United Insurance Holdings Corp. (Nasdaq: UIHC), the insurance holding company of American Coastal Insurance Company (“AmCoastal”), announced today that it has changed its corporate name to ‘American Coastal Insurance Corporation’ (“the Company” “American Coastal” or “ACIC”). The Company will begin trading on NASDAQ under the ticker symbol ‘ACIC’, prior to market open on August 15, 2023.
The new ticker replaces the current ticker symbol ‘UIHC,’ which has been used since the Company’s formation and initial public offering on the over-the-counter (OTC) market in 2007, and subsequent listing on The Nasdaq Capital Market in 2012. The rebranding follows the expanded emphasis on AmCoastal’s commercial residential business and marks the evolution of its business.
“This year has been transformational for our company, employees and the customers we serve,” said Mr. R. Daniel Peed, Chairman of the Board and Chief Executive Officer. “The rebranding honors the heritage and credibility of AmCoastal throughout our overall mission and values. AmCoastal is a leader in the industry with the number one market share in Florida commercial residential condominium associations. With our deep underwriting experience and expertise in this niche market, we believe we are well-positioned to drive continued profitable operations.”
He continued, “We are excited to continue the momentum generated by AmCoastal’s year-to-date performance. Our goal is to create a cohesive identity across our companies that represents and honors our hard work and resiliency. We are confident in our long-term outlook and our ability to continue the profitability we have seen since the inception of AmCoastal in 2007.”