Ategrity Q3 EPS falls to $0.29 from $0.45 despite record 84.7% combined ratio

Ategrity Specialty Insurance Co Holdings

Net income attributable to stockholders $14.6M ($0.29 per diluted share) vs $22.7M ($0.45) a year ago; adjusted net income $14.7M ($0.29).
Gross written premiums rose 14.7% to $165.0M; property +25.0%, casualty +10.0%; underwriting income $19.5M, up 83.7% from $10.6M.
Combined ratio 84.7% vs 88.7%; loss ratio 57.5% (-2.5 pts), expense ratio 27.2%; book value per share $13.72, up 7.4% from year-end.
Former CFO Neelam Patel gets $200,000 severance over six months, $354,794.52 prorated 2026 bonus, six months health coverage and $50,000 for her 2025 special bonus.
Adjusted ROE 8.9% in Q3 and 15.5% YTD; CEO Justin Cohen cited 30% submissions growth and four new specialty product launches.

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