American Integrity Insurance Group (AII) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 83.0% YoY to $113.5M; net income increased to $28.4M from $13.2M, or $1.44 diluted EPS, while adjusted net income was $28.3M.

• Voluntary production accelerated, and a lower quota-share cession increased retained premiums and underwriting economics; disciplined risk selection remained a priority.

• Policies in force grew 18.6% to 481,446; Q3 combined ratio improved to 70.6% from 78.9%.

Financial highlights

• Q3 gross premiums written rose 22.7% to $293.3M; net premiums earned increased 94.5% to $101.2M.

• Q3 underwriting income rose to $30.8M from $11.6M; net investment income increased 21.9% to $8.4M.

• Q3 adjusted net income was $28.3M versus $14.0M, up 102.6%; adjusted diluted EPS was $1.44.

• 9M revenue increased 53.3% to $319.6M; net income rose 4.6% to $82.4M, while adjusted net income was $83.1M versus $83.4M.

• 9M diluted EPS was $4.20 versus $4.66; adjusted diluted EPS was $4.24 versus $4.94.

Outlook and guidance

• 2026 treaty-year catastrophe reinsurance premiums are expected to total $430M–$440M.

• Management expects favorable June 1, 2027 reinsurance pricing, subject to industry losses, capacity, and renewal conditions; Isaias is not expected to materially change the outlook based on current information.

• 2027 growth priorities include South Florida, middle-aged homes, dwelling fire in expansion states, and growth through existing and expanded agency relationships; risk-adjusted returns remain the priority.

• Further state expansion and new products within the existing out-of-state footprint are under evaluation; management expects Citizens take-outs to be a smaller share of GWP than in 2024 and 2025.