Ategrity Specialty Insurance combines a perfect earnings beat streak, cheap valuation, and industry-leading growth with an already-reached analyst target and overbought, late-cycle technicals that cap near-term risk/reward.
Thesis pillars
- Earnings Beat Streak Cheap Growth→Stable
- Late Cycle Distribution Risk→Stable
- Target Reached Negative Asymmetry→Stable
- +2 more pillars — see the Why tab for full reasoning
Ategrity Specialty Insurance Co (ASIC) Stock Analysis
Breakout setup · Catalyst-Driven edge
Financial Services · Insurance - Property & Casualty
Wait for pullback to $20.43. BUY gates pass at $24.24, but concentration risk — Product: casualty (67.2%) and concentration risk — Counterparty: Ategrity Limited (80.0%) argue for a more patient entry. Engine's entry $20.43 (Ma50 Sticky) is the shallowest technical level that clears the 2:1 A.R:R minimum.
Ategrity Specialty Insurance Company Holdings is a specialty property and casualty insurance holding company focused exclusively on the excess and surplus (E&S) market for small and medium-sized businesses across the U.S., using a technology-driven "productionized underwriting"... Read more
Wait for pullback to $20.43. BUY gates pass at $24.24, but concentration risk — Product: casualty (67.2%) and concentration risk — Counterparty: Ategrity Limited (80.0%) argue for a more patient entry. Engine's entry $20.43 (Ma50 Sticky) is the shallowest technical level that clears the 2:1 A.R:R minimum. Chart setup: Golden cross, above all MAs, RSI 68, MACD bullish. Maintain position. Not compelling to add more. | News modifier +2 (HOLD_IF_HOLDING → STRONG_BUY_WAIT) Score 7.2/10, moderate confidence.
Passes 7/8 gates (positive momentum, clean insider activity, no SEC red flags, news boost analyst 0.50, earnings proximity 22d clear, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio. Suitability: speculative.
About Ategrity Specialty Insurance Co
About Ategrity Specialty Insurance Co
Ategrity Specialty Insurance Company Holdings wrote $581.5 million in gross written premiums during 2025 across the excess and surplus market for small and medium-sized businesses, achieving an 88.2% combined ratio and ending the year with $614.3 million in stockholders' equity. The company's book skews 67.2% casualty and 32.8% property across 48 states and the District of Columbia, with California (18.9%), Florida (16.1%), and Texas (10.1%) its three largest state concentrations, regulated primarily by the Delaware Department of Insurance.
Ategrity earns premium revenue through two channels, a Brokerage Channel serving medium-sized commercial risks and a Small Business Channel using automated eligibility screening and pricing for smaller, standardized accounts, distributing exclusively through licensed surplus lines brokers and wholesale agents, with the three largest wholesale distribution corporations accounting for 46.5% of 2025 gross written premiums. The company cedes approximately 80% of Ategrity Specialty's net written premium to its Bermuda-domiciled reinsurance affiliate, Ategrity Limited, under a quota share arrangement, retaining a net probable maximum loss of $12 million for a 1-in-250-year catastrophe event, equal to about 2.0% of stockholders' equity. Both Ategrity Specialty and Ategrity Limited carry an A.M. Best financial strength rating of A- (Excellent) with a positive outlook, and the company holds roughly $1.1 billion in cash and invested assets, mostly investment-grade fixed maturities with an average credit rating of A- and effective duration of 3.8 years.
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Ategrity's capital efficiency depends heavily on its own Bermuda reinsurance affiliate: with 80% of Ategrity Specialty's net written premium ceded to Ategrity Limited, a disruption to that intra-group quota share, whether from a Bermuda Monetary Authority capital directive, a ratings action, or an intercompany-transaction dispute, would force Ategrity Specialty to retain far more risk on its own balance sheet than its current $614.3 million in stockholders' equity is sized for. Because Ategrity Limited is an affiliate rather than an independent reinsurer, this arrangement does not diversify Ategrity's ultimate exposure to a large loss event the way third-party reinsurance would; it primarily reallocates capital and risk within the same corporate family, meaning the group's total loss absorption capacity is what ultimately backs the ceded 80%, not a separate balance sheet.
See also: Financial Services · Insurance - Property & Casualty
From Ategrity Specialty Insurance Co's most recent 10-K filing, extracted July 6, 2026.
Recent developments
updated 2026-07-08Recent Developments — Ategrity Specialty Insurance Co
Latest news
- NEWS ASIC Q1 2026 Earnings: Strong EPS Beat Drives Positive Sentiment - Tangible Book Value - dars.gov.et — dars.gov.et positive
- NEWS Better Custom ASIC Stock: Marvell vs. Broadcom - Yahoo Finance — Yahoo Finance neutral
- NEWS ASIC Q1 2026 Earnings: Robust EPS Beat Driven by Underwriting Discipline and Premium Growth - Adjusted Earnings Analysis — dars.gov.et positive
- NEWS Top 10 Global ASIC Miner Sellers with Warranty, After-Sales Support, and On-Site Maintenance for Ethiopia, EU, and Austr — Scott Coop neutral
- NEWS Broadcom (AVGO.US) signs multi-year custom ASIC agreement with Apple through 2031: Pre-market share price rises, with 20 — Moomoo positive
Generated 2026-07-08T22:53:47Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Concentration Risks(10-K Item 1A)
- HIGHProductcasualty67%10-K Item 1: 'our gross written premiums were approximately 67.2% casualty and 32.8% property'
- LOWGeographicCalifornia19%10-K Item 1: 'five states accounted for 5% or more of gross written premiums: California (18.9%), Florida (16.1%), Texas (10.1%), New York (8.3%) and Georgia (5.4%)'
- MEDIUMcounterpartythree largest wholesale distribution corporations47%10-K Item 1: 'The industry's three largest wholesale distribution corporations represented 46.5% of gross written premiums for the year ended December 31, 2025.'
- HIGHcounterpartyAtegrity Limited80%10-K Item 1: 'approximately 80% of Ategrity Specialty's net written premium was ceded to Ategrity Limited under a quota share arrangement'
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Rating Breakdown
1 ceiling hit
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Wait for pullback to $20.43. BUY gates pass at $24.24, but concentration risk — Product: casualty (67.2%) and concentration risk — Counterparty: Ategrity Limited (80.0%) argue for a more patient entry. Engine's entry $20.43 (Ma50 Sticky) is the shallowest technical level that clears the 2:1 A.R:R minimum. Chart setup: Golden cross, above all MAs, RSI 68, MACD bullish. Maintain position. Not compelling to add more. | News modifier +2 (HOLD_IF_HOLDING → STRONG_BUY_WAIT) Target $25.32 (+4.5%), stop $18.36 (−32.0%), A.R:R -0.3:1. Score 7.2/10, moderate confidence.
Take-profit target: $25.32 (+21.0% upside). Target $25.32 (+4.5%), stop $18.36 (−32.0%), A.R:R -0.3:1. Stop-loss: $18.36.
Concentration risk — Product: casualty (67.2%); Concentration risk — Counterparty: Ategrity Limited (80.0%); Analyst target reached - limited upside remaining.
Ategrity Specialty Insurance Co trades at a P/E of 13.0 (forward 10.1). TrendMatrix value score: 7.9/10. Verdict: Buy (Wait for Entry).
11 analysts cover ASIC with a consensus score of 4.0/5. Average price target: $27.
What does Ategrity Specialty Insurance Co do?Ategrity Specialty Insurance Company Holdings is a specialty property and casualty insurance holding company focused...
Ategrity Specialty Insurance Company Holdings is a specialty property and casualty insurance holding company focused exclusively on the excess and surplus (E&S) market for small and medium-sized businesses across the U.S., using a technology-driven "productionized underwriting" model. The company wrote $581.5 million in gross written premiums in 2025 (67.2% casualty, 32.8% property) at an 88.2% combined ratio, distributing exclusively through surplus lines brokers and wholesalers, with California (18.9%) its largest state exposure, and cedes approximately 80% of net written premium to its Berm