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Ategrity Specialty Insurance Company Holdings, through its subsidiaries, provides excess and surplus lines insurance and reinsurance products to small and medium-sized businesses in the United States. The company offers property and casualty insurance solutions, including general liability, commercial property, management liability, miscellaneous PL, allied healthcare, and architects and engineers insurance products to the retail, real estate, hospitality, and construction sectors. It markets and distributes its products through brokerage and small business channels. The company was formerly known as Ategrity Specialty Holdings LLC and changed its name to Ategrity Specialty Insurance Company Holdings in June 2025. Ategrity Specialty Insurance Company Holdings was incorporated in 2017 and is based in New York, New York. Ategrity Specialty Insurance Company Holdings operates as a subsidiary of Zimmer Financial Services Group LLC.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $424M | - | $74M | $147M | 12.0% | 23.4% | 57.2% |
| 2024 | $344M | - | $47M | $126M | 11.8% | 42.5% | 368.7% |
| 2023 | $241M | - | $10M | $86M | 3.1% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Revenue | 241.32 | 343.83 | 424.34 |
| Operating Revenue | 241.32 | 343.83 | 424.34 |
| Total Expenses | 228.70 | 277.57 | 328.42 |
| EBIT | 14.86 | 68.31 | 97.27 |
| Interest Expense | 2.24 | 2.04 | 1.36 |
| Net Interest Income | -2.24 | -2.04 | -1.36 |
| Other Income Expense | 0.10 | 0.10 | 1.03 |
| Interest Expense Non Operating | 2.24 | 2.04 | 1.36 |
| Net Non Operating Interest Income Expense | -2.24 | -2.04 | -1.36 |
| Pretax Income | 12.62 | 66.26 | 95.91 |
| Tax Provision | 2.52 | 12.32 | 19.78 |
| Tax Rate For Calcs | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 |
| Net Income Continuous Operations | 10.10 | 53.95 | 76.13 |
| Net Income From Continuing And Discontinued Operation | 10.05 | 47.09 | 74 |
| Net Income From Continuing Operation Net Minority Interest | 10.05 | 47.09 | 74 |
| Net Income | 10.05 | 47.09 | 74 |
| Net Income Common Stockholders | 10.05 | 46.73 | 73.11 |
| Net Income Including Noncontrolling Interests | 10.10 | 53.95 | 76.13 |
| Normalized Income | 10.05 | 47.09 | 74 |
| Diluted NI Availto Com Stockholders | 10.05 | 46.73 | 73.11 |
| Basic Average Shares | 46.95 | 47.07 | 44.66 |
| Diluted Average Shares | 48.46 | 47.07 | 46.23 |
| Reconciled Depreciation | 0.23 | 0.70 | 0.59 |
| Minority Interests | -0.06 | -6.86 | -2.13 |
| Other Operating Expenses | 0.20 | 1.73 | 1.61 |
| Otherunder Preferred Stock Dividend | - | 0.36 | 0.89 |
| Loss Adjustment Expense | 154.11 | 175.23 | 212.15 |
| Net Policyholder Benefits And Claims | 154.11 | 175.23 | 212.15 |
| Policyholder Benefits Gross | 205.19 | 230.47 | 266.93 |
| Policyholder Benefits Ceded | 51.08 | 55.24 | 54.78 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Ategrity Specialty Insurance Company Holdingsthis co. | ASIC | $934M | 12.62↓ discount | 1.52 | 12.0% | - |
| Trupanion, Inc. | TRUP | $949M | 48.82 | 2.47 | 5.1% | 17.88 |
| Equity Bancshares, Inc. | EQBK | $946M | 41.62 | 1.29 | 3.1% | - |
| Esquire Financial Holdings, Inc. | ESQ | $938M | 18.46 | 3.24 | 17.5% | - |
| Business First Bancshares, Inc. |
| BFST |
| $928M |
| 10.56 |
| 1.12 |
| 10.7% |
| - |
| Five Star Bancorp | FSBC | $922M | 14.97 | 2.07 | 13.8% | - |
| TrustCo Bank Corp NY | TRST | $920M | 15.05 | 1.34 | 8.9% | - |
| CNB Financial Corporation | CCNE | $918M | 13.89 | 1.13 | 8.1% | - |
| Mercantile Bank Corporation | MBWM | $909M | 10.24 | 1.25 | 12.2% | - |
| Peer Median | - | 15.01 | 1.32 | 9.8% | 17.88 | |