed Securities
Schedule of Available-for-sale Securities
Fixed maturities, cost	10,136	10,691
Fair Value	9,339	9,485
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax	1	0
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax	798	1,206
Fixed Maturities
Schedule of Available-for-sale Securities
Fixed maturities, cost	289,429	155,686
Fair Value	278,373	138,387
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax	1,643	19
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax	$ 12,699	$ 17,318

Investments - Schedule of Reali

Investments - Schedule of Realized Gain (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Fair Value at Sale
Fair value at sale	$ 7,516	$ 2,679	$ 12,593	$ 12,263
Fair value at sale	62	58	5,442	49,165
Net fair value at sale	7,578	2,737	18,035	61,428
Debt Securities, Available-for-Sale, Realized Gain	0	3	0	172
Debt Securities, Available-for-Sale, Realized Loss	(3)	1	(124)	(6,959)
Debt Securities, Available-for-Sale, Realized Gain (Loss)	(3)	4	(124)	(6,787)
Fixed Maturities
Fair Value at Sale
Fair value at sale	2,516	1,528	5,593	5,200
Fair value at sale	62	58	443	38,793
Debt Securities, Available-for-Sale, Realized Gain	0	0	0	4
Debt Securities, Available-for-Sale, Realized Loss	(3)	1	(124)	(6,294)
Equity Securities
Fair Value at Sale
Fair value at sale			0	5,786
Fair value at sale			0	10,372
Equity Securities, FV-NI, Realized Gain			0	165
Equity Securities, FV-NI, Realized Loss			0	(665)
Short-term Investments
Fair Value at Sale
Fair value at sale	5,000	0	5,000	126
Fair value at sale			4,999	0
Debt Securities, Available-for-Sale, Realized Gain	0	0	0	0
Debt Securities, Available-for-Sale, Realized Loss			0	0
Limited Partnership
Fair Value at Sale
Fair value at sale	0	1,151	2,000	1,151
Debt Securities, Available-for-Sale, Realized Gain	$ 0	$ 3	$ 0	$ 3

Investments - Investments Class

Investments - Investments Classified by Contractual Maturity Date (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value
Total	$ 278,373	$ 138,387
Fixed Maturities
Cost or Amortized Cost
Due in one year or less	103,910
Due after one year through five years	98,265
Due after five years through ten years	37,924
Due after ten years	1,995
Asset and mortgage backed securities	47,335
Cost or adjusted/amortized cost	$ 289,429	155,686
Percent of Total
Due in one year or less	35.80%
Due after one year through five years	34%
Due after five years through ten years	13.10%
Due after ten years	0.70%
Asset and mortgage backed securities	16.40%
Total	100%
Fair Value
Due in one year or less	$ 104,436
Due after one year through five years	97,124
Due after five years through ten years	33,383
Due after ten years	1,601
Asset and mortgage backed securities	41,829
Total	$ 278,373	$ 138,387
Percent of Total
Due in one year or less	37.50%
Due after one year through five years	34.90%
Due after five years through ten years	12%
Due after ten years	0.60%
Asset and mortgage backed securities	15%
Total	100%

Investments - Investment Income

Investments - Investment Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net Investment Income
Investment income	$ 6,222	$ 2,131	$ 15,664	$ 6,377
Investment expenses	(112)	(44)	(190)	(152)
Net investment income	6,110	2,087	15,474	6,225
Fixed Maturities
Net Investment Income
Investment income	2,513	691	4,499	2,352
Equity Securities
Net Investment Income
Investment income	120	0	185	81
Cash and cash equivalents
Net Investment Income
Investment income	3,236	1,473	10,332	4,055
Other Investments
Net Investment Income
Investment income	$ 353	$ (33)	$ 648	$ (111)

Investments - Schedule of Unrea

Investments - Schedule of Unrealized Loss on Investments (Details) $ in Thousands	Sep. 30, 2024 USD ($) security	Dec. 31, 2023 USD ($) security
U.S. Government and Agency Securities
Twelve Months or More
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | security	0	9
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 0	$ 3
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months	$ 0	$ 19,943
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | security	0	0
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 0	$ 0
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer	$ 0	$ 0
States, Municipalities and Political Subdivisions
Twelve Months or More
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | security	0	1
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 0	$ 7
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months	$ 0	$ 507
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | security	28	29
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 1,597	$ 2,197
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer	$ 16,277	$ 16,457
Public Utilities
Twelve Months or More
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | security	2	0
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 5	$ 0
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months	$ 529	$ 0
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | security	6	6
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 296	$ 438
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer	$ 3,392	$ 3,288
Corporate Securities
Twelve Months or More
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | security	19	1
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 41	$ 6
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months	$ 7,149	$ 511
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | security	81	85
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 5,253	$ 7,207
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer	$ 47,129	$ 46,708
Mortgage-backed securities
Twelve Months or More
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | security	1	1
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 1	$ 5
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months	$ 259	$ 269
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | security	63	69
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 4,708	$ 6,249
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer	$ 32,231	$ 34,353
Asset-backed Securities
Twelve Months or More
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | security	1	2
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 0	$ 3
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months	$ 126	$ 616
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | security	23	24
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 798	$ 1,203
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer	$ 8,462	$ 8,869
Fixed Maturities
Twelve Months or More
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | security	23	14
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 47	$ 24
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months	$ 8,063	$ 21,846
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | security	201	213
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 12,652	$ 17,294
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer	$ 107,491	$ 109,675

Investments - Schedule of Fair

Investments - Schedule of Fair Value of Financial Instruments Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Schedule of Available-for-sale Securities
Fair Value	$ 278,373	$ 138,387
Fixed maturities	278,373	138,387
Debt Securities, Trading, and Equity Securities, FV-NI	328,756	152,391
U.S. Government and Agency Securities
Schedule of Available-for-sale Securities
Fair Value	157,721	26,002
Fixed maturities	157,721	26,002
Foreign Government
Schedule of Available-for-sale Securities
Fair Value	439
Fixed maturities	439
States, Municipalities and Political Subdivisions
Schedule of Available-for-sale Securities
Fair Value	16,798	16,964
Fixed maturities	16,798	16,964
Public Utilities
Schedule of Available-for-sale Securities
Fair Value	4,764	3,288
Fixed maturities	4,764	3,288
Corporate Securities
Schedule of Available-for-sale Securities
Fair Value	56,822	48,026
Fixed maturities	56,822	48,026
Mortgage-backed securities
Schedule of Available-for-sale Securities
Fair Value	32,490	34,622
Fixed maturities	32,490	34,622
Asset-backed Securities
Schedule of Available-for-sale Securities
Fair Value	9,339	9,485
Fixed maturities	9,339	9,485
Fixed Maturities
Schedule of Available-for-sale Securities
Fair Value	278,373	138,387
Fixed maturities	278,373	138,387
Equity Securities
Schedule of Available-for-sale Securities
Fair Value	25,950
Fixed maturities	25,950
Other Long-term Investments
Schedule of Available-for-sale Securities
Fair Value	26,392
Fixed maturities	26,392
Mutual Fund
Schedule of Available-for-sale Securities
Equity securities, fair value	25,950	0
Short-term Investments
Schedule of Available-for-sale Securities
Fair Value	24,433	14,004
Fixed maturities	24,433	14,004
Level 1
Schedule of Available-for-sale Securities
Debt Securities, Trading, and Equity Securities, FV-NI	25,950	0
Level 1 | U.S. Government and Agency Securities
Schedule of Available-for-sale Securities
Fair Value	0	0
Fixed maturities	0	0
Level 1 | Foreign Government
Schedule of Available-for-sale Securities
Fair Value	0
Fixed maturities	0
Level 1 | States, Municipalities and Political Subdivisions
Schedule of Available-for-sale Securities
Fair Value	0	0
Fixed maturities	0	0
Level 1 | Public Utilities
Schedule of Available-for-sale Securities
Fair Value	0	0
Fixed maturities	0	0
Level 1 | Corporate Securities
Schedule of Available-for-sale Securities
Fair Value	0	0
Fixed maturities	0	0
Level 1 | Mortgage-backed securities
Schedule of Available-for-sale Securities
Fair Value	0	0
Fixed maturities	0	0
Level 1 | Asset-backed Securities
Schedule of Available-for-sale Securities
Fair Value	0	0
Fixed maturities	0	0
Level 1 | Fixed Maturities
Schedule of Available-for-sale Securities
Fair Value	0	0
Fixed maturities	0	0
Level 1 | Equity Securities
Schedule of Available-for-sale Securities
Fair Value	25,950
Fixed maturities	25,950
Level 1 | Other Long-term Investments
Schedule of Available-for-sale Securities
Other Investments	0	0
Level 1 | Mutual Fund
Schedule of Available-for-sale Securities
Equity securities, fair value	25,950
Level 2
Schedule of Available-for-sale Securities
Debt Securities, Trading, and Equity Securities, FV-NI	302,806	152,391
Level 2 | U.S. Government and Agency Securities
Schedule of Available-for-sale Securities
Fair Value	157,721	26,002
Fixed maturities	157,721	26,002
Level 2 | Foreign Government
Schedule of Available-for-sale Securities
Fair Value	439
Fixed maturities	439
Level 2 | States, Municipalities and Political Subdivisions
Schedule of Available-for-sale Securities
Fair Value	16,798	16,964
Fixed maturities	16,798	16,964
Level 2 | Public Utilities
Schedule of Available-for-sale Securities
Fair Value	4,764	3,288
Fixed maturities	4,764	3,288
Level 2 | Corporate Securities
Schedule of Available-for-sale Securities
Fair Value	56,822	48,026
Fixed maturities	56,822	48,026
Level 2 | Mortgage-backed securities
Schedule of Available-for-sale Securities
Fair Value	32,490	34,622
Fixed maturities	32,490	34,622
Level 2 | Asset-backed Securities
Schedule of Available-for-sale Securities
Fair Value	9,339	9,485
Fixed maturities	9,339	9,485
Level 2 | Fixed Maturities
Schedule of Available-for-sale Securities
Fair Value	278,373	138,387
Fixed maturities	278,373	138,387
Level 2 | Equity Securities
Schedule of Available-for-sale Securities
Fair Value	0
Fixed maturities	0
Level 2 | Other Long-term Investments
Schedule of Available-for-sale Securities
Other Investments	24,433	14,004
Level 2 | Mutual Fund
Schedule of Available-for-sale Securities
Equity securities, fair value	0
Level 3
Schedule of Available-for-sale Securities
Debt Securities, Trading, and Equity Securities, FV-NI	0	0
Level 3 | U.S. Government and Agency Securities
Schedule of Available-for-sale Securities
Fair Value	0	0
Fixed maturities	0	0
Level 3 | Foreign Government
Schedule of Available-for-sale Securities
Fair Value	0
Fixed maturities	0
Level 3 | States, Municipalities and Political Subdivisions
Schedule of Available-for-sale Securities
Fair Value	0	0
Fixed maturities	0	0
Level 3 | Public Utilities
Schedule of Available-for-sale Securities
Fair Value	0	0
Fixed maturities	0	0
Level 3 | Corporate Securities
Schedule of Available-for-sale Securities
Fair Value	0	0
Fixed maturities	0	0
Level 3 | Mortgage-backed securities
Schedule of Available-for-sale Securities
Fair Value	0	0
Fixed maturities	0	0
Level 3 | Asset-backed Securities
Schedule of Available-for-sale Securities
Fair Value	0	0
Fixed maturities	0	0
Level 3 | Fixed Maturities
Schedule of Available-for-sale Securities
Fair Value	0	0
Fixed maturities	0	0
Level 3 | Equity Securities
Schedule of Available-for-sale Securities
Fair Value	0
Fixed maturities	0
Level 3 | Other Long-term Investments
Schedule of Available-for-sale Securities
Other Investments	0	$ 0
Level 3 | Mutual Fund
Schedule of Available-for-sale Securities
Equity securities, fair value	$ 0

Investments - Schedule of Other

Investments - Schedule of Other Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Other Investments
Fair Value	$ 278,373	$ 138,387
Other Long-term Investments
Other Investments
Unrealized Loss	203
Unrealized Gain	302
Fair Value	26,392
Fixed maturities, cost	26,293	16,118
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax	302
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax	203
Short-term Investments
Other Investments
Unrealized Loss	0
Unrealized Gain	132
Fair Value	24,433	$ 14,004
Fixed maturities, cost	24,301
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax	132
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax	0
Limited Partnership
Other Investments
Unrealized Loss	203
Unrealized Gain	170
Fixed maturities, cost	1,992
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax	170
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax	203
Fair Value of Limited Partnership Interest	$ 1,959

Investments - Equity Securities

Investments - Equity Securities, FV-NI (Details) - Mutual Fund - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt and Equity Securities, FV-NI
Fair value	$ 25,950	$ 0
Percent of Total	100%	0%

Investments - Restricted Cash (

Investments - Restricted Cash (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Restricted Cash and Cash Equivalents Items
Assets Held-in-trust	$ 56,910	$ 17,439
Restricted Cash	57,251	18,070
Regulatory Assets, Fair Value Disclosure	$ 341	$ 631

Earnings per Share - Schedule o

Earnings per Share - Schedule of Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator
Net income attributable to UIHC common stockholders	$ 28,119	$ 10,568	$ 70,772	$ 295,627
Denominator
Weighted-average shares outstanding	48,066,358	43,301,388	47,742,744	43,220,084
Effect of dilutive securities	1,454,888	841,305	1,512,327	668,581
Weighted-average diluted shares	49,521,246	44,142,693	49,255,071	43,888,665
Basic earnings per share	$ 0.59	$ 0.24	$ 1.49	$ 6.84
Diluted earnings per share	$ 0.57	$ 0.24	$ 1.44	$ 6.73

Property and Equipment, Net (De

Property and Equipment, Net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 1,218	$ 296	$ 3,744	$ 1,026
Acccumulated Depreciation on disposed systems	98		98		$ 379
Leased Vehicle Disposal					1,069
Accumulated Depreciation - Leased Vehicles Disposed of					1,038
Gain on Leased Vehicle Disposal					559
Leasehold Improvement Disposal			311
Accumulated Depreciation - Leasehold improvements			232
Capitalized Software Disposal			147		1,061
Furniture Disposal			72		749
Accumulated Depreciation - Disposed Furniture			$ 69		$ 702
Asset Impairment Charges	$ 591

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment
Total, at cost	$ 15,970	$ 8,984
Less: Accumulated Depreciation and Amortization, Property, Plant, and Equipment	(8,670)	(5,326)
Property, Plant and Equipment, Net	7,300	3,658
Office Equipment
Property, Plant and Equipment
Total, at cost	688	748
Computer Equipment
Property, Plant and Equipment
Total, at cost	15,282	7,925
Leasehold Improvements
Property, Plant and Equipment
Total, at cost	$ 0	$ 311

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of Intangible Assets	$ 610	$ 812	$ 2,030	$ 2,436
Goodwill	59,476		59,476		$ 59,476
Goodwill, Impaired, Accumulated Impairment Loss	$ 10,156		$ 10,156
Gain (Loss) on Disposition of Intangible Assets				$ 200

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Acquired Finite-Lived Intangible Assets
Finite-Lived Intangible Assets, Gross	$ 41,042		$ 41,042
Finite-Lived Intangible Assets, Accumulated Amortization	(34,947)		(32,917)
Finite-Lived Intangible Assets, Net	6,095		8,125
Customer Relationships
Acquired Finite-Lived Intangible Assets
Finite-Lived Intangible Assets, Gross	34,661		34,661
Finite-Lived Intangible Assets, Accumulated Amortization	(28,566)		(26,738)
Finite-Lived Intangible Assets, Net	$ 6,095		7,923
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	2 years 6 months	3 years 3 months
Trade Names
Acquired Finite-Lived Intangible Assets
Finite-Lived Intangible Assets, Gross	$ 6,381		6,381
Finite-Lived Intangible Assets, Accumulated Amortization	(6,381)		(6,179)
Finite-Lived Intangible Assets, Net	$ 0		$ 202
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	0 years	3 months

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Future Amortization Expense (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Finite-Lived Intangible Asset, Expected Amortization, Remainder of Fiscal Year	$ 611
Finite-Lived Intangible Asset, Expected Amortization, Year One	2,438
Finite-Lived Intangible Asset, Expected Amortization, Year Three	2,438
Finite-Lived Intangible Asset, Expected Amortization, Year Four	608
Finite-Lived Intangible Asset, Expected Amortization, Year Four	0
Finite-Lived Intangible Asset, Expected Amortization, Year Five	$ 0

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Reconciliation (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Indefinite-lived Intangible Assets (Excluding Goodwill)	$ 423	$ 423
Finite-Lived Intangible Assets, Net	6,095	8,125
Intangible Assets, Net (Excluding Goodwill)	$ 6,518	$ 8,548

Reinsurance (Details)

Reinsurance (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2023	Jun. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Reinsurance Retention Policy
Document Period End Date					Sep. 30, 2024
Ceded premiums earned	$ (85,692)		$ (107,513)		$ (275,400)	$ (232,670)
Catastrophe Excess of Loss
Reinsurance Retention Policy
First Event Retention Level	20,500				20,500
Subsequent Event Retention Level	13,000				13,000
Interboro Insurance | Catastrophe Excess of Loss
Reinsurance Retention Policy
Reinsurance, Excess Retention, Amount Reinsured, Per Policy	82,500
Event Retention Level	2,500				2,500
American Coastal Insurance Company | Catastrophe Excess of Loss
Reinsurance Retention Policy
Reinsurance, Excess Retention, Amount Reinsured, Per Policy	1,610,000
Event Retention Level	10,000				10,000
Reinsurance, Excess Retention, Amount Reinsured, Per Event					1,260,000
American Coastal Insurance Company | All Other Perilds Catastrophe Excess of Loss
Reinsurance Retention Policy
Reinsurance, Excess Retention, Amount Reinsured, Per Policy					172,000
UPC Re | Catastrophe Excess of Loss
Reinsurance Retention Policy
First Event Retention Level	10,500				10,500
Subsequent Event Retention Level	$ 3,000				$ 3,000
Reinsurance Contract [Axis]: XOL Commutation
Reinsurance Retention Policy
Ceded premiums earned		$ 6,300		$ 15,700			$ (6,300)

Reinsurance Recoverables (Detai

Reinsurance Recoverables (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Reinsurance Recoverable
Reinsurance Recoverable for Unpaid Claims and Claims Adjustments	$ 113,871	$ 271,736	$ 337,265	$ 731,666
Reinsurance Recoverable for Paid Claims and Claims Adjustments	33,194	69,084
Reinsurance Recoverable for Paid and Unpaid Claims and Claims Adjustments	$ 147,065	$ 340,820

Liability for Unpaid Losses a_3

Liability for Unpaid Losses and Loss Adjustment Expenses (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Liability for Unpaid Claims and Claims Adjustment Expense
Unpaid losses and loss adjustment expenses	$ 173,322	$ 421,698	$ 347,738	$ 816,489
Reinsurance Recoverable for Unpaid Claims and Claims Adjustments	113,871	337,265	271,736	731,666
Liability for Unpaid Claims and Claims Adjustment Expense, Net	59,451	84,433	$ 76,002	$ 84,823
Current Year Claims and Claims Adjustment Expense	41,904	51,180
Prior Year Claims and Claims Adjustment Expense	(2,379)	11,212
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims	39,525	39,968
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid, Current Year	29,577	34,746
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid, Prior Years	26,499	5,612
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid	56,076	40,358
Liability for Unpaid Claims and Claims Adjustment Expense, Reported Claims, Amount	51,549	128,503
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred but Not Reported (IBNR) Claims, Amount	$ 121,773	$ 293,195

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($) $ in Thousands	Dec. 13, 2017	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument
Notes Payable		$ 148,937	$ 148,688
150M Senior Notes
Debt Instrument
Notes Payable	$ 150,000
Interest rate (percentage)	6.25%
Debt Instrument, Term	10 years

Schedule of Long-Term Debt (Det

Schedule of Long-Term Debt (Details)	Dec. 13, 2017 Rate
150M Senior Notes
Debt Instrument
Interest rate (percentage)	6.25%

Debt Issuance Cost Rollforward

Debt Issuance Cost Rollforward (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Accumulated Amortization, Debt Issuance Costs	$ (249)		$ (249)
Debt Issuance Costs, Net	$ 1,063	$ 1,312	$ 1,396	$ 1,645

Commitments and Contingencies_2

Commitments and Contingencies Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Lease Costs
Operating Lease, Expense	$ 58	$ 208	$ 103	$ 624
Finance Lease, Right-of-Use Asset, Amortization	0	0	0	9
Lease, Cost	$ 58	$ 208	$ 103	$ 633

Commitments and Contingencies_3

Commitments and Contingencies Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Lessee, Lease, Description
Operating Lease, Right-of-Use Asset	$ 24	$ 562
Total Lease Assets	24	562
Operating Lease, Liability	23	739
Total Lease Liability	$ 23	$ 739

Commitments and Contingencies W

Commitments and Contingencies Weighted Average Lease Terms (Details)	Sep. 30, 2024 Rate	Dec. 31, 2023 Rate
Weighted Average Terms
Operating Lease, Weighted Average Discount Rate, Percent	3.78%	3.29%
Operating Lease, Weighted Average Remaining Lease Term	1 year 5 months	1 year 5 months

Commitments and Contingencies S

Commitments and Contingencies Schedule of Future Minimum Rental Payments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Schedule of Future Minimum Rental Payments
Total Lease Future Payments Year 1	$ 5
Total Lease Future Payments Year 2	19
Total Lease Future Payments Year 3	3
Total Lease Future Payments Year 4	0
Total Lease Future Payments	27
Total Lease Liability Undiscounted Excess Amount	(4)
Operating Lease, Liability	23	$ 739
Total Lease Liability	$ 23	$ 739

Commitments and Contingencies N

Commitments and Contingencies Narrative (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Loss Contingency, Estimate of Possible Loss	$ 5,718
Gain Contingency, Unrecorded Amount	10,161
Sublease Income	33
Director and Office Liability Insurance Limit	40,000
Loss Contingency Accrual	$ 1,500

Credit Losses (Details)

Credit Losses (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Credit Loss Allowance Activity
Premium Receivable, Allowance for Credit Loss	$ 17	$ 20	$ 49	$ 31
Reinsurance Recoverable, Allowance for Credit Loss	39	107	97	333
Financing Receivable, Allowance for Credit Loss	0		0
Total Credit Loss Allowances	56	127	$ 146	$ 364
Premium Receivable, Credit Loss Expense (Reversal)	(32)	(13)
Reinsurance Recoverable, Credit Loss Expense (Reversal)	(58)	(226)
Total Credit Loss Allowance Expenses	(90)	(239)
Premium Receivable, Allowance for Credit Loss, Writeoff	0	2
Reinsurance recoverable, allowance for credit loss, writeoff	0	0
Total Credit Loss Allowance Writeoffs	$ 0	$ 2

Statutory Accounting and Regu_2

Statutory Accounting and Regulation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Insurance [Abstract]
Statutory capital and surplus balance	$ 236,479		$ 236,479		$ 166,113
Statutory Net Income [Line Items]
Statutory net income (loss)	27,990	$ 17,859	69,129	$ 74,491
Statutory capital and surplus balance	236,479		236,479		166,113
Statutory net income (loss)	27,990	17,859	69,129	74,491
American Coastal Insurance Company
Insurance [Abstract]
Statutory capital and surplus balance	214,277		214,277		143,452
Statutory Net Income [Line Items]
Statutory net income (loss)	27,821	18,668	69,761	77,781
Statutory capital and surplus balance	214,277		214,277		143,452
Statutory net income (loss)	27,821	18,668	69,761	77,781
Interboro Insurance
Insurance [Abstract]
Statutory capital and surplus balance	22,202		22,202		22,661
Statutory Net Income [Line Items]
Statutory net income (loss)	169	(809)	(632)	(3,290)
Statutory capital and surplus balance	22,202		22,202		$ 22,661
Statutory net income (loss)	$ 169	$ (809)	$ (632)	$ (3,290)

Schedule of Accumulated Other C

Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss)
AOCI before Tax, Attributable to Parent	$ (12,718)		$ (12,718)		$ (20,238)
Accumulated Other Comprehensive Income (Loss), Tax (Expense) Benefit	1,101		1,101		3,101
Accumulated Other Comprehensive Income (Loss), Net of Tax	(11,617)		(11,617)		$ (17,137)
OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment and Tax	(7,529)	$ 2,761	(7,404)	$ 698
Reclassification adjustment for net realized investment (gains) losses	$ 3	$ (2)	124	6,806
Impact of Deconsolidation on OCI - Discontinued Operations.			(1,007)
Impact of Deconsolidation of Discontinued Operations - Tax			(2,000)
Impact of Deconsolidation of Discontinued Operations			(8)
Comprehensive Income
Accumulated Other Comprehensive Income (Loss)
Impact of Deconsolidation on OCI - Discontinued Operations.			(2,008)	$ 1,004
Consolidated Entity Excluding Noncontrolling Interests
Accumulated Other Comprehensive Income (Loss)
OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment and Tax			7,404
OCI, Debt Securities, Available-for-Sale, Gain (Loss), before Adjustment, Tax			31
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax			7,435
Reclassification adjustment for net realized investment (gains) losses			124
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax			(31)
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent			$ 93

Stockholders' Equity Narrative

Stockholders' Equity Narrative (Details)	9 Months Ended
	Sep. 30, 2024 USD ($) shares
Stockholders' Equity Narrative [Abstract]
Stock Repurchase Program, Authorized Amount	$ 25,000,000
Shares available for issuance under at the market offering | shares	8,000,000
Payments of Stock Issuance Costs	$ 1,181,000
Sale of Stock, Consideration Received on Transaction	$ 38,190,000
Shares Issued Under At the Market Program | shares	4,373,000

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-based Compensation Expense (Details) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($) year	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) year $ / shares shares	Sep. 30, 2023 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award
Granted shares | shares			196,275
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares			$ 4.82
Employee
Share-based Compensation Arrangement by Share-based Payment Award
Unrecognized Stock Compensation Expense	$ 3,329		$ 3,329
Weighted average remaining expense period | year	2.1		2.1
Pre-Tax Expense	$ 556	$ 350	$ 1,593	$ 738
Post-Tax Expense	439	277	1,258	583
Director
Share-based Compensation Arrangement by Share-based Payment Award
Unrecognized Stock Compensation Expense	$ 340		$ 340
Weighted average remaining expense period | year	0.6		0.6
Pre-Tax Expense	$ 138	60	$ 310	115
Post-Tax Expense	$ 109	$ 47	$ 245	$ 91

Stock-Based Compensation - Non-

Stock-Based Compensation - Non-Vested Common Stock Grants (Details) - Restricted Stock - $ / shares	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award
Granted shares	96,967	598,713	45,000
Less: Forfeited shares		1,476
Less: Vested shares		436,472
Outstanding shares	606,411	606,411		445,646
Granted (fair value)	$ 7.88	$ 7.41	$ 5.25
Less: Forfeited (fair value)		4.56
Less: Vested (fair value)		3.36
Outstanding (fair value)	$ 6.23	$ 6.23		$ 2.64

Stock-Based Compensation - Weig

Stock-Based Compensation - Weighted-Average Assumptions - Stock Options (Details)	9 Months Ended
	Sep. 30, 2024 Rate	Sep. 30, 2023 Rate
Share-based Compensation Arrangement by Share-based Payment Award
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	6 years	6 years
Expected volatility	86.92%	80.84%
Risk-free interest rate	4.37%	3.44%

Stock-Based Compensation - No_2

Stock-Based Compensation - Non-Vested Stock Options (Details) - USD ($)	9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Share-based Payment Arrangement, Option, Exercise Price Range
Granted shares	196,275
Less: Forfeited shares	0
Outstanding shares	1,130,035		1,028,760
Vested Shares	1,276,019
Exercisable shares	840,768
Granted (Weighted-Average Exercise)	$ 4.82
Less: Forfeited (Weighted-Average Exercise)	0
Less: Exercised, (Weighted Average Exercise Price)	2.35
Outstanding (Weight-Average Exercise)	4.12		$ 3.83
Vested (Weighted-Average Exercise)	4.30
Exercisable (Weighted-Average Exercise)	$ 4.30
Outstanding Options, weighted average remaining contractual term	7 years 6 months		7 years 10 months
Vested weighted average remaining contractual term	7 years
Exercisable weighted average remaining contractual term	7 years
Granted Options, Intrinsic Value	$ 0
Forfeited Options, Intrinsic Value	0
Share-based Compensation Arrangements by Share-based Payment Award, Options, Expirations in Period, Weighted Average Exercise Price	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period	0
Exercised Options, Intrinsic Value	$ 0
Outstanding Options, Intrinsic Value	8,360,000		$ 6,151,000
Vested Options, Intrinsic value	6,147,000
Exercisable Options, Intrinsic Value	$ 6,147,000
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	6 years	6 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 4.82
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period	95,000

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	3 Months Ended	9 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Oct. 29, 2024	Oct. 01, 2024
Subsequent Event
Asset & Liability - Headquarter Lease				$ 3,256,000
Milton Retention, Net of Tax	$ 16.2
Milton Reinstatement Premiums	13
Citizens Assumption Premium			$ 10.7
Subsequent Events		SUBSEQUENT EVENTS We evaluate all subsequent events and transactions for potential recognition or disclosure in our financial statements. Effective October 1, 2024, the Company's new headquarter office lease located in Suite 100 in the building at 570 Carillon Parkway, St. Petersburg, Florida 33176 commenced. This lease will expire February 28, 2035 unless extended or sooner terminated within the terms of the lease. The Company will recognize a right-of-use operating asset and operating lease liability of $3,256,000 associated with this lease on the date of commencement. On October 9, 2024, Hurricane Milton made landfall in Florida as a category three hurricane. The Company estimates net current accident quarter catastrophe losses incurred from Hurricane Milton to be approximately $16.2 million, net of tax impacts. $7.9 million of this impact is retained by AmCoastal, with $8.3 million being retained by the Company's captive reinsurance entity. The Company also expects to incur $13.0 million of reinstatement premiums that will be amortized as ceded premiums earned over the remaining eight month coverage period, from October 2024 through May 2025.
American Coastal Insurance Company
Subsequent Event
Milton Retention, Net of Tax	7.9
UPC Re
Subsequent Event
Milton Retention, Net of Tax	$ 8.3