Ategrity Specialty Insurance Company (ASIC) investor relations material

Executive summary

• Achieved record quarterly results with highest-ever written premiums, underwriting income, and net income, driven by technology-enabled underwriting, expanded distribution, and a single reportable segment structure focused on E&S lines for SMBs.

• Gross written premiums rose 23.4% to $206.8 million, with broad-based growth in both casualty and property lines, supported by regional strategies and new products.

• Underwriting income increased 66.9% to $16.0 million, reflecting improved expense ratio and scale benefits.

• Investments in technology, AI, and modular underwriting platform enabled scalable growth and improved efficiency.

• Share repurchase program initiated, with $2.8 million in shares repurchased during the quarter and $47.2 million remaining authorized.

Financial highlights

• Adjusted net income attributable to stockholders was $33.5 million, or $0.67 per diluted share, nearly doubling year-over-year.

• Gross written premiums for Q2 2026 rose 23.4% to $206.8M; net written premiums up 30.8% to $153.4M; net earned premiums up 30.9% to $113.8M.

• Underwriting income reached $16 million, up 66.9% year-over-year; combined ratio improved to 85.9% from 88.9%.

• Net investment income was $12.7 million, up from $11.9 million; realized/unrealized gains totaled $18.6 million, up from $1.4 million.

• Book value per share ended at $13.86, up 8.5% from year-end and 31% since IPO; stockholders' equity increased to $664.4 million.

Outlook and guidance

• Expects gross written premiums to grow more than 20 percentage points above E&S market in Q3, with continued margin improvement and combined ratio guidance of approximately 87%.

• Management anticipates continued profitable growth, leveraging automation and analytics to drive efficiencies and attractive returns.

• Sufficient liquidity and capital resources are available to meet obligations and support growth for the next twelve months.