Ategrity Specialty Insurance Co Holdings (ASIC) financial statements: income statement, balance sheet and cash flow
Ategrity Specialty Insurance Co Holdings's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Ategrity Specialty Insurance Co Holdings reported revenue of $424.3M and net income of $76.1M.
Income statement
Ategrity Specialty Insurance Co Holdings income statement, fiscal years
Line item
Dec 31, 2025 · FY
Gross written premiums
$581.5M
Ceded written premiums
($156.9M)
Net written
$424.6M
Change in unearned premiums
($62.9M)
Net earned
$361.7M
Fee income
$6.6M
Net investment income
$42.4M
Net realized and unrealized gains (losses) on investments
$12.7M
Other income
$1.0M
Total revenues
$424.3M
Losses and loss adjustment expenses
$212.1M
Underwriting, acquisition and insurance expenses
$113.3M
Interest expense
$1.4M
Other expenses
$1.6M
Total expenses
$328.4M
Income before income taxes
$95.9M
Income tax expense
$19.8M
Net income
$76.1M
Less: Net income (loss) attributable to non-controlling interest - General Partner
$2.1M
Net income attributable to stockholders
$74.0M
Unrealized gains (losses), net of taxes
$6.2M
Total comprehensive income attributable to stockholders
$80.2M
Basic (in dollars per share)
$1.64
Diluted (in dollars per share)
$1.58
Basic (in shares)
44.7M
Diluted (in shares)
46.2M
Ategrity Specialty Insurance Co Holdings income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Gross written premiums
$206.8M
$142.9M
$143.9M
$167.5M
Ceded written premiums
($53.3M)
($24.2M)
($36.3M)
($50.2M)
Net written
$153.4M
$118.7M
$107.5M
$117.3M
Change in unearned premiums
($39.7M)
($13.5M)
($13.8M)
($30.3M)
Net earned
$113.8M
$105.2M
$93.7M
$86.9M
Fee income
$3.4M
$2.2M
$2.2M
$1.5M
Net investment income
$12.7M
$12.0M
$11.0M
$11.9M
Net realized and unrealized gains (losses) on investments
$18.6M
$9.5M
$9.2M
$1.4M
Other income
$24.0K
$24.0K
$25.0K
$28.0K
Total revenues
$148.5M
$129.0M
$116.1M
$101.8M
Losses and loss adjustment expenses
$66.5M
$61.9M
$56.2M
$50.4M
Underwriting, acquisition and insurance expenses
$34.7M
$32.3M
$29.1M
$28.4M
Interest expense
$4.0K
$4.0K
$392.0K
$447.0K
Other expenses
$872.0K
$572.0K
$659.0K
$161.0K
Total expenses
$102.0M
$94.7M
$86.4M
$79.5M
Income before income taxes
$46.4M
$34.2M
$29.7M
$22.3M
Income tax expense
$9.3M
$7.1M
$6.1M
$4.7M
Net income
$37.2M
$27.2M
$23.6M
$17.6M
Less: Net income (loss) attributable to non-controlling interest - General Partner
$3.7M
$1.7M
$952.0K
($5.0K)
Net income attributable to stockholders
$33.5M
$25.5M
$22.7M
$17.6M
Unrealized gains (losses), net of taxes
$2.6M
($9.0M)
$5.9M
$152.0K
Total comprehensive income attributable to stockholders
$36.0M
$16.5M
$28.6M
$17.8M
Basic (in dollars per share)
$0.70
$0.53
$0.47
$0.40
Diluted (in dollars per share)
$0.67
$0.51
$0.45
$0.39
Basic (in shares)
48.0M
48.1M
48.1M
42.1M
Diluted (in shares)
49.9M
49.8M
50.0M
43.6M
Balance sheet
Ategrity Specialty Insurance Co Holdings balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Fixed-maturity securities available-for-sale, at fair value (amortized cost: $546,755 in 2025 and $434,965 in 2024)
$558.4M
Utility & Infrastructure Investments, at fair value (cost of $15,135 in 2025 and $21,168 in 2024)
$189.9M
Short-term investments
$220.2M
Loans to affiliates
$106.5M
Other invested assets
$280.0K
Total invested assets
$1.1B
Cash and cash equivalents
$29.7M
Investment income due and accrued
$10.2M
Premiums receivable, net of allowance for credit losses of $8,754 in 2025 and $5,907 in 2024
$75.2M
Deferred policy acquisition costs, net of ceding commissions
$30.2M
Prepaid reinsurance premiums
$2.9M
Deferred income tax asset, net
$13.3M
Reinsurance recoverable, net of allowance for credit losses of $0 in 2025 and 2024
$150.4M
Ceded unearned premiums
$74.3M
Other assets
$12.7M
Total assets
$1.5B
Reserves for unpaid losses and loss adjustment expenses
$502.2M
Unearned premiums
$281.9M
Securities sold, not yet purchased, at fair value (cost of $0 in 2025 and $932 in 2024)
$0
Payable to reinsurers
$31.1M
Due to broker
$0
Due to affiliates
$31.7M
Funds held under reinsurance treaties
$1.5M
Income tax payable
$8.4M
Other liabilities
$2.6M
Total liabilities
$859.5M
Preferred stock, $0.001 par value,100,000,000 shares authorized and none issued or outstanding.
0
Common stock, $0.001 par value, 500,000,000 shares authorized, 48,066,674 and 38,386,433 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively.
48.0K
Additional paid-in capital
$496.5M
Retained earnings
$108.6M
Accumulated other comprehensive income
$9.2M
Total stockholders' equity
$614.3M
Non-controlling interest - General Partner
$550.0K
Total stockholders' equity and non-controlling interest
$614.9M
Total liabilities, stockholders' equity and non-controlling interest
$1.5B
Ategrity Specialty Insurance Co Holdings balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Fixed-maturity securities available-for-sale, at fair value (amortized cost: $607,737 in 2026 and $546,755 in 2025)
$611.3M
$574.4M
$514.9M
$419.2M
Utility & Infrastructure Investments, at fair value (cost of $182,753 in 2026 and $172,753 in 2025)
$227.3M
$198.3M
$185.6M
$176.3M
Short-term investments
$228.9M
$219.9M
$223.0M
$251.9M
Loans to affiliates
$106.5M
$106.5M
$106.5M
$107.5M
Other invested assets
$1.8M
$280.0K
$280.0K
$280.0K
Total invested assets
$1.2B
$1.1B
$1.0B
$955.3M
Cash and cash equivalents
$33.3M
$47.5M
$34.3M
$23.5M
Investment income due and accrued
$10.5M
$9.6M
$11.7M
$6.5M
Premiums receivable, net of allowance for credit losses of $10,860 in 2026 and $8,754 in 2025
$111.6M
$80.3M
$77.9M
$89.2M
Deferred policy acquisition costs, net of ceding commissions
$39.0M
$33.8M
$30.1M
$27.6M
Prepaid reinsurance premiums
$3.4M
$5.1M
$7.5M
$6.7M
Deferred income tax asset, net
$14.0M
$15.4M
$9.2M
$10.3M
Reinsurance recoverable, net of allowance for credit losses of $0 in 2026 and 2025
$188.2M
$157.8M
$165.2M
$155.4M
Ceded unearned premiums
$76.6M
$60.9M
$70.5M
$73.2M
Other assets
$11.3M
$11.2M
$9.2M
$12.7M
Total assets
$1.7B
$1.5B
$1.4B
$1.4B
Reserves for unpaid losses and loss adjustment expenses
$583.9M
$538.2M
$487.2M
$451.5M
Unearned premiums
$337.3M
$282.0M
$270.8M
$259.7M
Payable to reinsurers
$39.4M
$21.6M
$25.0M
$38.1M
Accounts payable and accrued expenses
$27.7M
$28.8M
$50.7M
$31.1M
Funds held under reinsurance treaties
$1.4M
$1.5M
$1.7M
$2.0M
Income tax payable
$1.4M
$13.2M
$17.9M
$17.2M
Other liabilities
$2.2M
$2.4M
$3.2M
$3.4M
Total liabilities
$993.2M
$887.7M
$856.4M
$803.0M
Preferred stock, $0.001 par value, 100,000,000 shares authorized and none issued or outstanding.
0
0
0
0
Common stock, $0.001 par value, 500,000,000 shares authorized; 48,066,674 shares issued and 47,926,928 shares outstanding as of June 30, 2026; 48,066,674 shares issued and outstanding as of December 31, 2025.
48.0K
48.0K
48.0K
48.0K
Additional paid-in capital
$496.9M
$496.7M
$496.2M
$496.0M
Retained earnings
$167.5M
$134.0M
$83.3M
$60.7M
Accumulated other comprehensive income
$2.8M
$249.0K
$9.0M
$3.0M
Treasury stock, at cost (139,746 shares as of June 30, 2026 and 0 as of December 31, 2025)
-2.8M
—
—
—
Total stockholders' equity
$664.4M
$631.0M
$588.6M
$559.7M
Non-controlling interest - General Partner
$6.0M
$2.3M
$1.4M
$484.0K
Total stockholders' equity and non-controlling interest
$670.4M
$633.3M
$590.0M
$560.2M
Total liabilities, stockholders' equity and non-controlling interest
$1.7B
$1.5B
$1.4B
$1.4B
Cash flow statement
Ategrity Specialty Insurance Co Holdings cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Net income
$76.1M
Amortization of premium/discount on fixed-maturity securities, available-for-sale
($6.5M)
Net realized and unrealized gains (losses) on investments
($12.6M)
Net investment income
($8.5M)
Depreciation and amortization
$593.0K
Share-based compensation
$1.0M
Deferred income taxes
($5.3M)
Investment income due and accrued
($4.5M)
Premiums receivable, net
($21.7M)
Deferred policy acquisition costs, net of ceding commissions
($8.7M)
Prepaid reinsurance premiums
$977.0K
Reinsurance recoverable
($16.8M)
Ceded unearned premiums
($6.1M)
Other assets
$6.4M
Reserves for unpaid losses and loss adjustment expenses
$98.7M
Unearned premiums
$69.0M
Payable to reinsurers
$3.9M
Accounts payable and accrued expenses
($6.4M)
Funds held under reinsurance treaties
($545.0K)
Income tax payable
($10.2M)
Other liabilities
($1.7M)
Net cash provided by operating activities
$147.2M
Purchase of fixed-maturity securities, available-for-sale
($338.4M)
Proceeds from sale of fixed-maturity securities, available-for-sale
$290.8M
Proceeds from maturities and redemptions of fixed-maturity securities, available-for-sale
$8.7M
Purchases of Utility & Infrastructure Investments
($10.0M)
Proceeds from redemptions of Utility & Infrastructure Investments
$106.2M
Loans to affiliates
($93.0M)
Purchase of property and equipment
($6.5M)
Change in Treasury bills, net
($63.8M)
Change in short-term investments, net
($168.2M)
Proceeds from sale of securities sold, not yet purchased
$0
Purchases to cover securities sold, not yet purchased
$0
Proceeds from sale of other invested assets
$0
Net cash used in investing activities
($274.2M)
Proceeds from Issuance of Common Stock
$121.7M
Payments of initial public offering costs
($4.7M)
Capital contributions
$22.7M
Payments for share repurchases
($2.7M)
Capital distribution
($6.9M)
Net cash provided by (used in) financing activities
$130.1M
Net change in cash and cash equivalents
$3.1M
Cash and cash equivalents, at beginning of period
$26.6M
Cash and cash equivalents, at end of period
$29.7M
Cash paid for interest
$1.7M
Ategrity Specialty Insurance Co Holdings cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net income
$64.3M
$27.2M
$49.7M
$26.1M
Adjustments to reconcile net income to net cash provided by operating activities
$16.6M
$14.9M
$42.2M
$24.7M
Net cash provided by operating activities
$80.9M
$42.0M
$91.9M
$50.8M
Purchase of fixed-maturity securities, available-for-sale
($232.5M)
($173.0M)
($307.6M)
($231.4M)
Proceeds from sale of fixed-maturity securities, available-for-sale
$161.9M
$143.2M
$281.3M
$253.7M
Proceeds from maturities and redemptions of fixed-maturity securities, available-for-sale
$10.6M
$3.5M
$7.7M
$576.0K
Purchases of Utility & Infrastructure Investments
($10.0M)
$0
($10.0M)
($10.0M)
Proceeds from redemptions of Utility & Infrastructure Investments
$2.1M
$2.1M
$106.2M
$106.2M
Change in short-term investments, net
($5.1M)
$2.0M
($172.8M)
($192.2M)
Loans to affiliates
$0
—
($93.0M)
($94.0M)
Purchase of other invested assets
($1.6M)
—
—
—
Change in due to/from broker
$4.0M
$875.0K
—
—
Purchase of property and equipment
($1.8M)
($899.0K)
—
—
Purchase of other assets
$0
—
($104.0K)
($59.0K)
Net cash used in investing activities
($72.4M)
($22.2M)
($215.5M)
($185.9M)
Proceeds from issuance of common shares, net
0
0
121.7M
121.7M
Payments of initial public offering costs
$0
—
($3.4M)
($2.8M)
Capital contributions
$0
—
$22.7M
$22.7M
Payments for share repurchases
$0
—
($2.7M)
($2.7M)
Treasury stock acquired - share repurchase program
($2.8M)
—
—
—
Capital distribution
($2.1M)
($2.1M)
($6.9M)
($6.9M)
Net cash provided by (used in) financing activities
($4.9M)
($2.1M)
$131.4M
$132.0M
Net change in cash and cash equivalents
$3.6M
$17.8M
$7.7M
($3.0M)
Cash and cash equivalents, at beginning of period
$29.7M
$29.7M
$26.6M
$26.6M
Cash and cash equivalents, at end of period
$33.3M
$47.5M
$34.3M
$23.5M
Cash paid for interest
$8.0K
$4.0K
$1.5M
$889.0K
Cash paid (received) for taxes
$22.5M
$2.0M
$15.0M
—
Common stock issued in exchange for U.S. Treasury bills