First Acceptance Corporation

First Acceptance Corporation Awarded on TIME's America's Growth Leaders 2027 Ranking

First Acceptance Corporation was named to TIME and Statista's America's Growth Leaders 2027 list, honoring companies for growth performance, financial stability, and stock performance. The company underwrites non-standard personal automobile insurance through the First Acceptance Insurance Group, sold primarily via independent agents. The recognition is a brand and marketing milestone with no disclosed financial figures or operational changes.

•4h ago

First Acceptance Corporation Reports Operating Results for the Three and Six Months Ended June 30, 2026

First Acceptance Corporation reported Q2 net income of $10.1 million, up 28% year-over-year, marking its 14th consecutive profitable quarter. Gross premiums earned increased to $146.3 million while the combined ratio improved to 93.6% from 95.9% in the prior year. For the six-month period, net income rose 69% to $18.3 million with diluted EPS of $0.48, compared to $0.28 in the prior year. Book value per share increased to $5.80 from $5.45 at the end of 2025. Management cited solid execution and strategy, noting the recent launch in Louisiana as a model for future disciplined growth through partnerships.

•2mo ago

Factorial and SK On Sign MoU to Explore Solid-State Battery Manufacturing

Factorial signed a non-binding MoU with SK On to evaluate the manufacturing feasibility of its solid-state batteries using SK On’s global infrastructure. The partnership leverages SK On’s 200+ GWh capacity and expertise to validate Factorial’s FEST technology, supporting a capital-light industrialization strategy. While terms are not final, the collaboration connects Factorial with a key supplier for Ford, Hyundai, and VW.

•2mo ago

Factorial Secures First Commercial Aerospace Order for Advanced Battery Cells

Factorial announced its first commercial order for drone battery cells, marking its entry into the aerospace sector following successful integration and flight testing. The company will supply high-energy-density lithium-metal cells to a U.S.-based pack integrator, utilizing technology that demonstrated a more than 30% increase in flight range during tests. CEO Siyu Huang noted that this order validates the company's qualification standards, which were previously established through automotive partnerships with Mercedes-Benz and Stellantis.

•3mo ago

First Acceptance Announces Expansion Into Louisiana

First Acceptance expanded its operations into Louisiana, offering its non-standard auto insurance products to approximately 3.3 million licensed drivers in the state. The expansion marks the company's entry into its 17th state, leveraging its 50-year history of serving customers who may have difficulty finding coverage elsewhere. Policies will be distributed through independent agents and direct online channels, supported by the company's digital tools for quotes and claims management.

•3mo ago

Factorial and Tulip Seal Strategic Partnership after Successful Flight Test

Factorial announced a strategic partnership with Tulip Tech to commercialize solid-state batteries for drones after flight testing demonstrated a 30% increase in range. The agreement establishes a framework for joint customer engagement and a roadmap to volume production, expanding Factorial's reach into aerospace applications. Tulip Tech, which supplies over 250 customers including NASA and produces 100,000 battery packs monthly, will integrate Factorial's cells to target the growing UAV market.

•3mo ago

Pouch Insurance Launches Micro-Fleet Rideshare Program in Partnership With First Acceptance Corporation

First Acceptance Corporation (FACO) announced the launch of the Micro-Fleet Rideshare program, an admitted commercial auto product underwritten by its Tennessee subsidiary in partnership with Insurtech Pouch Insurance. The product targets a critical coverage gap for gig-economy fleet owners: liability exposure when drivers are operating vehicles but their TNC platform apps (e.g., Uber, Lyft) are inactive. Pricing is based on a per-mile telematics structure that charges only for off-platform exposure, with discounts for safe driving behavior. The program supports fleets of up to 25 vehicles and launches in Tennessee with plans for national expansion.

•5mo ago

First Acceptance Corporation Reports Operating Results for the Quarter Ended March 31, 2026

First Acceptance reported Q1 net revenues of $118.4 million, down 5% year-over-year, though revenues before ceded reinsurance grew 4% to $154.0 million. Net income nearly tripled to $8.2 million, or $0.22 per diluted share, driven by a significant improvement in the combined ratio to 94.4% from 99.8%. Book value per share increased 21% to $5.57, with management highlighting continued execution despite market pressure.

•5mo ago