American Integrity Insurance Group Q4 Earnings Call Highlights

For 2025, absorption reported:

• Gross premiums earned accrued astir 30% year-over-year to $885 million.

• Adjusted nett income disposable to communal shareholders roseate to $103 million, oregon $5.97 per diluted share, from $37.9 million, oregon $2.94 per diluted share, successful 2024.

• Combined ratio improved to a grounds 63.7%, compared with 80.9% successful 2024.

• Adjusted instrumentality connected equity accrued to 42.1%, up from 26.8% successful 2024.

• Customer count grew 19% to astir 422,000 customers from 356,000.

Ritchie noted that, similar different Florida carriers, results benefited from well-underwritten Citizens Property Insurance takeouts successful precocious 2024 and aboriginal 2025, but helium said the signifier of “large, profitable” takeouts has ended. He emphasized that the company’s maturation motor is present “organic and voluntary,” supported by cause relationships and underwriting discipline.

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President Jon Ritchie said fourth-quarter voluntary accumulation totaled 26,025 caller policies, bringing full-year voluntary accumulation to much than 104,000, a 17% summation implicit 2024. Retention improved to 82.7% successful the quarter, and voluntary policies successful unit accrued 16% year-over-year to 332,780.

Citizens takeouts were a smaller contributor than successful the anterior year. The institution assumed astir 8,000 Citizens residential takeout policies successful Q4, representing $24.2 million of assumed unearned premium, versus astir 68,200 policies successful Q4 2024, with absorption attributing the diminution to less policies gathering underwriting and profitability standards.

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Executives outlined respective maturation initiatives:

• Tri-County re-entry: The institution reentered Florida’s Tri-County portion successful Q3 2025 and ended the twelvemonth with 29,226 policies successful unit there, representing 7% of the book. Jon Ritchie said the institution views the country arsenic underpenetrated comparative to its stock of Florida households and expects the accidental to widen into 2026.

• Middle-aged homes: Management said the institution is renewing its absorption connected middle-aged homes aft reducing vulnerability during Florida’s litigation-driven period. Jon Ritchie said underwriting and pricing enactment has been completed and aboriginal accumulation is accelerating, citing legislative reforms passed successful 2022 arsenic a origin making the conception much attractive.

• Commercial residential product: Launched successful October 2025, the merchandise targets condominium, townhouse, and residential homeowners associations. In Q4, the institution assumed 149 commercialized residential policies from Citizens, representing $5.9 million of assumed unearned premium, and began penning voluntary commercialized residential policies. Management said aboriginal results enactment a measured, “responsible” scaling approach.

• Out-of-state growth: The institution reported continued maturation successful Georgia and South Carolina, mostly tied to Florida location builder cause relationships, and noted it has begun penning successful North Carolina. Out-of-state policies much than doubled to 26,732 policies successful unit astatine year-end 2025, portion Florida inactive represented 97% of in-force premium.