Ategrity Specialty Insurance Company (ASIC) investor relations material

Executive summary

• Q3 2026 combined ratio reached a record-low 84.7%; underwriting income rose 83.7% to $19.5 million, while gross written premiums increased 14.7% to $165.0 million and submissions grew 30%.

• Deliberate casualty rate increases and Next-Gen implementation tempered near-term production; stronger capacity and growth opportunities supported the Q4 outlook.

Financial highlights

• Net income attributable to stockholders was $14.6 million, or $0.29 per diluted share, versus $22.7 million and $0.45 a year earlier; adjusted net income was $14.7 million.

• Total revenues were $125.6 million versus $116.1 million YoY; net written premiums rose 25.8% and net earned premiums increased 35.7%.

• Fee income increased to $2.6 million from $2.2 million, supported by standard policy fees introduced during 2025.

• Nine-month net income attributable to stockholders rose to $73.5 million from $48.7 million; adjusted net income was $73.8 million versus $49.2 million.

Outlook and guidance

• Q4 gross written premium growth expected to exceed E&S market growth by 15–20 percentage points; combined ratio expected below 87%.

• Next-Gen adoption is beginning to improve throughput and response times; additional underwriting capacity is expected to support productivity.

• Management said the 2027 trajectory remains unchanged but provided no 2027 growth outlook; Q4 market-growth guidance allows for variability in stamping data.

• Strategy centers on expanding specialty products, distribution and underwriting technology to capture market share and support profitable growth.