Ategrity’s underwriting income up 119.1% as CoR improves to 88.9% in Q2’25
Ategrity Specialty Insurance Company Holdings reported strong underwriting results for the second quarter of 2025, with underwriting income rising 119.1% to $9.6 million from $4.4 million in the prior-year period, alongside an improved combined ratio of 88.9% from 94.0%.
The lower combined ratio was driven by improvements in both the loss and expense ratios.
The loss ratio decreased by 2.8 percentage points to 58.0% from 60.8%, supported by strong underwriting results in property, including lower attritional losses and favourable catastrophe experience.
The expense ratio improved to 31.0% from 33.2%, driven by an improvement in policy acquisition costs as a percentage of net earned premiums, which decreased by 2.6 percentage points to 18.5%, reflecting higher ceded earned commissions and a more favourable business mix.
Gross written premiums grew 32.3% to $167.5 million from $126.6 million, driven by expansion of the distribution network and increased wallet share with existing partners.
<!–
–>
Net written premiums amounted to $117.3 million, up from $84.8 million.
Net premiums earned stood at $86.9 million, an increase from $72.6 million.
Net income for the quarter surged 327.8% to $17.6 million from $4.1 million in the prior-year period.
Net investment income totalled $11.9 million, up from $5.7 million.
Additionally, Ategrity completed its initial public offering in June 2025, raising $130.3 million in gross proceeds through the issuance of 7,666,667 shares.
“This was a strong quarter for Ategrity,” said Justin Cohen, CEO. “We executed with focus and discipline, expanding distribution relationships, delivering solid underwriting results, and driving operational efficiencies. Our productionized underwriting model, which combines technical underwriting with technology-enabled processes, is gaining traction in the marketplace, delivering value to our partners, and driving profitability for our shareholders. Looking ahead, we believe our investments in automation and analytics will accelerate our opportunity to redefine how E&S insurance for small and medium-sized businesses is underwritten and delivered.”
Cohen added, “This quarter’s underwriting results reflect the deliberate actions we have taken to grow and shape our business.
“We saw a meaningful increase in submissions, but we deployed capital with discipline. We achieved above-technical rates in casualty, held firm on property rates even as parts of the market began to soften, and concentrated on targeted micro-segments where we have deep expertise. By leveraging our productionized underwriting model—combining segmentation, analytics-driven pricing, and automation—we were able to deliver strong, profitable growth.”
The post Ategrity’s underwriting income up 119.1% as CoR improves to 88.9% in Q2’25 appeared first on ReinsuranceNe.ws.
