Ategrity Specialty Insurance Company Holdings · NYSE:ASIC
Ategrity Specialty Insurance — Investor Presentation (December 2025)
24 slides from Ategrity Specialty Insurance's investor presentation, Dec 18, 2025
Slide 1: Investor Presentation December 2025
Investor Presentation December 2025 1
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts. You can identify forward-lookin
Slide 3: Mission and Overview
Mission and Overview Transform the E&S market for Small to Medium-Sized Businesses (“SMB”) through the power of productionized underwriting with precision, simplicity and efficiency Where we are focused How we do it What we deliver Intelligent underwriting 100% U.S. E&S market framework and processe
Slide 4: Ategrity Snapshot
Ategrity Snapshot $546M 34% $589M 89% 13% LTM 3Q 2025 Gross YTD 3Q 2025 9/30/25 YTD 3Q 2025 YTD 3Q 2025 Written Premiums GWP Growth Rate Stockholders’ Equity Combined Ratio [1] Adjusted Return on ("GWP") Stockholders’ Equity [2] PREMIUMS [3] BY PRODUCT BY VERTICAL BY POLICY SIZE [4] Emerging Other S
Slide 5: Achieving Our Mission Through Productionized Underwriting
Achieving Our Mission Through Productionized Underwriting Modern Modern Technical Underwriting Operating Platform Data-driven Risk Segmentation Centralized Clearly Defined Risk Appetite Highly Efficient Intelligently Designed Products and Pricing Uniform Underwriting Framework Powered by Advanced Te
Slide 6: Our Unique Underwriting Edge
Our Unique Underwriting Edge We believe other carriers face deep-rooted challenges that prevent them from meeting the demands of the modern E&S market Unique How We Do It Other Carriers[1] Value Proposition SMARTER Consistent Risk Appetite Intelligent Micro- Segmentation BETTER Reliable and Ac
Slide 7: Ategrity's History
Ategrity’s History With our productionized business model, Ategrity is growing profitably and with discipline Market Entry & Exploration Initiation of Profitable Growth 600 Productionized Underwriting Strategy 500 Current management team joins in 400 2H21 Gross Written Premium ($M) [1] 300 200 100 0
Slide 8: How Our Model Drives Franchise Value
How Our Model Drives Franchise Value 2 3 4 5 Leverage data for an Design an intelligent UW Do it smarter, better, and Partner with Purpose information advantage framework faster 1 Select a place in the market Deep Effective Financial Franchise Expertise Operationalization Value Value Focus Superior
Slide 9: We Carefully Select our Places in the Market
1 We Carefully Select our Places in the Market How we Select Outcomes Premium by Policy Size [1] 100% 100% Specialty (250k+) 80% 80% Homogenous 60% 60% Group Medium (10k-250k) 40% 40% 20% Small (<=10k) 20% 0% 0% Cost Drivers Product Optimal 2020 2021 2022 2023 2024 2025 Can Be Can Be Place Understoo
Slide 10: We Leverage Data for Information Advantage
2 We Leverage Data for Information Advantage How we gather and use data intelligently… …to gain a pricing edge Historic Cost of Product Illustrative Geographic Modifier Build-Up [1] Internal Policies Albany Los Angeles & Claims Frequency Application of Revenue $1M $1M robust statistical Revenue per
Slide 11: Our Intelligent, Scalable UW unlocks Automation
3 Our Intelligent, Scalable UW unlocks Automation Our pricing is designed to be scalable and… …programmable across products, unlocking automation [1] Other E&S carriers For Premises + Operations [2] Underwriting Adjustment (Risk / Product Specific) PURE PREMIUM BASE PREMIUM SPLIT Profit Load Underwr
Slide 12: Smarter, Faster, Better: Examples
4 Smarter, Faster, Better: Examples Reducing Bias & Friction Increasing Quoting Speed using Technology Peers’ Submission Data Underwriting Bindable Ategrity solution Intake Questions [1] Extraction Quote What measures does the restaurant take to prevent Search State database Automated customers from
Slide 13: Value Resonating with Market: Partner with Purpose
5 Value Resonating with Market: Partner with Purpose Distribution Submissions 600 Active Producers by Cohort Year[1] 559 Submissions (thousands)[2] 2018 2019 2020 2021 2022 2023 2024 2025 90 Thousands 500 446 80 70 400 60 296 300 50 40 205 200 184 30 20 100 10 - - 2024Q1 2024Q3 2025Q1 2025Q3 2021 20
Slide 14: Results: Success in Defining & Winning in Markets
Results: Success in Defining & Winning in Markets Limited CAT Heartland [1] Property GWP 100% Policies by Insured Domicile[2] Small Business 100% 80% 90% 60% 80% Other 40% Brokerage 70% 20% 60% 0% Midwest 2020 2021 2022 2023 2024 2025 50% Scaling the Business While Reducing CAT Severity 40% [3] Prem
Slide 15: Innovation: Automated Underwriting & Pre-priced Solutions
Innovation: Automated Underwriting & Pre-priced Solutions Coherent risk framework streamlines workflows... ...Enabling accurate and rigorous automated underwriting Fully Automated Underwriting Policy Intake Information Assessment Pre-Qualify Consolidate ✓ Handle greater submissions ✓ Underwrite more
Slide 16: Financial
Financial 16
Slide 17: Profitable Top-line Growth Outpacing Public Peers
Profitable Top-line Growth Outpacing Public Peers Gross Written Premium Growth and Combined Ratio (YTD 3Q 2025) Combined 89% 77% 90% 96% 92% 78% 95% 84% 93% Ratio 34% 31% 27% 25% Growth Rate Peer Average of Growth Rates: 13% 8% 7% 4% 2% 1% Source: Company filings 17
Slide 18: Fully Integrated Value Chain With Multiple Avenues For Growth
Fully Integrated Value Chain With Multiple Avenues For Growth Network Productionized Underwriting Increased wallet share of existing partners Efficient Operating Fully Integrated Platform Claims Strategically grow distribution network Management Expansion Automation & Expansion into adjacent vertica
Slide 19: 3Q25 Financial Results
3Q25 Financial Results Commentary $ in millions Percent 3Q24 3Q25 Change • Gross written premiums: Execution of growth Gross written premiums $110,552 $143,858 30.1% initiatives and increased engagement across Net written premiums 75,928 107,510 41.6% expanding distribution network Net premiums earn
Slide 20: Non-GAAP Financial Measures – Underwriting Income
Non-GAAP Financial Measures – Underwriting Income 20
Slide 21: Non-GAAP Financial Measures – Adjusted Net Income Attributable to Stockholders
Non-GAAP Financial Measures – Adjusted Net Income Attributable to Stockholders 21
Slide 22: Non-GAAP Financial Measures – Adjusted Return on Stockholders' Equity
Non-GAAP Financial Measures – Adjusted Return on Stockholders’ Equity 22
Slide 23: Non-GAAP Financial Measures – Adjusted Diluted Earnings Per Share
Non-GAAP Financial Measures – Adjusted Diluted Earnings Per Share 23
Slide 24: ir@ategrity.com investors.ategrity.com
ir@ategrity.com (212) 509 -1600 investors.ategrity.com
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