Revenue: As of FY2026 Q1, the actual value is USD 90.93 M.EPS: As of FY2026 Q1, the actual value is USD 1.02, beating the estimate of USD 0.9875.EBIT: As of FY2026 Q1, the actual value is USD 21.62 M.<h4>Operational Overview and Strategy</h4>American Integrity Insurance Group, Inc. operates as a single reportable operating segment, primarily offering personal residential property insurance in Florida, which constituted 93.0% of its policies in-force as of March 31, 2026. The company’s strategy focuses on generating consistent underwriting profits by maintaining a conservative financial position, adjusting risk exposure based on market conditions, and expanding geographically into states like South Carolina, Georgia, and North Carolina to support its builder agency network. Its insurance carrier subsidiary, AIIC, holds an “A” (Exceptional) Financial Stability Rating from Demotech and a “BBB+” financial strength rating with a stable outlook from Kroll Bond Rating Agency, LLC. American Integrity Insurance Group, Inc. also maintains a BB+ issuer rating with a stable outlook from Kroll Bond Rating Agency, LLC.<h4>Key Financial Metrics (Three Months Ended March 31, 2026 vs. 2025)</h4><ul><li>Gross Premiums Written: Increased by $7,854,000 (3.7%) to $220,004,000 in 2026 from $212,150,000 in 2025, driven by growth in the Voluntary Market.</li><li>Gross Premiums Earned: Increased by $20,616,000 (9.8%) to $230,772,000 in 2026 from $210,156,000 in 2025, primarily due to increased gross premiums written.</li><li>Ceded Premiums Earned: Increased by -$3,810,000 (2.6%) to -$148,564,000 in 2026 from -$144,754,000 in 2025, influenced by growth in gross premiums earned and lower ceded premiums due to a reduction in the non-catastrophe quota share reinsurance arrangement.</li><li>Net Premiums Earned: Grew by $16,806,000 (25.7%) to $82,208,000 in 2026 from $65,402,000 in 2025, as the increase in gross premiums earned outpaced ceded premiums earned.</li><li>Net Investment Income: Increased by $1,549,000 (37.8%) to $5,652,000 in 2026 from $4,103,000 in 2025, due to an increase in invested assets from growing in-force premiums and IPO proceeds.</li><li>Net Realized Gains on Investments: Increased by $37,000 (231.3%) to $53,000 in 2026 from $16,000 in 2025.</li><li>Losses and Loss Adjustment Expenses: Increased by $10,863,000 (52.1%) to $31,725,000 in 2026 from $20,862,000 in 2025, primarily due to higher net premiums earned.</li><li>Policy Acquisition Expenses: Increased by $12,878,000 (414.5%) to $15,985,000 in 2026 from $3,107,000 in 2025, driven by increased policies written and reduced ceding commission.</li><li>General and Administrative Expenses: Increased by $10,958,000 (218.8%) to $15,966,000 in 2026 from $5,008,000 in 2025, mainly due to lower ceding commissions.</li><li>Net Income: Decreased by -$18,186,000 (-47.7%) to $19,910,000 in 2026 from $38,096,000 in 2025.</li></ul><h4>Key Ratios (Three Months Ended March 31, 2026 vs. 2025)</h4><ul><li>Loss Ratio: Increased to 37.3% in 2026 from 30.9% in 2025.</li><li>Expense Ratio: Increased to 37.6% in 2026 from 12.0% in 2025.</li><li>Combined Ratio: Increased to 75.0% in 2026 from 42.9% in 2025.</li><li>Return on Equity: Decreased to 23.7% in 2026 from 87.5% in 2025.</li></ul><h4>Unique Operational Metrics</h4><ul><li>Policies In-Force: Increased by 14.1% to 437,308 as of March 31, 2026, from 383,332 as of March 31, 2025, primarily due to new policies written in the Voluntary Market and Citizens take-outs.</li><li>In-Force Premium: Increased to $974,806,000 as of March 31, 2026, from $909,539,000 as of March 31, 2025.</li><li>Policy Retention Rates: Increased to 83.6% in Q1 2026 from 78.1% in Q1 2025.</li><li>Citizens Take-Out Program: In Q1 2026, the company assumed 584 policies from Citizens, including 42 commercial take-outs, representing $1,200,000 in assumed unearned premiums. As of March 31, 2026, 577 policies assumed in Q1 2026 were still in-force.</li></ul><h4>Cash Flow (Three Months Ended March 31, 2026 vs. 2025)</h4><ul><li>Net Cash Provided by Operating Activities: Decreased to $6,792,000 in 2026 from $68,085,000 in 2025, due to higher cash outflows for reinsurance and loss payments.</li><li>Net Cash Used in Investing Activities: Shifted from $8,343,000 provided in 2025 to -$4,486,000 used in 2026, mainly due to purchases of fixed income securities and short-term investments exceeding sales proceeds.</li><li>Net Cash Used in Financing Activities: Increased to -$20,074,000 in 2026 from -$14,978,000 in 2025, primarily due to a special cash dividend paid to stockholders in 2026.</li></ul><h4>Future Outlook</h4>The company anticipates continued opportunities to assume policies from Citizens Property Insurance Corporation, though it expects the number of policies meeting its underwriting and profitability standards may decline over time. It continuously monitors climate data and collaborates with experts to refine risk assessment models, enhancing preparedness for evolving climate-related challenges. The company also monitors inflation trends and incorporates them into the pricing of new business and renewal policies.

American Integrity Insurance | 10-Q: FY2026 Q1 Revenue: USD 90.93 M