American Coastal Insurance Corporation Completes Disposition of Personal Insurance Operations

American Coastal Insurance Corporation Announces the Sale of Its Personal Lines Subsidiary, Interboro

April 25, 2023 - (GLOBE NEWSWIRE) - American Coastal Insurance Corporation, a leading provider of specialty insurance products, today announced that it has sold its personal lines subsidiary, Interboro, to a private investment firm.

The sale marks the culmination of a strategic review of the company's portfolio, with American Coastal focusing on its core specialty insurance business. Interboro, which has been a subsidiary of American Coastal since 2015, will continue to operate independently and maintain its commitment to providing exceptional service to its customers.

"We are pleased to have reached this agreement, which allows us to focus on our core strengths and further grow our specialty insurance business," said John E. Conti, President and CEO of American Coastal. "Interboro has been a valuable addition to our portfolio, and we are confident that its new owners will continue to build on its success."

The sale is effective immediately, and all employees of Interboro will remain with the company. The financial terms of the transaction were not disclosed.

About American Coastal Insurance Corporation

American Coastal Insurance Corporation is a leading provider of specialty insurance products, including homeowners, commercial property, and flood insurance. With a focus on providing exceptional service and innovative solutions, the company has established itself as a trusted partner for insurance agents, brokers, and their clients.

Contact: John E. Conti President and CEO American Coastal Insurance Corporation (555) 555-5555 jconti@amcoastal.com