American Integrity increases Q1 GPW by 44% to $212 million

By Michael Loney

June 9 - (The Insurer) - Newly public Florida insurance carrier American Integrity has reported its gross premiums written increased 43.9% in the first quarter to $212.2 million, while the combined ratio improved to 42.9%.

Tampa-based American Integrity reported adjusted net income of $38.1 million for the first quarter of 2025, up from $12.1 million in the same period of 2024.

Gross premiums written in the first quarter of 2025 of $212.2 million was up from $147.5 million in the first quarter of 2024.

The increase was driven primarily by participation in the take-out program for Florida state-back insurer of last resort Citizens Property Insurance Corporation and an increase in premiums from new policies written through the voluntary market.

Gross premiums earned in the first quarter of 2025 increased by 33.9% to $210.2 million, from $156.9 million in the first quarter of 2024

Ceded premiums earned in the first quarter of 2025 increased by 23.0% to $144.8 million, compared to $117.7 million in the first quarter of 2024 due to the increase in gross premiums earned.

The combined ratio was 42.9% in the first quarter, a 33 point improvement from the 75.9% for the same period of 2024.

“Having just completed a successful IPO in May, I am pleased to report that American Integrity had an outstanding first quarter in 2025,” said American Integrity CEO Robert Ritchie. “These results reflect more than just performance — they reflect disciplined, strategic execution and a culture aligned around a mission that matters.”

American Integrity went public on May 8 in an IPO that raised gross proceeds of $100 million, before deducting underwriting commissions and estimated offering expenses of $18.5 million.

The offering was at a price of $16 a share. New York-listed American Integrity’s share price closed at $17.00 on Monday.