American Integrity Insurance Group (AII) Q1 2026 earnings summary

Executive summary

• Net income for Q1 2026 was $19.9 million ($1.02 per diluted share), down from $35.9 million ($2.78 per share) in Q1 2025, primarily due to reduced windfall from Citizens take-outs and higher expenses.

• Net premiums earned rose 25.7% year-over-year to $82.2 million, driven by growth in voluntary market writings and policy count.

• Policies in force increased 14.1% to 437,308 as of March 31, 2026, reflecting expansion in Florida and new markets.

• A $20 million special cash dividend was paid in Q1 2026.

Financial highlights

• Gross premiums written grew 3.7% to $220.0 million; gross premiums earned increased 9.8% to $230.8 million year-over-year.

• Net investment income rose 37.8% to $5.7 million, reflecting higher invested assets post-IPO.

• Losses and loss adjustment expenses increased 52.1% to $31.7 million; policy acquisition expenses surged 414.5% to $16.0 million.

• General and administrative expenses more than tripled to $16.0 million, mainly due to lower ceding commissions.

• Total revenues climbed 26.5% to $90.9 million; total expenses rose 119.7% to $63.7 million.

Outlook and guidance

• Management expects continued growth from voluntary production, strategic expansion in Florida and new markets, and disciplined underwriting.

• Focus remains on maintaining a balanced reinsurance program and leveraging a strong balance sheet for future growth.