Agreement Removes Fixed Expiration Date and Requires 48 Months’ Advance Notice to Terminate, Providing a Minimum Four-Year Term at All Times
ST. PETERSBURG, Fla., Sept. 14, 2026 (GLOBE NEWSWIRE) — American Coastal Insurance Corporation (Nasdaq Ticker: ACIC) (“the Company”, “American Coastal” or “ACIC”), the insurance holding company of American Coastal Insurance Company (“AmCoastal”), announced today that AmCoastal and AmRisc, LLC (“AmRisc”) have restructured their exclusive managing agency agreement, effective July 1, 2026, to remove the agreement’s fixed expiration date. The prior agreement, extended in June 2024, was scheduled to expire on January 1, 2029.
The restructured agreement provides for successive one-year terms that automatically renew, and requires either party to provide 48 months’ advance written notice in order to terminate the agreement for convenience, with the agreement remaining in full force and effect through the notice period. As a result, the agreement has no fixed expiration date and will remain in effect for a minimum of four years from the date any such notice is given.
AmRisc has been AmCoastal’s exclusive distribution and underwriting partner since 2007. AmRisc sources and underwrites the Florida commercial-residential portfolio, and has been profitable in every year since inception. AmRisc is also the Company’s partner in excess and surplus lines. The quota share supporting AmRisc’s nationwide E&S commercial property book added premium to our growing excess and surplus portfolio. Removing the fixed expiration date secures the distribution source behind the Company’s core Florida franchise and the durability of the broader AmRisc relationship.
“AmRisc has been our exclusive distribution and underwriting partner since 2007, and this agreement puts that partnership on a permanent footing,” said Brad Martz, President & CEO. “By removing the fixed expiration date and requiring four years’ notice to terminate, we have given shareholders long-term visibility into the franchise that has produced an underwriting profit every year since inception, and a strong foundation under our most important distribution relationship.”
About American Coastal Insurance Corporation:
American Coastal Insurance Corporation (amcoastal.com) is the holding company of the insurance carrier, American Coastal Insurance Company, which was founded in 2007 for the purpose of insuring Condominium and Homeowner Association properties, Apartments and Assisted Living Facilities in the state of Florida. American Coastal Insurance Company has an exclusive partnership for distribution of Condominium Association properties in the state of Florida with AmRisc Group (amriscgroup.com), one of the largest Managing General Agents in the country specializing in hurricane-exposed properties. American Coastal Insurance Company has earned an “A”, (“Exceptional”) Financial Stability Rating from Demotech and maintains an “A” insurance financial strength rating with a Stable outlook from KBRA. ACIC maintains a “BBB” issuer rating with a Stable outlook from KBRA.
Contact Information:
Alexander Baty
Vice President, Finance & Investor Relations, American Coastal Insurance Corporation
investorrelations@amcoastal.com
(727) 425-8076
Glen Akselrod
President & Founder, Bristol Investor Relations
ga@bristolir.com
(905) 326-1888
