earnings
confidence high
sentiment positive
materiality 0.80
Ategrity Q2 net income $33.5M ($0.67 EPS), combined ratio 85.9%, GWP up 23.4%
Ategrity Specialty Insurance Co Holdings
- Net income attributable to stockholders of $33.5M ($0.67 diluted EPS), up 89.8% YoY; adjusted net income same.
- Gross written premiums increased 23.4% to $206.8M; casualty lines up 24.7%, property lines up 21.3%.
- Combined ratio improved to 85.9% from 88.9% YoY; expense ratio down 350 bps to 27.5%.
- Underwriting income rose 66.9% to $16.0M; book value per share $13.86, up 8.5% from year-end.
- Adjusted return on stockholders' equity was 20.7% for the quarter.