American Coastal Insurance Announces The Sale Of 100% Of The Issued And Outstanding Stock Of Interboro Insurance To Forza Insurance; Financial Terms Of The Transaction Not Disclosed

American Coastal Insurance Corporation (Nasdaq Ticker: ACIC) ("the Company", "American Coastal" or "ACIC"), the insurance holding company of Interboro Insurance Company ("Interboro"), a New York domiciled insurance company, announced today that it has signed definitive agreements with Forza Insurance Holdings, LLC ("Forza") in which ACIC will sell and Forza will acquire 100% of the issued and outstanding stock of Interboro. Closing is subject to the approval of the New York Department of Financial Services. The transaction completes the run-off of ACIC's personal lines portfolio and allows ACIC to focus on its fast-growing commercial specialty property portfolio.

Concurrently, Interboro and SageSure entered into a Program Administrator Agreement and a Claims Services Agreement on May 9, 2024. Under the terms of these service agreements, SageSure will provide policy administration, underwriting and claims administration services on behalf of Interboro.