Ategrity Specialty Insurance Company (ASIC) Q3 2026 earnings summary

Executive summary

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

• For 9M, gross written premiums rose 20.4% to $514.7m, underwriting results improved, and combined ratio fell to 85.9% from 89.4%.

Financial highlights

• Q3 total revenue was $125.6m versus $116.1m; net income attributable to stockholders was $14.6m versus $22.7m, while adjusted net income was $14.7m.

• Q3 net realized and unrealized investment losses were $17.2m, compared with $9.2m of gains a year earlier, primarily reflecting Utility & Infrastructure investment losses after strong first-half returns.

• 9M net income attributable to stockholders was $73.5m versus $48.7m; adjusted net income was $73.8m versus $49.2m, and adjusted diluted EPS was $1.48 versus $1.09.

• Q3 fee income rose to $2.6m from $2.2m, supported by standard policy fees introduced during 2025.

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; added underwriting capacity is expected to support productivity and growth.

• The 2027 trajectory remains unchanged, but no 2027 growth outlook was provided; Q4 market-growth guidance allows for variability in stamping data.

• Available liquidity at the holding company and subsidiaries is expected to cover operating cash needs and obligations for the next 12 months.