HIGHBuilt-inCounterparty
80%
Ategrity Limited
“10-K Item 1: 'approximately 80% of Ategrity Specialty's net written premium was ceded to Ategrity Limited under a quota share arrangement'”
ASIC · Concentration risk · 10-K extracted
Ategrity Specialty Insurance (ASIC) concentration risks
Updated
The most significant concentration Ategrity Specialty Insurance discloses is Ategrity Limited at 80%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Ategrity Specialty Insurance’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 4 disclosed concentrations
HIGH2
MEDIUM1
LOW1
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHBuilt-inProduct / Revenue mix
67.2%
casualty
“10-K Item 1: 'our gross written premiums were approximately 67.2% casualty and 32.8% property'”
MEDIUMOutside partyCounterparty
46.5%
three largest wholesale distribution corporations
“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.'”
LOWBuilt-inGeographic
18.9%
California
“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%)'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-06Ategrity Specialty Insurance carries several layered concentration exposures. Structurally, approximately 80% of the company's net written premium was ceded to Ategrity Limited under a quota share arrangement — a high-size exposure that ties a large share of the company's risk transfer to a single reinsurance counterparty. On the underwriting side, gross written premiums were approximately 67.2% casualty versus 32.8% property, another high-size structural concentration reflecting a business built predominantly around one line of insurance. Distribution adds a further dependency layer: the industry's three largest wholesale distribution corporations represented 46.5% of gross written premiums for the year ended December 31, 2025, a medium-size exposure. Geographically, the risk is more diffuse — California, the largest single state, accounted for 18.9% of gross written premiums, alongside Florida, Texas, New York, and Georgia each contributing 5% or more — a low-size exposure given the spread across five states. Taken together, the two high-size structural exposures — the reinsurance cession to Ategrity Limited and the casualty-line concentration — are the ones most capable of moving the verdict, while distribution and geography, though notable, are comparatively better diversified and idiosyncratic by comparison.
For the engine’s reasoning on ASIC’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Insurance - Property & Casualty
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| BOW | Bowhead Specialty Holdings Inc. | 3 | 0 | 0 | 3 |
| ASIC● | Ategrity Specialty Insurance Co | 2 | 1 | 1 | 4 |
| AIZ | Assurant, Inc. | 1 | 2 | 0 | 3 |
| ALL | Allstate Corporation (The) | 1 | 0 | 0 | 1 |
| AFG | American Financial Group, Inc. | 0 | 0 | 2 | 2 |
| ACIC | American Coastal Insurance Corp | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.