First Acceptance (FACO) Stock News

First Acceptance Corporation (OTCQX:FACO) announced that its subsidiary, First Acceptance Insurance Company, has launched FAIC Insurance in Louisiana, adding a new state to its coverage footprint. The offering gives approximately 3.3 million licensed drivers in Louisiana an additional option for auto insurance coverage.

According to First Acceptance, policies will be available through independent insurance agents and online at firstacceptance.com. The company highlights more than 50 years of experience across 16 states and a focus on non-standard auto customers who may struggle to find coverage. FAIC is also investing in technology and digital tools to simplify quoting, policy access, payments and claims handling for both customers and agents.

Pouch Insurance launched its Micro-Fleet Rideshare commercial auto program in Tennessee, underwritten by First Acceptance Insurance Company of Tennessee, a subsidiary of First Acceptance Corporation (NASDAQ:FACO). The admitted product targets gig-economy fleet owners, covering off-platform driving periods that major Transportation Network Companies do not insure.

The program serves fleets up to 25 vehicles, uses telematics-based per-mile pricing limited to off-platform exposure, rewards safe driving and strong fleet management, and is intended to expand beyond Tennessee over time.

First Acceptance Corporation (OTCQX:FACO) reported results for the quarter ended March 31, 2026. Revenues before ceded reinsurance rose 4% to $154.0 million; revenues after ceded reinsurance fell 5% to $118.4 million. Net income was $8.2 million; diluted EPS $0.22.

Management cited market softness, inflationary loss-cost impacts, and continued focus on pricing, underwriting, and strategic distribution opportunities.

First Acceptance Corporation (OTCQX:FACO) reported results for the quarter and year ended December 31, 2025. Net income was $30.2 million for 2025, up from $26.3 million in 2024, and diluted EPS rose to $0.80 from $0.67. Book value per share increased to $5.45 from $4.44.

Revenues before ceded reinsurance were $613.5 million in 2025; ceded premiums rose to $107.2 million due to a reinsurance contract effective July 1, 2024, and revenues after ceded reinsurance were $506.3 million.

First Acceptance Corporation (OTCQX:FACO) announced the appointment of Corey G. Prestidge to its Board of Directors, effective November 4, 2025.

Following the appointment the board will total ten directors, with seven independent directors. Mr. Prestidge is a practicing attorney with over 25 years in corporate and securities law, has served as General Counsel and Secretary of Hilltop Holdings since January 2008, and has provided legal services to First Acceptance since 2012. His prior roles include assistant general counsel at Mark Cuban Companies and associate at Jenkens & Gilchrist. He holds a B.S. in Economics and a J.D. from Southern Methodist University.

First Acceptance Corporation (OTCQX:FACO) reported results for the quarter and nine months ended September 30, 2025. Q3 revenues were $140.7M, up 9% year‑over‑year. Nine‑month revenues before ceded reinsurance rose 6% to $482.3M, while revenues after ceded reinsurance fell 6% to $406.4M due to ceded premiums of $75.9M (nine months) versus $24.4M prior year. Q3 income before taxes was $13.2M and net income $10.2M (diluted EPS $0.27) versus $6.9M, $5.4M and $0.14 in Q3 2024. Nine‑month net income was $21.0M (diluted EPS $0.55) versus $18.1M ($0.46) prior year.

Management cited improved claims handling, leveling claim costs and pricing actions, noting earlier 2025 increases in physical damage severities have partially stabilized.

First Acceptance Corporation (OTCQX:FACO) announced two board appointments effective October 6, 2025. Craig Gentry and Raimundo Ruiz join the Board; Gentry will also serve on the Audit Committee and Ruiz will serve on the Risk Committee. Following the additions, the Board totals nine directors, including seven independent members.

Mr. Gentry brings over 35 years of insurance distribution and sales leadership, including Regional Sales Manager at Progressive (1999–2021) and VP-Sales at Polly (2021–2022). Mr. Ruiz brings over 35 years in personal lines, program development and underwriting, including CEO of Patriot General (since Nov 2022) and prior executive roles at Embark General and Confie.

First Acceptance Corporation (OTCQX:FACO) reported strong Q2 2025 financial results, marking its tenth consecutive profitable quarter. The company achieved net income of $7.9 million ($0.21 per diluted share) for Q2 2025, up from $5.8 million ($0.15 per share) in Q2 2024.

The company recognized favorable prior period loss development of $7.8 million in Q2 2025, compared to unfavorable development of $4.8 million in Q2 2024. However, revenues were impacted by ceded premiums of $24.9 million due to a new reinsurance agreement effective July 1, 2024. The company's book value per share reached a record $4.85 as of June 30, 2025.

First Acceptance Corporation (OTCQX:FACO) reported its Q1 2025 financial results, showing a significant decline in performance. The company's income before taxes decreased to $3.8 million from $8.9 million in Q1 2024. Net income fell to $2.9 million ($0.08 per diluted share) compared to $6.9 million ($0.18 per diluted share) in the same period last year.

The company recognized $0.2 million in unfavorable prior period loss development, down from $3.9 million in Q1 2024. Revenues were impacted by $23.3 million in ceded premiums earned from a new reinsurance agreement effective July 1, 2024. CEO Ken Russell attributed the performance decline to increased physical damage loss severity, citing marketplace price increases due to anticipated tariffs on imported vehicles and auto parts.