AMERICAN COASTAL INSURANCE Corp

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

For the quarterly period ended September 30,2026

OR

For the transition period from ________ to ________

Commission File Number 001-35761

American Coastal Insurance Corporation

(Exact Name of Registrant as Specified in its Charter)

727-633-0851

(Registrant's telephone number, including area code)

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.

If an emerging growth company, indicate by check mark if the registrant has elected to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).☐ Yes☑ No

As of November 2, 2026,47,289,189 shares ofcommon stock, par value $0.0001 per share, were outstanding.

Throughout this Quarterly Report on Form 10-Q (Form 10-Q), the Company presents amounts in all tables in thousands, except for share amounts, per share amounts, policy counts or where more specific language or context indicates a different presentation. In the narrative sections of this Form 10-Q, the Company shows full values rounded to the nearest thousand.

FORWARD-LOOKING STATEMENTS

This Form 10-Q contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements about anticipated growth in revenues, gross written premium, earnings per share, estimated unpaid losses on insurance policies, investment returns, and diversification and expectations about our liquidity, our ability to meet our investment objectives, our ability to manage and mitigate market risk with respect to our investments and our ability to continue as a going concern. Without limiting the generality of the foregoing, words such as “may,” “will,” “expect,” “endeavor,” “project,” “believe,” “plan,” “anticipate,” “intend,” “could,” “would,” “estimate,” or “continue” or the negative variations thereof or comparable terminology are intended to identify forward-looking statements. These statements are based on current expectations, estimates and projections about the industry and market in which we operate, and management's beliefs and assumptions. Forward-looking statements are not guarantees of future performance and involve certain known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. The risks and uncertainties include, without limitation:

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our exposure to catastrophic events and severe weather conditions;

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the regulatory, economic and weather conditions present in Florida, the state in which we write business;

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our ability to cultivate and maintain agent relationships, particularly our relationship with AmRisc, LLC (AmRisc);

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the possibility that actual claims incurred may exceed our loss reserves for claims;

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assessments charged by various governmental agencies;

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our ability to implement and maintain adequate internal controls over financial reporting;

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our ability to maintain information technology and data security systems, and to outsource relationships;

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our use of AI and its use by our third-party providers;

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our reliance on key vendor relationships, and the ability of our vendors to protect the personally identifiable information of our customers, claimants or employees;

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our ability to attract and retain the services of senior management;

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risks and uncertainties relating to our mergers, dispositions and other strategic transactions;

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risks associated with investments in which we share ownership or management with third parties;

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our ability to generate sufficient cash to service all of our indebtedness and comply with covenants and other requirements related to our indebtedness;

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our ability to maintain our market share;

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changes in the regulatory environment present in the states in which we operate;

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the impact of new federal or state regulations that affect the insurance industry;

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the cost, viability and availability of reinsurance;

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our ability to collect from our reinsurers or others on our reinsurance claims;

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our ability to accurately price risks we underwrite and apply loss limitation methods;

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our ability to pay claims accurately and timely;

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dependence on investment income and the composition of our investment portfolio and related market risks;

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the possibility of the pricing and terms for our products to decline due to the historically cyclical nature of the property and casualty insurance and reinsurance industry;

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the outcome of litigation pending against us, including the terms of any settlements;

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downgrades in our financial strength or stability ratings;

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the impact of future transactions of substantial amounts of our common stock by us or our significant stockholders on our stock price;

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our ability to pay dividends in the future, which may be constrained by our holding company structure;

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the ability of our subsidiaries to pay dividends in the future, which may affect our liquidity and our ability to meet our obligations;

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the ability of R. Daniel Peed and his affiliates to exert significant control over us due to substantial ownership of our common stock, subject to certain restrictive covenants that may restrict our ability to pursue certain opportunities;

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the impact of transactions by R. Daniel Peed and his affiliates on the price of our common stock;

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provisions in our charter documents that may make it harder for others to obtain control of us; and

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other risks and uncertainties described in the section entitled "Risk Factors" in Part I, Item 1A in our Annual Report on Form 10-K for the year ended December 31, 2025 and in Part II, Item 1A of this Form 10-Q.

We caution you not to rely on these forward-looking statements, which are valid only as of the date they were made. Except as may be required by applicable law, we undertake no obligation to update or revise any forward-looking statements to reflect new information, the occurrence of unanticipated events or otherwise.