American Integrity Insurance Group (AII) Registration Filing summary

Company overview and business model

• Specializes in residential property insurance for homeowners and condominiums, primarily in Florida, with expansion into Georgia and South Carolina.

• Operates a vertically integrated model, controlling underwriting, pricing, distribution, and claims management.

• 98.6% of direct premiums written and 97.6% of policies in-force as of December 31, 2024, are in Florida.

• Focuses on the Voluntary Market but selectively assumes policies from Citizens Property Insurance Corporation.

• Leverages proprietary technology and data analytics for granular underwriting and risk management.

Financial performance and metrics

• Gross premiums written grew 19.8% to $767.7 million in 2024; net premiums written were $194.4 million.

• Net income was $39.7 million in 2024, up from $37.8 million in 2023; adjusted net income was $39.6 million.

• Combined ratio improved to 80.9% in 2024 from 83.3% in 2023, indicating strong underwriting profitability.

• Return on equity was 26.8% in 2024, with members' equity reaching $162.4 million.

• Maintains a conservative investment portfolio, with 80.9% in investment-grade fixed income securities.

Use of proceeds and capital allocation

• Net proceeds from the IPO will be used for general corporate purposes, including capital contributions to support growth and to satisfy tax withholding obligations related to restricted stock grants.

• No proceeds will be received from shares sold by selling stockholders.

• Future capital allocation decisions, including dividends and share repurchases, will be determined by the board based on profitability and regulatory considerations.